How Has the Generative AI In IoT Market Size Evolved in Recent Years?
The generative ai in iot market has seen considerable growth due to a variety of factors.
• In recent times, there's been a significant expansion in the market size of generative AI in IoT. The market is projected to rise from $1.58 billion in 2024 to $2.03 billion in 2025, noting a compound annual growth rate (CAGR) of 28.3%.
The notable growth during the historic period is chiefly due to greater adoption of IoT devices, heightened demand for better security, the requirement for improved operational efficiency, advancements in AI technology, rise in data volumes, amplified emphasis on predictive maintenance, and the development of cloud computing.
What Are The Predictions for The Generative AI In IoT Market in the Coming Years?
The generative ai in iot market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a significant surge in the market size of generative AI in the field of IoT is predicted. The market is expected to escalate to $5.47 billion by 2029, with an annual compound growth rate (CAGR) of 28.1%.
The expansion during the anticipated timeframe can be linked to the escalating intricacy of IoT systems, the unification of AI and edge computing, advancement of smart cities schemes, a surge in AI research and development funding, progress in natural language processing, increased importance on customization, and the enhancement of AI regulations and standards. The predicted period also encompasses key trends like AI algorithm advancement, incorporation of generative AI with 5G technology, autonomous system growth, widening of AI-driven analytics, the rise of edge AI solutions, increased AI-driven personalization, and emphasis on energy efficiency.
Which Drivers Are Accelerating Growth In The Generative AI In IoT Market?
The surge in the need for anomaly detection on IoT networks is anticipated to propel the rise of generative AI in the IoT market. Anomaly detection in such networks involves spotting atypical patterns or activities in data generated by Internet of Things gadgets. The growth in demand for this detection is linked to enhanced security necessities, early identification of issues, and the sustenance of the reliability and productivity of linked systems. Generative AI enhances anomaly identification on IoT networks by employing sophisticated algorithms to locate odd behaviors and patterns, consequently augmenting security, minimizing downtime, optimizing system performance, and aiding proactive servicing and decision making. For example, a report by an Israeli software security provider, Check Point, in April 2023 stated that there was a 41% rise in the average number of weekly attacks per organization targeting IoT devices in the first two months of 2023 compared to 2022. On average, 54% of organizations undergo attempted cyber-attacks on IoT devices every week. Thus, the surge in demand for anomaly detection in IoT networks is stimulating the production of AI in the IoT market.
What Are The Core Segments Of The Global Generative AI In IoT Market?
The generative AI in IoT market covered in this report is segmented –
1) By Technology Providers: Established AI Technology Companies, IoT Platform Providers, Cloud Service Providers, Specialized Generative AI Startups
2) By Deployment Mode: On Device, Cloud Based
3) By Application: Anomaly Detection, Predictive Maintenance, Adaptive Control, Resource Optimization, Personalized Services, Contextual Decision Making
4) By Industry Vertical: Manufacturing, Healthcare, Transportation, Agriculture, Other Industries
Subsegments:
1) By Established AI Technology Companies: Major AI Solution Providers, Global Tech Enterprises, AI-Focused Research Labs, AI Hardware Providers
2) By IoT Platform Providers: End-to-End IoT Platform Vendors, IoT Device Management Providers, Edge Computing Platform Providers, Connectivity Management Solutions
3) By Cloud Service Providers: Cloud Infrastructure Providers, Cloud-Based AI And ML Service Providers, Hybrid Cloud Solution Providers
4) By Specialized Generative AI Startups: Niche AI Startups Focused On IoT Integration, Emerging AI-Driven IoT Solutions Companies, Vertical-Specific AI Startups, Edge AI And Analytics Startups
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Which Emerging Market Trends Are Altering The Generative AI In IoT Industry?
Key businesses within the generative AI in IoT industry are prioritizing the advancement of technology, such as AI IoT security assistants. These advancements aim to boost operational efficiency, simplify intricate tasks, and fill the cybersecurity skill void by utilizing generative AI technology. By providing on-the-spot analysis of security events, automated threat identification, and producing valuable insights, AI-led security assistants enhance cyber safety. For example, Fortinet Inc., a cybersecurity firm based in the US, debuted its first generative AI IoT security assistant in May 2024 as an extension of its GenAI network and security operations offerings. This revolutionary service incorporates FortiAI, Fortinet’s sophisticated context-aware AI assistant, for optimized network and security control. Equipped with the ability to handle natural language inquiries, the AI assistant allows IT and security staff to quickly and efficiently carry out tasks such as GenAI-assisted scripting, IoT vulnerability detection, and simplified threat analysis. This innovative solution addresses the lack of cybersecurity skills and streamlines operations by simplifying and accelerating complex tasks.
Who Are the Key Players In The Generative AI In IoT Market?
Major companies operating in the generative AI in IoT market are:
• Google LLC
• Microsoft Corporation
• Dell Technologies Inc.
• Bosch Group
• Huawei Technologies Co. Ltd.
• Amazon Web Services Inc. (AWS)
• Siemens AG
• General Electric Company (GE)
• Intel Corporation
• Accenture plc
• International Business Machines Corporation (IBM)
• Cisco Systems Inc.
• Qualcomm Incorporated
• Oracle Corporation
• Schneider Electric SE
• Honeywell International Inc.
• SAP SE
• Fujitsu Limited
• NVIDIA Corporation
• Keysight Technologies Inc
• Fortinet.Inc
• Hitachi Vantara LLC
• PTC Inc.
• Palantir Technologies Inc.
• Temenos AG
• C3.AI inc.
What Are The Regional Insights Into The Generative AI In IoT Market?
North America was the largest region in the generative AI in IoT market in 2024. The regions covered in the generative AI in IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
