Market Overview:
The global AI in IoT market is expected to grow from USD 9.02 billion in 2018 to USD 38.81 billion by 2030, at a CAGR of 23.92% during the forecast period. The growth of the AI in IoT market can be attributed to the increasing demand for smart devices and rising adoption of cloud-based services. However, data privacy and security concerns may restrain the growth of this market during the forecast period. The global AI in IoT market is segmented on the basis of type, application, and region. On the basis of type, it is divided into platforms, software solutions, and services segments. The platforms segment is further classified into rule-based platform and cognitive platform segments; while software solutions are classified into predictive analytics software solution and prescriptive analytics software solution segments; services are categorized as professional services and managed services segments respectively). By application area Manufacturing sector accounted for largest share in 2017 owing to increased deployment of industrial robots across various industries such as automotive manufacturing & assembly line operations etc.
Product Definition:
Artificial intelligence (AI) is a process of programming a computer to make decisions for itself. In the context of the internet of things (IoT), AI can be used to process data from connected devices in order to make automated decisions that improve the efficiency or functionality of an IoT system. For example, if a sensor detects that it is getting too hot, AI could be used to decide whether or not to turn on a fan in response.
Platforms:
Platforms are software frameworks that provide a structure, support, and tools for developing mobile applications. They comprise operating systems (OS), application development tools, middleware and an API (Application Programming Interface) library. The OS includes Android or iOS as an example of a mobile operating system; while the Application Development Tools include Xcode or Visual Studio for Applets/ Widgets etc.
Software Solutions:
Software solutions are used in Artificial Intelligence (AI) in the Internet of Things (IoT) market for various applications such as data analytics, machine learning, and Natural Language Processing (NLP). The software helps to analyze the large volumes of data generated from connected devices. It also helps to train and deploy AI models that can process information quickly. These solutions provide a platform for building voice-enabled applications that can understand human speech and carry out commands using an interactive interface.
Application Insights:
The manufacturing sector accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growing adoption of smart devices, sensors, and actuators in various processes such as material handling, assembly line monitoring, quality control, robotics management systems is anticipated to drive the market growth. Moreover, increasing demand for connected factories from OEMs and MNCs is projected to fuel industry expansion over the coming years.
The energy & utilities segment accounted for a significant revenue share in 2017 owing to rising penetration of AI platforms that offer real-time analytics across numerous data points collected from physical devices or sensors within electrical grid or power plants. Such platforms enable automation through rules based systems that optimize operational procedures across departments within an energy company with minimal human intervention required previously.
Regional Analysis:
The North American regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing investments in artificial intelligence, high availability of cloud infrastructure, and growing adoption of IoT technologies across various sectors such as manufacturing, retail, healthcare & life sciences, transportation & logistics. Moreover rising demand for consumer electronics with advanced connectivity capabilities is also anticipated to drive the regional market growth during the forecast period.
Asia Pacific region is projected to witness significant growth over the next eight years owing to increasing government initiatives pertaining toward deployment of innovative solutions using artificial intelligence technology across several industries such as healthcare and life sciences; banking; financial services; government departments including defense sector). Furthermore growing industrialization coupled with increased spending on developing smart cities initiative are further expected boost industry expansion within this region.
Growth Factors:
- Increasing demand for AI-powered IoT devices and applications from various industries
- Growing number of AI startups focused on developing innovative IoT solutions
- Proliferation of low-cost, energy-efficient processors and sensors that support AI functions
- Advances in machine learning and deep learning algorithms that improve the accuracy of predictions made by AI systems
- Emergence of cloud platforms that provide scalable infrastructure and services for deploying large-scale AI applications
Scope Of The Report
Report Attributes
Report Details
Report Title
AI in IoT Market Research Report
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
By 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
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
141
Number of Tables & Figures
99
Customization Available
Yes, the report can be customized as per your need.
Global AI in IoT Market Report Segments:
The global AI in IoT market is segmented on the basis of:
Types
Platforms, Software Solutions, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Manufacturing, Energy and Utilities, Transportation and Mobility, Banking, Financial Services, and Insurance, Government and Defense, Retail, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 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
Highlights of The AI in IoT Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- 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
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the AI in IoT Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
AI in IoT refers to the use of artificial intelligence technology in devices and systems that interact with the internet of things. This can include anything from smart home devices, to industrial equipment, to vehicles. AI can help these systems make better decisions based on data collected from their surroundings, and can also help them communicate with one another more effectively.
Some of the key players operating in the ai in iot market are 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.
The ai in iot market is expected to register a CAGR of 23.92%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 AI in IoT Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 AI in IoT Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 AI in IoT Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the AI in IoT Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global AI in IoT Market Size & Forecast, 2018-2028
4.5.1 AI in IoT Market Size and Y-o-Y Growth
4.5.2 AI in IoT Market Absolute $ Opportunity
Chapter 5 Global AI in IoT Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 AI in IoT Market Size Forecast by Type
5.2.1 Platforms
5.2.2 Software Solutions
5.2.3 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global AI in IoT Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 AI in IoT Market Size Forecast by Applications
6.2.1 Manufacturing
6.2.2 Energy and Utilities
6.2.3 Transportation and Mobility
6.2.4 Banking
6.2.5 Financial Services
6.2.6 and Insurance
6.2.7 Government and Defense
6.2.8 Retail
6.2.9 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global AI in IoT Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 AI in IoT Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America AI in IoT Analysis and Forecast
9.1 Introduction
9.2 North America AI in IoT Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America AI in IoT Market Size Forecast by Type
9.6.1 Platforms
9.6.2 Software Solutions
9.6.3 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America AI in IoT Market Size Forecast by Applications
9.10.1 Manufacturing
9.10.2 Energy and Utilities
9.10.3 Transportation and Mobility
9.10.4 Banking
9.10.5 Financial Services
9.10.6 and Insurance
9.10.7 Government and Defense
9.10.8 Retail
9.10.9 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe AI in IoT Analysis and Forecast
10.1 Introduction
10.2 Europe AI in IoT Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe AI in IoT Market Size Forecast by Type
10.6.1 Platforms
10.6.2 Software Solutions
10.6.3 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe AI in IoT Market Size Forecast by Applications
10.10.1 Manufacturing
10.10.2 Energy and Utilities
10.10.3 Transportation and Mobility
10.10.4 Banking
10.10.5 Financial Services
10.10.6 and Insurance
10.10.7 Government and Defense
10.10.8 Retail
10.10.9 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific AI in IoT Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific AI in IoT Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific AI in IoT Market Size Forecast by Type
11.6.1 Platforms
11.6.2 Software Solutions
11.6.3 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific AI in IoT Market Size Forecast by Applications
11.10.1 Manufacturing
11.10.2 Energy and Utilities
11.10.3 Transportation and Mobility
11.10.4 Banking
11.10.5 Financial Services
11.10.6 and Insurance
11.10.7 Government and Defense
11.10.8 Retail
11.10.9 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America AI in IoT Analysis and Forecast
12.1 Introduction
12.2 Latin America AI in IoT Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America AI in IoT Market Size Forecast by Type
12.6.1 Platforms
12.6.2 Software Solutions
12.6.3 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America AI in IoT Market Size Forecast by Applications
12.10.1 Manufacturing
12.10.2 Energy and Utilities
12.10.3 Transportation and Mobility
12.10.4 Banking
12.10.5 Financial Services
12.10.6 and Insurance
12.10.7 Government and Defense
12.10.8 Retail
12.10.9 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) AI in IoT Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) AI in IoT Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) AI in IoT Market Size Forecast by Type
13.6.1 Platforms
13.6.2 Software Solutions
13.6.3 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) AI in IoT Market Size Forecast by Applications
13.10.1 Manufacturing
13.10.2 Energy and Utilities
13.10.3 Transportation and Mobility
13.10.4 Banking
13.10.5 Financial Services
13.10.6 and Insurance
13.10.7 Government and Defense
13.10.8 Retail
13.10.9 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 AI in IoT Market: Competitive Dashboard
14.2 Global AI in IoT Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Microsoft
14.3.3 Google
14.3.4 PTC
14.3.5 AWS
14.3.6 Oracle
14.3.7 GE
14.3.8 Salesforce
14.3.9 SAP
14.3.10 Hitachi
14.3.11 Uptake
14.3.12 SAS
14.3.13 Autoplant Systems India Pvt. Ltd.
14.3.14 Kairos
14.3.15 Softweb Solutions
14.3.16 Arundo
14.3.17 C3 IoT
14.3.18 Anagog
14.3.19 Thingstel
14.3.20 Imagimob
