Artificial Intelligence Of Things (AIoT) Platforms Market Poised for 35.7 % Growth, Set to Hit $29.5 Billion by 2029

Which drivers are expected to have the greatest impact on the over the artificial intelligence of things (aiot) platforms market's growth?
The growth of the AIoT platforms market is predicted to be spurred by increasing demand for smart devices. These devices, which are mainly electronic, can connect to other devices or networks through various wireless protocols like Bluetooth, Zigbee, Wi-Fi, or 5G, and can function both interactively and autonomously to a certain extent. AIoT platforms aim to boost the effectiveness of these devices, using artificial intelligence (AI) to assess and respond to the data they generate. For example, the Smart Meter Statistics in Great Britain: Quarterly Report to end December 2023 from GOV.UK, a UK official website, revealed that by the close of 2023, 61 percent of operational meters were deemed smart and advanced meters, including those operating in traditional mode. This was a 6-percentage point increase from the end of 2022. Thus, the growing demand for smart devices is fueling the AIoT platform market's expansion.

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What is the future CAGR of the artificial intelligence of things (aiot) platforms market, and how will it impact industry expansion?
Over recent years, the market size for platforms utilizing the artificial intelligence of things (AIoT) has shown exponential growth. Forecasts indicate it will expand from $6.2 billion in 2024 to $8.7 billion in 2025, resulting in a compound annual growth rate (CAGR) of 40.3%. Several factors contributed to this significant growth during the historical period. These include increased governmental spending on and initiatives for aiot platform development, heightened use of AIoT platforms for monitoring and analyzing data from connected devices, the creation of platforms catered to diverse industry verticals by multiple organizations, use of aiot in management of supply chain, energy optimization and quality assurance, and a growing demand for smart devices.

The market size of Artificial Intelligence of Things (AIoT) platforms is projected to experience exceptional growth in the following years. It is predicted to expand to a substantial $29.5 billion by 2029, while sustaining a compound annual growth rate (CAGR) of 35.7%. The increase during the prediction period can be associated with factors such as higher government expenditure and efforts towards AIoT platform expansion, advancements in edge computing technology, the emergence of 5G connectivity, improvement in customer service, and elevated security issues. The forecast period will also see significant trends such as the incorporation of AI solutions in IoT initiatives, formation of strategic alliances and collaborations, introduction of new products, extending into different industries, as well as advancements in the technological realm.

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What trends are poised to drive the future success of the artificial intelligence of things (aiot) platforms market?
Leading corporations in the AIoT Platforms market are constantly creating progressive technologies like the AIoT Platform Stack to cement their place in the industry. The AIoT platform stack is an arsenal of hardware, software, and tools that equip developers to construct and roll out AI applications for the Internet of Things (IoT). For instance, in May 2022, MediaTek Inc., a semiconductor manufacturer based in Taiwan, unveiled the Genio Platform tailored for AIoT devices. This comprehensive platform stack is designed to simplify the process for manufacturers to introduce innovative smart devices to the market, ranging from premium to entry-level. The Genio suite boasts robust and efficient chipsets, an open platform AIoT SDK for software development, and a developer portal loaded with resources and tools.

Which key market segments comprise the artificial intelligence of things (aiot) platforms market and drive its revenue growth?
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 regions are at the forefront of artificial intelligence of things (aiot) platforms market expansion?
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.

Who are the leading players fueling growth in the artificial intelligence of things (aiot) platforms market?
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

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

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

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