Artificial Intelligence Of Things (AIoT) Platforms Market Analysis With Opportunity Segments
Artificial Intelligence Of Things (AIoT) Platforms Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
TBRC's Artificial Intelligence Of Things (AIoT) Platforms Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 12, 2024 /EINPresswire.com/ -- The artificial intelligence of things (AIoT) platforms market has experienced robust growth in recent years, expanding from $4.41 billion in 2023 to $6.2 billion in 2024 at a compound annual growth rate (CAGR) of 40.5%. The growth in the historic period can be attributed to increasing government spending and initiatives to establish aiot platform developments, increasing use of AIoT platforms for connected device data monitoring and analysis, development of platforms for different industry verticals by various organizations, application of aiot in supply chain management, quality assurance, and energy optimization, rising demand for smart devices.
Strong Future Growth Anticipated
The artificial intelligence of things (AIoT) platforms market is projected to continue its strong growth, reaching $21.9 billion in 2028 at a compound annual growth rate (CAGR) of 37.1%. The growth in the forecast period can be attributed to increasing government spending and initiatives on AIoT platform developments, advancements in edge computing, rise in 5G connectivity, customer experience enhancement, rising security concerns.
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Growth Driver Of The Artificial Intelligence Of Things (AIoT) Platforms Market
The rise in demand for smart devices is expected to propel the growth of the AIoT platforms market going forward. Smart devices are electronic devices that are generally connected to other devices or networks via different wireless protocols, such as Bluetooth, Zigbee, Wi-Fi, or 5G, and that can operate to some extent interactively and autonomously. AIoT platforms are used to enhance the capabilities of smart devices by leveraging artificial intelligence (AI) to analyze and act on the data generated by these devices.
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Major Players And Market Trends
Key players in the artificial intelligence of things (AIoT) platforms market include Alphabet Inc., Microsoft Corporation, Huawei Technologies Co. Ltd., Tencent Cloud, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Xiaomi Technology Co. Ltd., Robert Bosch GmbH, SAP SE, Fujitsu Ltd., ABB Ltd., Hewlett Packard Enterprise Company, Sharp Corporation, NXP Semiconductors N.V., SAS Institute Inc., PTC Inc., Axiomtek Co. Ltd., Litmus Automation Inc., Autoplant Systems India Private Limited.
Major companies operating in the AIoT Platforms market are developing innovative technologies, such as the AIoT Platform Stack, to sustain their position in the market. An AIoT platform stack is a collection of hardware, software, and tools that enable developers to build and deploy AI applications for the Internet of Things (IoT).
Segments:
1) By Component: Software Or Platform, Services, Professional, Managed
2) By Deployment: On-premises, Cloud
3) By Industry Vertical: Manufacturing, Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Energy And Utilities, Transportation And Logistics, Other Industry Verticals
Geographical Insights: North America Leading The Market
North America was the largest region in the artificial intelligence of things (AIoT) platforms market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of artificial intelligence of things (AIoT) platforms.
Artificial Intelligence Of Things (AIoT) Platforms Market Definition
Artificial Intelligence of Things (AIoT) platforms refer to technology frameworks or systems that integrate artificial intelligence (AI) capabilities with Internet of Things (IoT) devices and data. They can enhance the capabilities of traditional IoT systems by adding intelligent processing and decision-making capabilities, enabling more efficient and effective operations across various industries and applications.
Artificial Intelligence Of Things (AIoT) Platforms Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Artificial Intelligence Of Things (AIoT) Platforms Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial intelligence of things (AIoT) platforms market size, artificial intelligence of things (AIoT) platforms market drivers and trends, artificial intelligence of things (AIoT) platforms market major players, artificial intelligence of things (AIoT) platforms competitors' revenues, artificial intelligence of things (AIoT) platforms market positioning, and artificial intelligence of things (AIoT) platforms market growth across geographies. The artificial intelligence of things (AIoT) platforms market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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