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Global Artificial Intelligence (AI) in IoT Market Comprehensive Study: Forecasted Market Size And Growth Rate | Amazon Inc., Google LLC, Microsoft Corporation, Hitachi Ltd., General Electric (GE), Intel Corporation, Accentur*e PLC
Artificial Intelligence (AI) in IoT Market Characteristics
The Business Research Company offers in-depth market insights through Artificial Intelligence (AI) in IoT Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The artificial intelligence (AI) in iot market size has grown exponentially in recent years. It will grow 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.
The artificial intelligence (AI) in iot market size is expected to see exponential growth in the next few years. It will grow to $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. Major trends in the forecast period include demand for ai in iot in emerging markets.
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Market Segmentation:
The artificial intelligence (ai) in iot market covered in this report is segmented -
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)
Major Driver - 5G Network Expansion Fuels Accelerated Growth of Artificial Intelligence (AI) in the Internet of Things (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. For instance, in June 2022, according to reports published by 5G Americas., a US-based telecommunications service company, global 5G connections reached 701 million in Q1 2022, up 17% from Q4 2021, and are expected to reach 4.8 billion by the end of 2026. Therefore, the 5G network expansion is driving the growth of artificial intelligence (AI) in IoT market.
Competitive Landscape:
Major companies operating in the artificial intelligence (AI) in iot market report are Amazon Inc., Google LLC, Microsoft Corporation, Hitachi Ltd., General Electric (GE), Intel Corporation, Accentur*e 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.
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Top Trend - Focus On Introduction Of Innovative Solutions In The Market
Major companies operating in the artificial intelligence (AI) in IoT market are focusing on introducing innovative solutions to increase their profitability in the market. For instance, in October 2022, Checkpoint Software Technologies Ltd., an Israel-based software company, introduced Check Point Quantum Titan, a new release of the Check Point Quantum cybersecurity platform, designed to provide faster, AI-enabled network security and advanced threat prevention for on-premise, cloud, and IoT applications. It includes AI-enabled network security, advanced threat prevention, IoT security and ultra-scalable protections, that help to prevent cyberattacks.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Artificial Intelligence (AI) in IoT Market Characteristics
3. Artificial Intelligence (AI) in IoT Market Trends And Strategies
4. Artificial Intelligence (AI) in IoT Market - Macro Economic Scenario
5. Artificial Intelligence (AI) in IoT Market Size And Growth
…..
27. Artificial Intelligence (AI) in IoT Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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