Global Artificial Intelligence Of Things (AIoT) Market to Reach $41.54 Billion by 2029, Growing at 33% CAGR

What industry-specific factors are fueling the growth of the artificial intelligence of things (aiot) market?
The AIoT market's growth is anticipated to surge due to the amplified adoption of cloud technology. The cloud, being a collective of distributed servers, accommodates infrastructure and software which can be accessed over the internet. AIoT built on cloud utilizes cloud computing platforms to manage and discern data acquired from IoT devices. This means that the cloud is employed to store and process data from IoT devices, while AI is exploited to analyze and make decisions based on this data. As an example, in February 2022, Canalys, a technology market analyst firm based in Singapore, recorded a 35% jump in global spending on cloud infrastructure services, reaching US$191.7 billion from a previous US$142.0 billion over the preceding two years. Additionally, in August 2023, AAG IT Services & Cyber Security, a UK-based IT support and digital transformation service provider, reported that 60% of corporate data was cloud-stored in 2022 and predicted that by 2025, the global data stored on the cloud would touch 200 zettabytes. Consequently, the mounting adoption of cloud technology is steering the growth of the AIoT market. The artificial intelligence of things (AIoT) market forecasts a growth spurt due to an increase in the usage of Internet of Things (IoT) devices. Often referred to as the IoT, it involves a network of interconnected objects communicating with each other and the cloud. AIoT propels IoT devices by enabling real-time analysis and decision-making at the device level. It merges the connectivity capabilities of IoT with insights driven from AI, making it apt to address specific challenges with distributed, intelligent systems. For instance, in May 2023, as per IoT Analytics GmbH, a comprehensive data analysis platform for the Internet of Things, artificial intelligence, cloud computing, and Industry 4.0 based in Germany, estimated a 16% rise in the number of interconnected IoT devices worldwide, projecting 16.7 billion operational endpoints by 2023. Therefore, the escalating usage of IoT devices is fueling the growth of the artificial intelligence of things (AIoT) market.

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What Is the projected market size and growth rate for the artificial intelligence of things (aiot) market?
In recent times, there has been a significant expansion in the market size of the artificial intelligence of things (AIoT). Projections indicate an increase from $9.98 billion in 2024 to $13.26 billion in 2025, marking a compound annual growth rate (CAGR) of 32.9%. This remarkable growth in the previous years can be traced back to the widespread adoption of IoT, advancements in AI technology, the surge in data production, and security concerns related to AIoT.

The artificial intelligence of things (AIoT) market is projected to witness a significant surge in the upcoming years, expanding to a valuation of $41.54 billion in 2029 with a compound annual growth rate (CAGR) of 33.0%. The expected growth during this forecast period is primarily due to factors like the expansion of the 5G network, the rise of edge computing, and the incorporation of AIoT in healthcare and smart cities. Some prevalent trends projected to shape this market during the forecast period are AIoT analytics, the use of AIoT in the retail sector, energy management, and transportation.

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What are the most significant trends transforming the artificial intelligence of things (aiot) market today?
Key players in the AIoT industry are focusing their efforts on enhancing the integration of AI and IoT, strengthening their computing power, and broadening their application scope across multiple sectors to reinforce their presence in the market. These advancements are aimed at harnessing AI and IoT's potential to develop more effective and smarter systems. For example, in January 2022, Origin Wireless Inc, a technology enterprise based in South Africa, and nami.AI, an AIoT firm located in Singapore, teamed up to launch a novel AIoT platform. This platform uses Wi-Fi access points to offer sensing abilities even to the smallest smart devices, enabling them to differentiate between humans, pets, robot vacuums, pets, and appliances.

What major market segments define the scope and growth of the artificial intelligence of things (aiot) market?
The artificial intelligence of things (AIoT) market covered in this report is segmented -

1) By Offering: Solutions, Services
2) By Deployment: On-Premises, Cloud
3) By Vertical: Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare, Energy And Utilities, Retail, Transportation And Logistics, Other Verticals

Subsegments:
1) By Solutions: AI Hardware, AI Software, Connectivity Solutions, Data Management Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training And Education Services

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Which region dominates the artificial intelligence of things (aiot) market?
North America was the largest region in the artificial intelligence of things (AIoT) market in 2024. The regions covered in artificial intelligence of things (AIoT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Which key market leaders are driving the artificial intelligence of things (aiot) industry growth?
Major companies operating in the artificial intelligence of things (aiot) market are Google LLC, Microsoft Corporation, Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., General Electric Co, Intel Corporation, International Business Machines Corporation, Tencent Cloud Service Pte., Cisco Systems Inc., Oracle Corporation, SAP SE, Fujitsu Ltd., ABB Ltd., The Hewlett Packard Enterprise Company, Nvidia Corporation, Sharp Corporation, NXP Semiconductors N.V., SAS AB, General Vision Inc., C3.ai Inc., DataRobot Inc., Echelon Corporation, Autoplant Systems India Pvt Ltd., Brighterion Inc., ITRex Group, Clarifai Inc., AIBrain Inc., Milesight Technology USA.

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

• Market Size Forecast: Examine the artificial intelligence of things (aiot) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence of things (aiot) market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence of things (aiot) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence of things (aiot) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence of things (aiot) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence of things (aiot) market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence of things (aiot) market.
• Competitive Landscape: Review strategic developments in the artificial intelligence of things (aiot) market, including expansions, agreements, and new product launches.

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