AI in IoT Market Key Highlights:
- Market Size (2024): USD 4.38 Billion
- Projected Market Size (2034): USD 17.40 Billion
- CAGR (2023-2034): 14.8%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
AI in IoT Market Definition
AI has turned out to be a credible technology that is capable of mimicking human cognitive abilities. IoT defines a set of interconnected devices with IDs that exchange data on a given network with minimal or no input from a human. The incorporation of AI into IoT has allowed organizations to design and create elaborate automatic systems that imitate human input and also acquire and process information independently without much interference from human input.
AI in IoT market is expanding because more AI solutions become integrated with IoT systems. This enables smart devices & networks to perform data acquisition, processing, and actions on the acquired data all in real time leading to increased automation, productivity & policy-making. The aim of minimizing the overall target system downtime/maintenance costs is considered to be the major driver of the market. AI in IoT applications is known in various domains, including personal and public transportation, smart residences, industries, and health systems.
North America was the largest consumer of AI in IoT in 2023. The expanding business deals in high technologies like cloud services, artificial intelligence, machine learning, business analytics solutions, IoT, etc, are targeting optimizing business processes and customer satisfaction to escalate the growth of the market.
AI in IoT Market Segmentation:
By Type
- Platforms
- Software Solutions
- Services
By Application
- Manufacturing
- Energy and Utilities
- Transportation and Mobility
- Banking, Financial Services, and Insurance
- Government and Defense
- Retail
- Others
AI in IoT Market Companies:
- IBM
- Microsoft
- Google
- PTC
- AWS
- Oracle
- GE
- Salesforce
- SAP
- Hitachi
- Uptake
- SAS
- Autoplant Systems India Pvt. Ltd.
- Kairos
- Softweb Solutions
- Arundo
- C3 IoT
- Anagog
- Thingstel
- Imagimob.
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