The artificial intelligence of things (aiot) market size is expected to see exponential growth in the next few years. It will grow to $31.05 billion in 2028 at a compound annual growth rate (CAGR) of 32.8%. The growth in the forecast period can be attributed to 5g network expansion, edge computing growth, aiot in healthcare, aiot in smart cities. Major trends in the forecast period include aiot analytics, aiot in retail, aiot in energy management, aiot in transportation.
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Segmentation & Regional Insights
The artificial intelligence of things (aiot) market covered in this report is segmented –
1) By Offering: Solutions; Services
2) By Deployment: On-Premises; Cloud
3) By Vertical: Banking, Financial Services and Insurance (BFSI); Manufacturing; Healthcare; Energy And Utilities; Retail; Transportation And Logistics; Other Verticals
North America was the largest region in the artificial intelligence of things (AIoT) market in 2023. The regions covered in artificial intelligence of things (AIoT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in cloud adoption is expected to propel the growth of the AIoT market. A cloud is a distributed server group that houses infrastructure and software and can be accessed online. Cloud-based AIoT uses cloud computing platforms to manage and process data from IoT devices. It signifies that cloud is used to store and process IoT device data, while AI is utilized to analyze and make decisions based on that data. For instance, in February 2022, according to Canalys, a Singapore-based technology market analyst firm, the global cloud infrastructure services expenditure increased by 35% to US$191.7 billion, up from US$142.0 billion in 2020. Further, in August 2023, according to AAG IT Services & Cyber Security, a UK-based provider of IT support and digital transformation services, around 60% of corporate data was stored in the cloud in 2022 and it is estimated that the global data stored on the cloud will reach 200 zettabytes by 2025. Therefore, the increase in cloud adoption drives the growth of the AIoT market.
Key Industry Players
Major players in the artificial intelligence of things (aiot) market are Google LLC, Microsoft Corporation, Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., General Electric Co, Intel Corporation, International Business Machines Corporation, Tencent Cloud Service Pte., Cisco Systems Inc., Oracle Corporation, SAP SE, Fujitsu Ltd., ABB Ltd., The Hewlett Packard Enterprise Company, Nvidia Corporation, Sharp Corporation, NXP Semiconductors N.V., SAS AB, General Vision Inc., C3.ai Inc., DataRobot Inc., Echelon Corporation, Autoplant Systems India Pvt Ltd., Brighterion Inc., ITRex Group, Clarifai Inc., AIBrain Inc., Milesight Technology USA.
The artificial intelligence of things (aiot) market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence Of Things (AIoT) Market Characteristics
3. Artificial Intelligence Of Things (AIoT) Market Trends And Strategies
4. Artificial Intelligence Of Things (AIoT) Market – Macro Economic Scenario
5. Global Artificial Intelligence Of Things (AIoT) Market Size and Growth
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31. Artificial Intelligence Of Things (AIoT) Market Other Major And Innovative Companies
32. Global Artificial Intelligence Of Things (AIoT) Market Competitive Benchmarking
33. Global Artificial Intelligence Of Things (AIoT) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Of Things (AIoT) Market
35. Artificial Intelligence Of Things (AIoT) Market Future Outlook and Potential Analysis
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