What Has Been the Progress and Growth of the Artificial Intelligence Of Things AIoT Market in Recent Years?
The artificial intelligence of things aiot market has seen considerable growth due to a variety of factors.
• In recent years, there has been a significant expansion in the market size for the artificial intelligence of things (AIoT). The market is anticipated to swell from $9.98 billion in 2024 to $13.26 billion in 2025, reflecting a compound annual growth rate (CAGR) of 32.9%.
The drivers behind this remarkable growth during the historic period include the proliferation of IoT, advancements in AI, data growth, and AIoT security concerns.
How Does the Forecast Look for the Artificial Intelligence Of Things AIoT Market?
The artificial intelligence of things aiot market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for the Artificial Intelligence of Things (AIoT) is predicted to witness substantial expansion in the forthcoming years. The expected growth is projected to reach $41.54 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 33.0%.
The expansion during the projection period is linked to the proliferation of the 5G network, increased edge computing, the implementation of AIoT in healthcare and its use in the development of smart cities. The forecast period also indicates significant trends in AIoT analytics, its utility in retail and energy management, and its application in the transport sector.
What Are The Leading Drivers Of Growth In The Artificial Intelligence Of Things AIoT Market?
The rise in cloud adoption is projected to fuel the AIoT market's expansion. A cloud is composed of a distributed server cluster that provides the infrastructure and software which can be accessed online. Utilizing cloud computing platforms, cloud-based AIoT manages and processes data obtained from IoT devices. This implies that the cloud stores and processes data from IoT devices while AI is used for analyzing it and making decisions based on that analysis. For example, Canalys, a Singapore-based market analyst firm specializing in technology, reported in February 2022 that the expenditure on global cloud infrastructure services surged by 35% to $191.7 billion, a significant rise from $142.0 billion over the previous two years. Moreover, according to UK's IT support and digital transformation services provider, AAG IT Services & Cyber Security in August 2023, it was found that approximately 60% of corporate data was stored in the cloud in 2022, and it is predicted that by 2025, global data stored in the cloud will touch 200 zettabytes. As such, the rise in cloud adoption is a major factor driving the AIoT market's growth.
Artificial Intelligence Of Things (AIoT) Market Driver: Surge in Internet Of Things (IOT) Devices Usage Propels the Artificial Intelligence Of Things (AIOT) Market
How Are The Segments Defined Within The Global Artificial Intelligence Of Things AIoT Market?
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
Subsegments:
1) By Solutions: AI Hardware, AI Software, Connectivity Solutions, Data Management Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training And Education Services
Pre-Book The Artificial Intelligence Of Things AIoT Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Artificial Intelligence Of Things AIoT Market?
Leading firms in the AIoT industry are striving to enhance the assimilation of AI and IoT, amplify their data processing proficiency, and broaden their applications across various sectors to consolidate their market standing. They are leveraging the potential of AI and IoT to engineer more competent and intelligent systems. For instance, in January 2022, a collaborative initiative between Origin Wireless Inc., a technology company based in South Africa, and nami.AI of Singapore, involved launching a novel AIoT platform. This platform utilizes Wi-Fi access points to deliver sensing capabilities to the smallest smart devices, enabling them to differentiate between humans, pets, robotic vacuum cleaners, and other appliances.
Who Are the Key Players In The Artificial Intelligence Of Things AIoT Market?
Major companies operating 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.
What Is The Most Dominant Region In The Artificial Intelligence Of Things AIoT Market?
North America was the largest region in the artificial intelligence of things (AIoT) market in 2024. 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.
