Artificial Intelligence Of Things AIoT Platforms Market Poised for 35.7 % Growth, Set to Hit 41.54 Billion by 2029

"How Is the Artificial Intelligence Of Things AIoT Platforms Market Projected to Grow, and What Is Its Market Size?
The artificial intelligence of things (AIoT) platforms market has experienced significant growth over the years. It is set to rise from $6.2 billion in 2024 to $8.7 billion in 2025, at a CAGR of 40.3%. The past expansion can be attributed to increased government investments and initiatives for AIoT platform development, growing adoption of AIoT platforms for monitoring and analyzing connected device data, development of industry-specific platforms by organizations, the integration of AIoT in supply chain management, quality control, and energy optimization, as well as the rising demand for smart devices.

The AIoT platforms market is set to grow to $29.5 billion by 2029, with a CAGR of 35.7%. This growth is fueled by increased government spending on AIoT platform development, advancements in edge computing, and rising 5G connectivity. Key trends include the integration of AI-based solutions in IoT projects, strategic partnerships, and new product developments.

What Are the Key Drivers Behind the Growth of the Artificial Intelligence Of Things AIoT Platforms Market?
The growing demand for smart devices is expected to drive the AIoT platforms market. Smart devices are electronics connected to other devices or networks through wireless protocols like Bluetooth, Zigbee, Wi-Fi, or 5G and can operate interactively and autonomously. AIoT platforms enhance smart devices' capabilities by applying artificial intelligence (AI) to analyze and respond to data from these devices. For instance, in March 2024, the GOV.UK Smart Meter Statistics reported that by the end of 2023, 61% of operating meters in Great Britain were classified as smart or advanced meters, marking a 6% increase compared to 2022. Therefore, the demand for smart devices is driving AIoT platform market growth.

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Who Are the Major Industry Players Fueling Artificial Intelligence Of Things AIoT Platforms Market Expansion?
Major companies operating in the artificial intelligence of things (AIoT) platforms market report are Alphabet Inc., Microsoft Corporation, Huawei Technologies Co. Ltd., Tencent Cloud, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Xiaomi Technology Co. Ltd., Robert Bosch GmbH, SAP SE, Fujitsu Ltd., ABB Ltd., Hewlett Packard Enterprise Company, Sharp Corporation, NXP Semiconductors N.V., SAS Institute Inc., PTC Inc., Axiomtek Co. Ltd., Litmus Automation Inc., Autoplant Systems India Private Limited

Which Key Developments Are Influencing the Artificial Intelligence Of Things AIoT Platforms Market?
Leading companies in the AIoT Platforms market are innovating technologies like the AIoT Platform Stack to maintain their market presence. The AIoT platform stack consists of hardware, software, and tools that assist developers in creating and deploying AI applications for the Internet of Things (IoT). For instance, in May 2022, MediaTek Inc., a semiconductor manufacturer based in Taiwan, launched the Genio Platform for AIoT devices. This platform stack is designed to simplify the development of smart devices, from high-end to entry-level, and includes efficient chipsets, an open AIoT SDK for software development, and a developer portal with resources and tools.

How Is the Segmentation of the Artificial Intelligence Of Things AIoT Platforms Market Defined?
The artificial intelligence of things (AIoT) platforms market covered in this report is segmented -

1) By Component: Software Or Platform, Services, Professional, Managed
2) By Deployment: On-premises, Cloud
3) By Industry Vertical: Manufacturing, Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Energy And Utilities, Transportation And Logistics, Other Industry Verticals

Subsegments:
1) By Software Or Platform: AI Algorithms, IoT Platforms, Data Analytics Software, Edge Computing Software
2) By Services: Consulting Services, Integration Services, Maintenance And Support Services
3) By Professional: System Design And Development, Implementation Services, Training And Education Services
4) By Managed: Managed Security Services, Managed Data Services, Managed Network Services

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What Is the Leading Region in the Artificial Intelligence Of Things AIoT Platforms Market?
North America was the largest region in the AIoT platforms market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence of things (aiot) platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Artificial Intelligence Of Things AIoT Platforms Global Market Report?

- Market Size Analysis: Analyze the Artificial Intelligence Of Things AIoT Platforms Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Artificial Intelligence Of Things AIoT Platforms Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Artificial Intelligence Of Things AIoT Platforms Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Artificial Intelligence Of Things AIoT Platforms Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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