AIoT Platforms Market Size, Share, Growth Outlook, Driving Factors, Future Demand, Key Segmentation and Forecast to 2028

AIoT Platforms Market by Offering (Solutions (Device Management, Application Management, Connectivity Management) and Services), Vertical (Manufacturing, Healthcare, Retail) and Region - Global Forecast to 2028.
The global AIoT platforms market [https://www.marketsandmarkets.com/Market-Reports/aiot-platform-market-4544896.html?utm_campaign=aiotplatformmarket&utm_source=abnewswire.com&utm_medium=paidpr] is projected to expand from USD 5.0 billion in 2023 to USD 24.9 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 37.7% over the forecast period. This growth is anticipated to be driven by ongoing digital transformation across multiple industries and the widespread adoption of smart devices and IoT technology.

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By offering, solutions are estimated to account for the largest market share in 2023.

The demand for AIoT platforms solutions is increasing globally, due to the need for improved risk management capacity, optimization, decreased downtime, intelligent real-time monitoring of processes, and enhanced data management and analysis. Several leading platform providers, such as IBM, AWS, Google, Microsoft, and GE, offer IoT platforms integrated with AI capabilities, such as ML-based analytics. Most of the enterprises are deploying AIoT platforms because of their ability to churn insights quickly from bulk quantities of data generated from IoT devices.

Managed services are expected to register the fastest growth rate during the forecast period.

Managed services are considered crucial, as they are directly related to customer experience. These services help sustain their positions in the market. Nowadays, it has become difficult for companies to focus on core business processes and support various other functions, which, in turn, increases the significance of managed services. These services offer technical skills that are required to maintain and update software in the AIoT ecosystem. Integrated facility management, consultancy, round-the-clock help desk, finance, and accounts are some of the upcoming managed services required by operators. This segment is mainly driven by the increasing adoption of outsourced managed services in the AIoT market.

Asia Pacific is likely to emerge as the fastest-growing market during the forecast period

AIoT technology use is currently increasing in the Asia Pacific area. China, Japan, and India are the major countries contributing to the growth of the market in the region. A growing need for AIoT applications has been caused by the region's vast population, strong adoption of mobile and internet technologies, and thriving manufacturing sector. In Asia-Pacific, industries like smart cities, healthcare, transportation, agriculture, and manufacturing are seeing a rise in adoption of AIoT. For instance, some Asian nations are launching projects to create smart cities that use AIoT technologies to enhance livability.

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Unique Features in the AIoT Platforms Market

AIoT platforms are uniquely designed to blend artificial intelligence (AI) with Internet of Things (IoT) capabilities, creating intelligent systems that can analyze vast amounts of data from connected devices in real time.

One of the standout features of AIoT platforms is the ability to process and analyze data in real time. This functionality is crucial for applications that require immediate insights, such as predictive maintenance, anomaly detection, and supply chain optimization. By analyzing data as it is generated, AIoT platforms empower organizations to make rapid, informed decisions and improve operational outcomes.

AIoT platforms often incorporate edge computing to perform data processing closer to the source of data generation, minimizing latency and reducing reliance on cloud resources. This feature is particularly beneficial for time-sensitive applications, like autonomous vehicles and industrial automation, where rapid response times are critical.

With the integration of AI, AIoT platforms can implement sophisticated security measures, such as anomaly detection, threat prediction, and automated responses to potential breaches. These platforms often include strong encryption protocols and access controls to protect sensitive data generated by IoT devices, addressing growing concerns around cybersecurity and privacy in connected environments.

AIoT platforms are built to scale, accommodating a growing number of connected devices and data sources across various industries. This scalability allows businesses to expand their AIoT deployments as needs evolve, whether in smart cities, industrial automation, healthcare, or retail.

Major Highlights of the AIoT Platforms Market

The AIoT platforms market is experiencing substantial growth, driven by increasing demand for intelligent and connected systems across industries. As organizations seek to improve efficiency and decision-making, AIoT platforms offer a powerful solution by integrating AI capabilities with IoT infrastructures.

AIoT platforms are at the core of digital transformation initiatives, enabling smart automation and improved data-driven decision-making. By automating processes and analyzing data in real time, AIoT platforms help organizations reduce operational costs and improve productivity.

A major highlight of the AIoT platforms market is the focus on real-time data processing and predictive analytics. AIoT solutions allow businesses to monitor operations continuously and predict potential issues before they occur, such as equipment malfunctions or supply chain disruptions.

With the proliferation of connected devices, cybersecurity has become a top priority in the AIoT platforms market. Platforms now include advanced security features, such as AI-driven threat detection and automated responses, to protect against cyber risks.

Edge computing has emerged as a crucial component of AIoT platforms, enabling faster data processing and reducing latency by bringing computation closer to where data is generated. This trend is driving the adoption of AIoT solutions in industries requiring real-time processing, such as autonomous vehicles, industrial automation, and healthcare.

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Top Companies in the AIoT Platforms Market

The major vendors covered in the AIoT platforms market include IBM (US), Sharp Global (Japan), Google (US), AWS (US), Microsoft (US), Oracle (US), HPE (US), Cisco (US), Intel (US), Tencent Cloud (China), NXP (Netherlands), SAS (US), Hitachi (Japan), SAP (Germany), AxiomTek (Taiwan), Autoplant Systems India Pvt. Ltd. (India), Williot (Israel), Cognosos (US), Relayr (US), Terminus Group (China), Semifive (South Korea), Uptake (Chicago), Falkonry (US), and Sightmachine (US).

IBM (US) is one of the leading vendors that provide AIoT platforms solutions. The company has a wide product portfolio for AIoT platforms and and related solutions. The R&D investments of the company are applied generally to all product areas, with specific areas of focus being identified regularly. The company's recent areas of increased focus include smart infrstructure solutions, AI and hybrid cloud capalities along with IoT. IBM's business offerings are focused on helping businesses modernize and transform their operations using innovative technology solutions. The company's AI capabilities, including IBM Watson, are vital to this strategy, helping businesses integrate AI into their operations to improve efficiency and drive innovation.

Sharp Global (Japan) is a notable player in the AIoT (Artificial Intelligence of Things) platforms market, combining its expertise in AI and IoT to provide innovative solutions. Sharp Global's AIoT platforms enable seamless integration of intelligent devices, real-time data analytics, and advanced automation. These solutions enhance operational efficiency, optimize resource utilization, and improve decision-making across various industries, positioning Sharp Global as a leader in the AIoT market.

Google (US) specializes in Internet-related services and products, which include online advertising technologies, cloud computing, software, and hardware. Its core products and platform include Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube. Each product has over one billion active global users every month. Google's product innovation has made its services widely used, making it one of the most recognized brands in the world. Google offers AIoT platforms designed to help businesses and developers build and manage connected devices at scale. Google Cloud IoT provides a suite of services and tools to connect, manage, and analyze data from IoT devices.

AxiomTek (Taiwan) is a key player in the AIoT (Artificial Intelligence of Things) platforms market, offering advanced solutions that integrate AI and IoT technologies. Their AIoT platforms provide robust capabilities for real-time data analytics, intelligent device management, and automation. These solutions help industries enhance operational efficiency, optimize processes, and drive innovation, making AxiomTek a prominent leader in the AIoT market.

SAP (Germany) is a major player in the AIoT (Artificial Intelligence of Things) platforms market, offering integrated solutions that combine AI and IoT technologies. Key offerings include the SAP Leonardo platform, which enables real-time data processing, advanced analytics, and machine learning capabilities. These solutions help businesses improve operational efficiency, enhance decision-making, and drive digital transformation, positioning SAP as a leader in the AIoT market.

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