What Is The Current and Historic Market Size Analysis Of The Artificial Intelligence AI in IoT Market?
The artificial intelligence ai in iot market has seen considerable growth due to a variety of factors.
• In the past few years, the artificial intelligence (AI) in internet of things (iot) market has seen significant expansion. Projections show that it will rise from $15.34 billion in 2024 to $19.49 billion in 2025, implying a compound annual growth rate (CAGR) of 27.0%.
The notable growth during the historical period can be traced back to the escalating need for data management, increased demand from significant industries, urbanization and industrialization, the rising prevalence of iot devices, and regulatory incentives and support.
What Is The Forecast For The Artificial Intelligence AI in IoT Market Size?
The artificial intelligence ai in iot market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the artificial intelligence (AI) in iot market size project immense growth in the coming years. By 2029, estimates show it reaching $50.86 billion, growing at a compound annual growth rate (CAGR) of 27.1%.
Factors facilitating this growth during the forecasted period include expansion of the 5g network, heightened demand from an expanding population, AI's specialized industrial applications, a growing desire for more robust vehicles, and a rise in end-user demand. Other trends to watch during the forecast period are the increasing demand for AI in IoT within developing markets.
What Are The Essential Drivers Behind The Growth Of The Artificial Intelligence AI in IoT Market?
The proliferation of the 5G network is set to boost the advancement of artificial intelligence in the IoT sector. The term '5G network expansion' denotes the development and execution of the fifth iteration of cellular technology. This technology surpasses its predecessors in terms of upload and download speeds, stability of connections and improved overall capacity. The low-latency, high-speed attributes of the 5G technology massively augment the connectivity and data transmission capacity of IoT devices, thereby establishing a powerful platform for the rollout of applications anchored on artificial intelligence. For instance, 5G Americas, a firm based in the US that offers telecommunication services, released reports in June 2022 indicating that worldwide 5G connections grew to 701 million in the first quarter of 2022, reflecting a 17% rise from the fourth quarter of 2021. By the close of 2026, these connections are projected to hit 4.8 billion. This indicates that the expansion of the 5G network is contributing significantly to the growth of artificial intelligence within the IoT market.
How Is The Global Artificial Intelligence AI in IoT Market Divided Into Key Segments?
The artificial intelligence (AI) in iot market covered in this report is segmented –
1) By Components: Software, Platforms, Services
2) By Technology: Machine Learning, Natural Language Processing, Image Processing, Speech Recognition
3) By-End-User: Energy And Utilities, Manufacturing, Retail, Transportation And Mobility, Banking Financial Services And Insurance (BFSI)
Subsegments:
1) By Software: AI Analytics Software, Edge AI Software, Security Software
2) By Platforms: IoT Platforms With AI Capabilities, Cloud-Based AI Platforms, Device Management Platforms
3) By Services: Consulting Services, Integration Services, Support And Maintenance Services
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What Trends Are Shaping The Artificial Intelligence AI in IoT Market?
The key players in the AI in IoT market are concentrating on launching creative solutions to boost their market profits. Checkpoint Software Technologies Ltd., an Israel-based software company, exemplifies this trend by unveiling a new product, Check Point Quantum Titan, in October 2022. This fresh addition to the Check Point Quantum cybersecurity platform is designed to deliver speedy AI-assisted network security and enhanced threat prevention for applications based on-premise, cloud, and IoT. Its encompassing features like AI-assisted network security, advanced threat prevention, IoT security, and hyper-scalable protections are proactive tools against cyber-attacks.
Who Are the Key Players In The Artificial Intelligence AI in IoT Market?
Major companies operating in the artificial intelligence (AI) in IoT market report are:
• Amazon Inc.
• Google LLC
• Microsoft Corporation
• Hitachi Ltd.
• General Electric (GE)
• Intel Corporation
• Accenture PLC
• International Business Machines Corporation
• Cisco Systems Inc.
• Qualcomm Technologies Inc.
• Oracle Corporation
• Honeywell International Inc.
• SAP SE
• Fujitsu Limited
• NVDIA Corporation
• Salesforce Inc.
• Texas Instruments Incorporated
• STMicroelectronics
• Infineon Technologies AG
• Renesas Electronics Corporation
• ARM Holdings
• PTC Inc.
• Softweb Solutions Inc.
• SpaceTime Insight Inc.
• CloudMinds Inc.
What Are The Regional Insights Into The Artificial Intelligence AI in IoT Market?
North America was the largest region in the artificial intelligence (AI) in IoT market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in iot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
