Artificial Intelligence Of Things (AIoT) Platforms Market Poised to Hit $29.5 Billion by 2029 with Accelerating Growth Trends

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Artificial Intelligence Of Things (AIoT) Platforms Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for Artificial Intelligence of Things (AIoT) platforms has witnessed significant growth. Predictions suggest an increase in the market size from $6.2 billion in 2024 up to $8.7 billion in 2025, displaying a compound annual growth rate (CAGR) of 40.3%. This impressive growth during the historical period can be ascribed to factors such as increased government investments and initiatives aimed at promoting AIoT platform developments, heightened use of AIoT platforms for monitoring and analyzing data from connected devices, development of industry-specific platforms by various firms, implementation of AIoT in areas like supply chain management, quality checking, and energy efficiency, as well as growing demand for intelligent devices.

How Will the Artificial Intelligence Of Things (AIoT) Platforms Market Size Evolve and Grow by 2029?
Expectations for the market size of the artificial intelligence of things (AIoT) platforms are set for substantial growth in the coming years, with projections predicting a rise to $29.5 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 35.7%. The predicted period of growth can be tied to an increase in government expenditure and initiatives focused on AIoT platform development, advancements in edge computing, the surge in 5G connectivity, improvements in customer experience, as well as escalating security concerns. Significant trends for the future include the integration of solutions based on AI in IoT projects, strategic alliances and collaborations, product development, spreading across various sectors, and technologic advances.

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What Drivers Are Propelling the Growth of Artificial Intelligence Of Things (AIoT) Platforms Market Forward?
The growing preference for smart devices is anticipated to stimulate the expansion of the AIoT platform market in the future. Smart devices, which are typically connected to other devices or networks through various wireless communications such as Bluetooth, Zigbee, Wi-Fi, or 5G, can function interactively and autonomously to a certain extent. AIoT platforms strengthen the capabilities of these smart devices by deploying artificial intelligence (AI) to process and act upon the data generated by the devices. For example, in March 2024, the Smart Meter Statistics in Great Britain: Quarterly Report to end December 2023, available on the official UK government website, disclosed that as of the end of 2023, 61 percent of operational meters were classified as smart and advanced meters (including smart meters operating in traditional mode). This represented a 6-percentage point escalation compared to the end of 2022. Hence, the increasing demand for smart devices is propelling the AIoT platform market's growth.

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Which Emerging Trends Are Transforming the Artificial Intelligence Of Things (AIoT) Platforms Market in 2025?
Top players in the AIoT Platforms market are focussing on innovative advancements like the AIoT Platform Stack to retain their market dominance. The AIoT platform stack encompasses a variety of hardware, software, and tools making it possible for developers to create and deploy AI applications specifically for the Internet of Things (IoT). To illustrate, MediaTek Inc., a semiconductor producing company located in Taiwan, launched the Genio Platform for AIoT appliances in May 2022. This comprehensive platform stack is devised to facilitate manufacturers in introducing inventive smart gadgets to the market, which range from high-end to entry-level. Genio is made up of power-efficient chipsets, a flexible AIoT SDK for software development, along with a developers portal packed with resources and tools.

What Are the Key Segments in the Artificial Intelligence Of Things (AIoT) Platforms Market?
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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Who Are the Key Players Shaping the Artificial Intelligence Of Things (AIoT) Platforms Market's Competitive Landscape?
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

What Geographic Markets Are Powering Growth 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.

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