Global AI in IoT
Market Report
2024
AI in IoT market will be USD 5.5 billion in 2024 and expand at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global AI in IoT market will be USD 5.5 billion in 2024 and expand at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global AI in IoT Market Sales Revenue 2024 | $ 5.5 Billion |
Global AI in IoT Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 23.5% |
Market Split by Component |
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Market Split by Technologies |
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Market Split by Vertical |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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AI in IoT Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Artificial intelligence (AI) in the Internet of Things (IoT) refers to the application of AI technology to analyze enormous volumes of data generated by IoT devices, such as machine learning and deep learning. It comprises using AI algorithms to IoT data in order to extract valuable information, discover trends, and make predictions or judgments. Furthermore, automation is another facet of AI in IoT, in which AI-powered solutions streamline procedures, optimize business processes, and enable autonomous decisions across the IoT landscape. Furthermore, the combination of artificial intelligence with IoT has the potential to generate numerous benefits for both enterprises and consumers. AI in IoT solutions has the potential to increase corporate efficiency and productivity while also reducing expenses. Additionally, it can give increased convenience and a better user experience for consumers; such AI in IoT market trends are expected to create multiple potential opportunities during the forecast period. Furthermore, combining AI with IoT can improve data management and analytics while also providing businesses with a better understanding of their products. Such increased variables are projected to create attractive prospects for artificial intelligence in IoT market growth throughout the predicted years. Factors such as increased digitalization, a greater demand for intelligent business systems, and increased use of innovative technologies all had a beneficial impact on market growth.
Increasing Big Data Volume - The expansion of big data, as well as the rapidly increasing volume and complexity of data, is being driven by increased mobile traffic, cloud computing traffic, and the development and use of technologies such as IoT and AI. Big data analytics is an effective means of distributing data and generating insightful and practical knowledge from huge amounts of information. Organizations can benefit from significant predictive analytics in a variety of areas, including operations, marketing, risk assessment, and raid detection. For example, in a 2020 research, about 90% of business professionals and enterprise analytics stated that data and analytics are crucial to their organization's digital transformation efforts. Data and analytics are rapidly becoming critical components for businesses. Need for Effective Data Management
Growing Importance of Cybersecurity Concerns High Costs
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In May 2021, Google has announced Nest Hub, a new IoT-focused offering. It integrates Google Assistant technology with Google Photos, allowing the user to monitor and control all connected devices from a single dashboard. It combines AI and IoT to enable data transmission between equipment and aid in the development of smart homes. By combining IoT and AI technologies, the solution will let users use linked devices more effectively.
(Source: https://support.google.com/googlenest/answer/9136909?hl=en-IN)
Top Companies Market Share in AI in IoT Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, in 2024, North America dominated the AI in IoT market. This is owing to the widespread adoption of AI and IoT technology across a variety of industries, such as manufacturing, retail, healthcare, automotive, and transportation. This is one of the elements fueling the growth of the industry being studied in this field. North America is a top research region for developing IoT and AI applications for new end-user sectors. Cisco reports that the United States and Canada will have the highest average per capita device and connection counts by 2022. Furthermore, the United States AI in IoT market had the greatest market share, while Canada's AI in IoT market was the fastest expanding in the North American region.
Asia Pacific has the fastest CAGR over the forecast period. The market in this domain is being propelled by the resources that both public and private sector organizations are allocating to the advancement of this discipline. Furthermore, China dominated the AI in the IoT industry, while India was the fastest-expanding market in Asia-Pacific.
The current report Scope analyzes AI in IoT Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global AI in IoT Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing AI in IoT Industry growth. AI in IoT market has been segmented with the help of its Component, Technologies Vertical, and others. AI in IoT market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for AI in IoT market.
Component of AI in IoT analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of AI in IoT Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of AI in IoT from 2019 to 2031. This will also help to analyze the demand for AI in IoT across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Technologies of AI in IoT are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to Cognitive Market Research, Healthcare and life sciences dominated the AI in IoT market in 2024. Healthcare businesses can improve human performance in occupations such as making diagnostic or therapeutic decisions, supporting clinicians in illness treatment, and so on by collecting and processing high-frequency Internet of Things (IoT) sensor data using computer vision (AI). The combination of IoT and AI technologies (IoT) has the potential to improve routine physical mobility and balance assessments in healthcare greatly. Care practitioners can use IoT to expedite evaluation by reducing the number of steps required while ensuring the test is quantitative, trustworthy, and consistent.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
The Global AI in IoT Market is witnessing significant growth in the near future.
In 2023, the Platforms segment accounted for noticeable share of global AI in IoT Market and is projected to experience significant growth in the near future.
The ML and Deep Learning segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Amazon Web Services Inc. (Amazon Inc.) , Autoplant Systems India Pvt. Ltd and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Component | Platforms, Software Solutions, Services |
Technologies | ML and Deep Learning, NLP |
Vertical | Manufacturing, Energy and Utilities, Transportation and Mobility, BFSI, Government and Defense, Retail, Healthcare and Life Sciences, Telecom, Others (agriculture, education, telecom, and tourism and hospitality) |
List of Competitors | Amazon Web Services Inc. (Amazon Inc.), IBM Corporation, Autoplant Systems India Pvt. Ltd, SAP SE, Google LLC (Alphabet Inc.), Microsoft Corporation, Oracle Corporation com Inc., PTC Inc., SAS Institute Inc., General Electric, Hitachi ID Systems |
This chapter will help you gain GLOBAL Market Analysis of AI in IoT. Further deep in this chapter, you will be able to review Global AI in IoT Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Technologies Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Vertical Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global AI in IoT market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Platforms have a significant impact on AI in IoT market? |
What are the key factors affecting the Platforms and Software Solutions of AI in IoT Market? |
What is the CAGR/Growth Rate of ML and Deep Learning during the forecast period? |
By type, which segment accounted for largest share of the global AI in IoT Market? |
Which region is expected to dominate the global AI in IoT Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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