Global Artificial Intelligence Of Things Aiot Market Segments 2024, Forcast To 2033
19 Mar, 2024
The AIoT market has undergone exponential growth, surging from $7.52 billion in 2023 to $9.98 billion in 2024, demonstrating a remarkable 32.7% Compound Annual Growth Rate (CAGR). Historical growth is attributed to the proliferation of IoT, advancements in AI, data growth, and concerns regarding AIoT security. Expectations for continued exponential growth are high, with the market projected to reach $31.05 billion in 2028 at a 32.8% CAGR. Projected drivers include 5G network expansion, growth in edge computing, AIoT applications in healthcare, and AIoT applications in smart cities. Noteworthy trends in the forecast period encompass AIoT analytics, AIoT in retail, AIoT in energy management, and AIoT in transportation.
Global Artificial Intelligence Of Things AIoT Market Key Driver
The surge in cloud adoption is poised to drive the expansion of the AIoT market. A cloud, serving as a distributed server group hosting infrastructure and software, is accessible online. Cloud-based AIoT leverages cloud computing platforms to manage and process data originating from IoT devices. This approach involves using the cloud to store and process data from IoT devices, with AI playing a role in analyzing and making decisions based on that data. Notably, in February 2022, Canalys reported a 35% increase in global cloud infrastructure services expenditure, reaching US$191.7 billion from US$142.0 billion in 2020. Additionally, AAG IT Services & Cyber Security noted in August 2023 that around 60% of corporate data was stored in the cloud in 2022, and global cloud-stored data is projected to reach 200 zettabytes by 2025. Hence, the upswing in cloud adoption is a driving force behind the growth of the AIoT market.
Get A Free Sample Of The Global Artificial Intelligence Of Things AIoT Market ReportGlobal Artificial Intelligence Of Things AIoT Market Segments
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
By Geography: The regions covered in the artificial intelligence of things aiot market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
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.
Major Artificial Intelligence Of Things AIoT Industry Players
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
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Artificial Intelligence Of Things AIoT MarketOverview
Artificial Intelligence of Things (AIoT) is the integration of AI technologies with Internet of Things (IoT) infrastructure to improve data management and analytics, IoT operations and human-machine interactions. The primary objective of this technology is to utilize the benefits of IoT by relying on Artificial Intelligence to improve decision-making processes by quickly and precisely giving operational insights.
Artificial Intelligence Of Things (AIoT) Market Global Market Report 2023 provides data on the global artificial intelligence of things (aiot) market market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence of things (aiot) market market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.