Global Artificial Intelligence (AI) in IoT Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 10, 2024 /EINPresswire.com/ -- The artificial intelligence (AI) in iot market has experienced robust growth in recent years, expanding from $12.02 billion in 2023 to $15.34 billion in 2024 at a compound annual growth rate (CAGR) of 27.6%. The growth in the historic period can be attributed to increasing demand for data management, rising demand in major industries, urbanization and industrialization, increase in iot device proliferation, regulatory support and incentives.

Strong Future Growth Anticipated
The artificial intelligence (AI) in iot market is projected to continue its strong growth, reaching $39.95 billion in 2028 at a compound annual growth rate (CAGR) of 27.0%. The growth in the forecast period can be attributed to 5g network expansion, increasing demand due to growing population, industry-specific ai applications, growing demand for powerful vehicles, increase in end-user demand.

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Growth Driver Of The Artificial Intelligence (AI) in IoT Market
The 5G network expansion is expected to propel the growth of artificial intelligence (AI) in IoT market going forward. 5G network expansion refers to the deployment and implementation of fifth-generation wireless cellular technology, which offers higher upload and download speeds, more consistent connections and improved capacity than previous networks. The high-speed, low-latency capabilities of 5G technology will significantly enhance the connectivity and data transfer capabilities of IoT devices, providing a robust foundation for the deployment of AI-driven applications.

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Artificial Intelligence (AI) In IoT Market Major Players And Market Trends
Key players in the artificial intelligence (AI) in iot market include Amazon Inc., Google LLC, Microsoft Corporation, Hitachi Ltd., General Electric (GE), Intel Corporation, Accenture PLC, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Fujitsu Limited, NVDIA Corporation, Salesforce Inc., Texas Instruments Incorporated, STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, ARM Holdings, PTC Inc., Softweb Solutions Inc., SpaceTime Insight Inc., CloudMinds Inc..
Major companies operating in the artificial intelligence (AI) in IoT market are focusing on introducing innovative solutions to increase their profitability in the market.

Artificial Intelligence (AI) In IoT Market Segments:
1) By Components: Software, Platforms, Services
2) By Technology: Machine Learning, Natural Language Processing, Image Processing, Speech Recognition
3) By-End-User: Energy And Utilities, Manufacturing, Retail, Transportation And Mobility, Banking Financial Services And Insurance (BFSI)

Geographical Insights: North America Leading The Market
North America was the largest region in the artificial intelligence (AI) in iot 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 (AI) in iot.

Artificial Intelligence (AI) in IoT Market Definition
Artificial intelligence of things (AIoT) refers to the combination of internet of things (IoT) infrastructure and artificial intelligence (AI) technology. It combines the capabilities of AI algorithms and models with the vast network of interconnected physical devices, sensors and systems that make up the IoT. It is used in the IoT to enhance the IoT's capabilities by enabling data analysis, predictive insights, automation and intelligent decision-making.

Artificial Intelligence (AI) in IoT 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 (AI) in IoT Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial intelligence (AI) in iot market size, artificial intelligence (AI) in iot market drivers and trends, artificial intelligence (AI) in iot market major players, artificial intelligence (AI) in iot competitors' revenues, artificial intelligence (AI) in iot market positioning, and artificial intelligence (AI) in iot market growth across geographies. The artificial intelligence (AI) in iot 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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