Artificial Intelligence in IoT Market to 2024 – Growing Steady at 26.0% CAGR and Projected to Reach US$ 16.2 Billion

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The Global Artificial Intelligence (AI) in IoT Market size to grow from US$ 5.1 Billion in 2019 to US$ 16.2 Billion by 2024, at a CAGR of 26.0% during 2019–2024. This report spread across 168 pages, profiling 20 companies and supported with 74 tables and 54 figures is now available in this research.

“The software solutions segment to grow at the highest growth rate during the forecast period”
Most of the key vendors in AI in IoT market offers software solutions for enhanced security and scalability. These software solutions are designed to meet interoperability challenges that arise due to varied heterogeneous devices and manage large volumes of data and its security and privacy. They help in mitigating interoperability issues that create flexibility and managing various business functions.

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“The Natural Language Processing (NLP) technology segment to grow at the highest growth rate during the forecast period”
Based on technologies, the AI in IoT market has been segmented into Machine Learning (ML) and deep learning, and NLP. The NLP technology segment is expected to grow at the highest growth rate during the forecast period,due to the growing demand for analyzing huge amounts of data generated by IoT devices. Moreover, NLP enables users to integrate not only voice understanding with devices and sensors, but also localization features, leading to creative translation.

“Among regions, Asia Pacific (APAC)to grow at the highest CAGR during the forecast period”
In the AI in IoT market by region, APAC is expected to grow at the highest growth rate during the forecast period. The growth in the number of AI in IoT vendors in major APAC countries, such as China and Japan, and innovative technological advancements are expected to drive the growth of the market in APAC.

Breakdown of primary participants’ profile:
• By Company: Tier I:15%, Tier II:42%, and Tier III:43%
• By Designation:C-Level:62%, Director Level:20%, and Others:18%
• By Region: North America: 40%,APAC: 30%,Europe: 20%, MEA: 5%, and Latin America: 5%

Report Highlights:
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the AI in IoT ecosystem

• To analyze strategic approaches, such as product launches, acquisitions, contracts, agreements, and partnerships, in the AI in IoT market

• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders

• To study the complete value chain of the AI in IoT market

• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the AI in IoT market

• To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

Competitive Landscape of Artificial Intelligence in IoT Market :
• Competitive Leadership Mapping
• Visionary Leaders
• Innovators
• Dynamic Differentiators
• Emerging Companies
• Strength of Product Portfolio
• Business Strategy Excellence

Most Popular Companies profiled in the Artificial Intelligence in IoT Market include are Google (US), Microsoft (US), IBM (US), AWS (US), Oracle (US), SAP (Germany), PTC (US), GE (US), Sales force (US), Hitachi (Japan), Uptake (US), SAS (US), Autoplant Systems Pvt Ltd. (India), Kairos (US), Softweb Solutions (US), Arundo (US), C3 IoT (US), Anagog (Israel), Imagimob (Sweden), and Thingstel (India).

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This release was published on openPR.