In 2022, The Artificial Intelligence of Things Market Size was estimated to be worth USD 27.92 billion. With a projected CAGR of 32.4% over the forecast period, the market is expected to increase from USD 35.65 billion in 2023 to USD 253.86 billion by 2030.
The Internet of Things (IoT) and artificial intelligence (AI) are combined to create artificial intelligence of things. This technology combines the ability to connect devices to the internet for data collection with the ability to give machines the ability to learn, think, and plan. Manufacturing, smart homes, transportation, and healthcare are just a few of the industries that use applications for the Internet of Things. It improves personalization, and automation, modernizes industries, and improves the standard of living for people.
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Information about the report:
- Forecast Timeframe: 2023-2030
- The starting year is 2022
- Market Size in 2022: USD 27.92 billion
- The market size in 2030 will be USD 253.86 billion
- CAGR: 32.4%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Artificial Intelligence of Things Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The size of the Artificial Intelligence of Things Market is the total amount of money service providers make when selling their products to customers. Artificial Intelligence of Things Market share is the percentage of the market that is under the control of one or more providers. The term Artificial Intelligence of Things Market Segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the various sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Artificial Intelligence of Things Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Component Analysis,
The market is split into cloud-based and edge AIoT according to deployment. With the largest market share, cloud-based solutions dominated the industry. A new era of digital automation in industrial applications has arrived thanks to cloud computing and AIoT. The cost-effectiveness of cloud-based deployment may be increased because the cloud provider manages data processing and storage, saving businesses money on hardware and software expenses.
By Application Analysis,
Video surveillance, robust asset management, inventory management, energy consumption management, predictive maintenance, real-time machinery conditioning monitoring, and supply chain management are the different applications that make up the market. In 2022, the market for video surveillance was dominated. Video surveillance is one of the major applications in this market, which is expanding quickly. By identifying and following suspicious activity, AI-powered video surveillance systems support crime detection and criminal apprehending by enhancing security.
By Enterprise Type Analysis,
Additionally, the development of artificial intelligence in the Internet of Things has enormous potential for improving remote patient monitoring, disease early detection, and customized treatment planning. For accurate diagnoses, successful interventions, and ongoing patient care, medical professionals can benefit from the insights provided by artificial intelligence (AI) algorithms that analyze data from wearables, medical sensors, and electronic medical records.
By Industry Analysis,
The market is divided into segments based on industry: healthcare, auto & transportation, manufacturing, retail, agriculture, logistics, BFSI, and others. Due to the growing number of AIoT applications in the sector, manufacturing currently holds the largest market share. AIoT is used for process improvement, proactive maintenance, and quality assurance. It can track the flow of products and materials through the supply chain in manufacturing, enabling more effective planning and coordination.
List of Key Companies Profiled:
By introducing solutions tailored to particular industries, market leaders pursue global expansion. These leaders primarily engage in acquisitions and strategic alliances to establish a solid foothold. Additionally, businesses plan to introduce novel products to draw in and keep their clientele. As a result of ongoing investments in product R&D, the artificial intelligence of things market is also flourishing. Therefore, by implementing such corporate strategies, organizations maintain their competitiveness in the market.
Key Companies Proposed:
“BOSCH (Germany) Advantech Co., Ltd. (Taiwan), Nvidia Corporation (U.S.), CMS Info Systems (India), Amazon Web Services (U.S.), Microsoft (U.S.)”
By Region,
The five major geographic divisions of the world market are as follows: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. Countries make up another division of them.
Due to the region's growing IoT adoption across a variety of industries, North America currently holds the majority of the market share for artificial intelligence in things. The deployment of sensors and IoT devices across a variety of industries to collect data and improve operational efficiency is accelerating the growth of the Internet of Things (IoT).
The study report provides a thorough analysis of the size of the “Artificial Intelligence of Things Market” globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Artificial Intelligence of Things Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Artificial Intelligence of Things Market industry will be able to gain the upper hand by using the study as a valuable resource.
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