Artificial Intelligence Plus Internet of Things AIOT Market Report 2024 (Global Edition)

Global Artificial Intelligence Plus Internet of Things AIOT Market Report 2024 Market Size Split by Deployment (Cloud-based, Edge AloT), by Application (Video Surveillance, Robust Asset Management, I...

Artificial Intelligence Plus Internet of Things AIOT Market Report Description

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Competitive Landscape Of The Artificial Intelligence Plus Internet Of Things AIoT Market

In the competitive landscape of the Artificial Intelligence Plus Internet of Things (AIoT) market, dynamic and innovative forces are shaping the industry's trajectory. Established players and emerging contenders are engaged in a race to deliver cutting-edge solutions that seamlessly integrate AI and IoT technologies, addressing the evolving demands of diverse industries.

February 2023: Aspen Technology Inc. has partnered with Inmation Software and AloT Hub to expand its footprint. The addition of software to the AspenTech portfolio is a major step to aid companies in extracting more value from their industrial data strategy.

Source-www.aspentech.com/en/resources/press-releases/aspentech-launches-dataworks

Top Companies Market Share in Artificial Intelligence Plus Internet of Things AIOT Industry: (In no particular order of Rank)

• BOSCH (Germany)
• Advantech Co.
• Ltd. (Taiwan)
• Nvidia Corporation (U.S.)
• CMS Info Systems (India)
• Amazon Web Services (U.S.)
• Microsoft (U.S.)
• Inventec Corporation (Taiwan)
• Intel (U.S.)
• Qualcomm (U.S.)
• ARM (U.K.)
• PTC (U.S.)
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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.

In terms of revenue, the North America Artificial Intelligence Plus Internet Of Things Aiot market share was 40% of the total market

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 11286.08 million in 2023 and will grow at a compound annual growth rate (CAGR) of 31.7% from 2023 to 2030. This region, comprising the United States and Canada, stands as a technological hub with a mature and sophisticated adoption of AIoT solutions. In North America, the healthcare sector represents a significant segment, leveraging AIoT for applications such as remote patient monitoring and predictive healthcare analytics. The dominance of North America in the AIoT market is attributed to its robust technological infrastructure, strategic investments, and a dynamic ecosystem of tech innovators. As AIoT continues to evolve, North America remains a key driver, leading the way in shaping the future of intelligent and interconnected technologies across various industries. 

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which Asia-Pacific held the fastest growing market of more than 40% of the global revenue with a market size of USD 6489.50 million in 2023 and will grow at a compound annual growth rate (CAGR) of 35.5% from 2023 to 2030. The Asia-Pacific region, encompassing countries like China, India, and Japan, showcases a dynamic landscape where technological innovation is accelerating across diverse industries. In this burgeoning market, the manufacturing sector stands out as a key segment, leveraging AIoT for smart production and supply chain optimization. The rapid growth in Asia-Pacific is fuelled by increasing investments in IoT infrastructure, rising tech adoption, and a burgeoning awareness of the transformative potential of AIoT solutions. As the region continues to embrace intelligent technologies, Asia-Pacific positions itself as a vital player, driving innovation and shaping the trajectory of the global AIoT landscape.

The current report Scope analyzes Artificial Intelligence Plus Internet of Things AIOT 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

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Artificial Intelligence Plus Internet of Things AIOT

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 11286.08 million in 2023 and will grow at a compound annual growth rate (CAGR) of 31.7% from 2023 to 2030. This region, comprising the United States and Canada, stands as a technological hub with a mature and sophisticated adoption of AIoT solutions. In North America, the healthcare sector represents a significant segment, leveraging AIoT for applications such as remote patient monitoring and predictive healthcare analytics. The dominance of North America in the AIoT market is attributed to its robust technological infrastructure, strategic investments, and a dynamic ecosystem of tech innovators. As AIoT continues to evolve, North America remains a key driver, leading the way in shaping the future of intelligent and interconnected technologies across various industries.

• According to Cognitive Market Research, the US had a major share in the Artificial Intelligence plus Internet of Things Aiot market with a market size of USD 8904.72 million in 2023 and is projected to grow at a CAGR of 31.5% during the forecast period. This is majorly due to the robust technological infrastructure, strategic investments, and inclusivity also play key roles in sustaining market growth and demand. 
• The Canadian artificial Intelligence plus Internet of Things Aiot market had a market share of USD 1354.33 million in 2023 and is projected to grow at a CAGR of 32.5% during the forecast period. This is due to the dynamic ecosystem of tech innovators in the country. 
• The Mexico Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.2% during the forecast period with a market size of USD 1027.03 million in 2023.

Europe Artificial Intelligence Plus Internet of Things AIOT

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 8464.56 million in 2023 and will grow at a compound annual growth rate (CAGR) of 32.0% from 2023 to 2030. With a technologically mature landscape, Europe has been a driving force in AIoT adoption. The regional analysis reveals that countries such as the United Kingdom, Germany, and France are at the forefront of integrating AI and IoT technologies. In this diverse market, the segment gaining prominence is healthcare, where AIoT applications enhance patient care and operational efficiency. Europe's dominance is marked by its commitment to innovation, as evidenced by strategic collaborations and investments. As Europe continues to lead in the AIoT domain, the market presents significant opportunities for advancements, further solidifying its position in shaping the future of intelligent and interconnected technologies. 

• According to Cognitive Market Research, the Germany Artificial Intelligence plus Internet of Things Aiot market size was valued at USD 1675.98million in 2023 and is projected to grow at a CAGR of 32.2% during the forecast period. This is majorly due to the growing technologically mature landscape, and inclusivity also play key roles in sustaining market growth and demand. 
• The United Kingdom Artificial Intelligence plus Internet of Things Aiot market had a market share of USD 1422.05million in 2023 and is projected to grow at a CAGR of 32.8% during the forecast period. This is due to the commitment to innovation, as evidenced by strategic collaborations and investments in the country. 
• The France Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 31.2% during the forecast period with a market size of USD 778.74million in 2023.
• The Italy Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 31.4% during the forecast period with a market size of USD 727.95million in 2023.
• The Russia Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 31.0% during the forecast period with a market size of USD 1312.01million in 2023.
• The Spain Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 31.1% during the forecast period with a market size of USD 694.09million in 2023.
• The Portugal Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 31.8% during the forecast period with a market size of USD 177.76million in 2023.
• The Luxembourg Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.1% during the forecast period with a market size of USD 262.40million in 2023.
• The Greece Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.3% during the forecast period with a market size of USD 101.57million in 2023.
• The Rest of Europe Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 30.7% during the forecast period with a market size of USD 1312.01million in 2023.

Asia Pacific Artificial Intelligence Plus Internet of Things AIOT

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which Asia-Pacific held the fastest growing market of more than 40% of the global revenue with a market size of USD 11286.08 million in 2023 and will grow at a compound annual growth rate (CAGR) of 35.5% from 2023 to 2030. The Asia-Pacific region, encompassing countries like China, India, and Japan, showcases a dynamic landscape where technological innovation is accelerating across diverse industries. In this burgeoning market, the manufacturing sector stands out as a key segment, leveraging AIoT for smart production and supply chain optimization. The rapid growth in Asia-Pacific is fuelled by increasing investments in IoT infrastructure, rising tech adoption, and a burgeoning awareness of the transformative potential of AIoT solutions. As the region continues to embrace intelligent technologies, Asia-Pacific positions itself as a vital player, driving innovation and shaping the trajectory of the global AIoT landscape.

• According to Cognitive Market Research, the China Artificial Intelligence plus Internet of Things Aiot market size was valued at USD 2920.27million in 2023 and is projected to grow at a CAGR of 35.0% during the forecast period. This is majorly due to the growing technological innovation is accelerating across diverse industries, and inclusivity also play key roles in sustaining market growth and demand. 
• The India Artificial Intelligence plus Internet of Things Aiot market had a market share of USD 37.3%million in 2023 and is projected to grow at a CAGR of during the forecast period. This is due to the increasing investments in IoT infrastructure, rising tech adoption. 
• The Japan Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 34.0% during the forecast period with a market size of USD 895.55million in 2023.
• The South Korea Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 34.6% during the forecast period with a market size of USD 648.95million in 2023.
• The Australia Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 35.2% during the forecast period with a market size of USD 337.45million in 2023.
• The South East Asia Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 36.5% during the forecast period with a market size of USD XX million in 2023.
• The Rest of Asia Pacific Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 35.3% during the forecast period with a market size of USD 460.75million in 2023.

South America Artificial Intelligence Plus Internet of Things AIOT

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 1410.76 million in 2023 and will grow at a compound annual growth rate (CAGR) of 32.9% from 2023 to 2030. The regional analysis underscores a developing landscape where countries like Brazil, Mexico, and Argentina are embracing AIoT technologies across various sectors. In Latin America, the logistics industry stands out as a key segment, leveraging AIoT for supply chain optimization and real-time tracking. Despite a relatively smaller market share, Latin America showcases a growing awareness of the transformative potential of AIoT solutions. As the region continues to invest in technological advancements, Latin America presents an evolving market with substantial opportunities for AIoT integration, contributing to the region's journey in harnessing the power of intelligent and interconnected technologies.

• According to Cognitive Market Research, the Brazil Artificial Intelligence Plus Internet Of Things Aiot market size was valued at USD 603.81million in 2023 and is projected to grow at a CAGR of 33.5% during the forecast period. This is majorly due to the growing awareness of the transformative potential of AIoT solutions, and inclusivity also play key roles in sustaining market growth and demand. 
• The Argentina Artificial Intelligence plus Internet of Things Aiot market had a market share of USD 237.01million in 2023 and is projected to grow at a CAGR of 33.8% during the forecast period. This is due to the increased invest in technological advancements. 
• The Colombia Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.7% during the forecast period with a market size of USD 125.56 million in 2023.
• The Peru Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 33.1%during the forecast period with a market size of USD 115.68 million in 2023.
• The Chile Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 33.2% during the forecast period with a market size of USD 101.57 million in 2023.
• The Rest of Latin America Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.0% during the forecast period with a market size of USD 227.13 million in 2023.

Middle East and Africa Artificial Intelligence Plus Internet of Things AIOT

According to Cognitive Market Research, the global Artificial Intelligence Plus Internet Of Things Aiot market size was estimated at USD 28215.2 Million out of which the Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 564.30 million in 2023 and will grow at a compound annual growth rate (CAGR) of 33.2% from 2023 to 2030. The regional analysis reveals a landscape where countries like the United Arab Emirates and South Africa are progressively adopting AIoT solutions to address unique challenges. In this dynamic market, the segment gaining prominence is energy consumption management, reflecting the region's focus on optimizing resource utilization. Despite a modest market share, the Middle East and Africa showcase a growing appetite for AIoT technologies, driven by factors such as digital transformation initiatives and evolving industrial landscapes. As the region continues to embrace intelligent solutions, the Middle East and Africa present promising opportunities for AIoT integration, contributing to the region's technological advancement and digital evolution.

• According to Cognitive Market Research, the GCC Countries Artificial Intelligence Plus Internet Of Things Aiot market size was valued at USD 241.52 million in 2023 and is projected to grow at a CAGR of 34.0% during the forecast period. This is majorly due to the growing appetite for IoT technologies, and inclusivity also play key roles in sustaining market growth and demand. 
• The South Africa Artificial Intelligence plus Internet of Things Aiot market had a market share of USD 89.16 million in 2023 and is projected to grow at a CAGR of 34.2% during the forecast period. This is due to the increased digital transformation initiatives and evolving industrial landscapes. 
• The Egypt Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 33.5% during the forecast period with a market size of USD 59.25 million in 2023.
• The Turkey Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.7% during the forecast period with a market size of USD 48.53 million in 2023.
• The Nigeria Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.3% during the forecast period with a market size of USD 59.25 million in 2023.
• The Rest of MEA Artificial Intelligence plus Internet of Things Aiot market is projected to witness growth at a CAGR of 32.2%during the forecast period with a market size of USD 66.59 million in 2023.

Artificial Intelligence Plus Internet of Things AIOT Market Analysis

Artificial Intelligence Plus Internet Of Things Aiot market Deployment Segment Analysis

According to Cognitive Market Research, cloud-based solutions emerge as the dominant category. Cloud-based AIoT solutions offer organizations the flexibility, scalability, and computational power necessary for processing and analysing vast amounts of data generated by IoT devices. The cloud infrastructure enables seamless integration of AI algorithms with IoT ecosystems, facilitating centralized management, real-time analytics, and efficient data storage. The dominance of cloud-based solutions underscores the importance of a centralized, accessible platform to harness the full potential of AIoT technologies across various industries, contributing to enhanced decision-making and operational efficiency.

The fastest-growing category is Edge AIoT solutions. Edge computing addresses the need for localized data processing and analysis, reducing latency and enhancing real-time decision-making directly at the source of data generation. Edge AIoT solutions are gaining momentum as industries seek to overcome challenges related to bandwidth, security, and response times. By deploying AI algorithms at the edge, closer to IoT devices, organizations can achieve faster processing, reduced reliance on cloud resources, and improved overall system efficiency. The rapid growth of Edge AIoT solutions signifies a shift towards distributed computing models, catering to applications that require low latency and high responsiveness.

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 Artificial Intelligence Plus Internet of Things AIOT Industry. Request a Free Sample PDF!

Artificial Intelligence Plus Internet Of Things Aiot market Application Segment Analysis

According to Cognitive Market Research, video surveillance emerges as the dominant category. Video surveillance leverages the combined power of AI and IoT to enhance security measures, providing real-time monitoring, threat detection, and automated responses. AI-driven video analytics, integrated with IoT devices, enable advanced features such as facial recognition, anomaly detection, and predictive analysis. The dominance of video surveillance in AIoT applications reflects the critical role it plays in safeguarding physical spaces, assets, and individuals, making it a foundational component for smart cities, industries, and enterprises invested in comprehensive security solutions.

The fastest-growing category is predictive maintenance. The integration of AI algorithms with IoT devices facilitates the monitoring of equipment and machinery in real-time, enabling proactive maintenance based on predictive analytics. This approach minimizes downtime, reduces maintenance costs, and extends the lifespan of assets. Predictive maintenance in AIoT is gaining rapid traction across industries as organizations recognize its potential to optimize operational efficiency and prevent unplanned disruptions. The accelerated adoption of predictive maintenance signifies a strategic shift towards data-driven decision-making and smart resource management within the AIoT landscape.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Artificial Intelligence Plus Internet of Things AIOT Industry Segment Analysis

According to Cognitive Market Research, the healthcare industry emerges as the dominant category in terms of integration. The healthcare sector extensively utilizes AIoT applications to enhance patient care, optimize operational efficiency, and facilitate remote monitoring. Connected medical devices, wearables, and AI-powered analytics contribute to the creation of smart healthcare ecosystems. The dominance of healthcare in AIoT underscores the transformative impact on medical practices, enabling real-time data analysis, personalized treatment plans, and improved overall patient outcomes.

Manufacturing stands out as the fastest-growing category, driving innovation and efficiency through seamless integration of AI and IoT technologies. The manufacturing industry leverages AIoT for predictive maintenance, quality control, supply chain optimization, and smart production processes. The real-time insights derived from AIoT applications in manufacturing lead to reduced downtime, increased productivity, and cost savings. The rapid growth of manufacturing in AIoT signifies a strategic shift towards Industry 4.0, where interconnected devices and intelligent systems play a pivotal role in shaping the future of smart and efficient manufacturing processes.

• Healthcare
• Manufacturing
• Retail
• Agriculture
• Logistics
• BFSI
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion