Global Artificial Intelligence of Things (AIoT) Market, valued at approximately USD 35.65 billion in 2023, is poised for substantial growth with a forecasted compound annual growth rate (CAGR) of 32.4% from 2024 to 2032. Artificial Intelligence of Things (AIoT) is a transformative technology that merges artificial intelligence (AI) with the Internet of Things (IoT), facilitating data collection, learning, and planning capabilities in machines. This convergence has led to widespread applications across diverse domains, including transportation, smart homes, manufacturing, and healthcare, thereby modernizing industries and enhancing individuals' quality of life.
The increasing adoption of IoT devices, enhancements in computing power, advancements in AI algorithms, and the demand for efficient operations and data-driven insights have collectively fueled the growing demand for AIoT solutions. Sectors such as agriculture, smart homes, healthcare, manufacturing, and transportation are actively leveraging AIoT to boost production, improve consumer experiences, reduce costs, and gain a competitive edge. For instance, Amazon Go stores revolutionized retail with AIoT by integrating IoT devices that automate transactions and inventory management, thus significantly enhancing the shopping experience. The development of sustainable smart cities presents a significant market opportunity for the AIoT market, as AIoT solutions facilitate process automation, intelligent decision-making, and increased efficiency in energy and water management. However, the integration of AI and IoT devices raises significant security and privacy concerns. The vast amounts of data collected and analyzed by AIoT systems, including personal and sensitive information, make them vulnerable to cyberattacks. Ensuring data privacy and protecting AIoT networks from cyber threats are critical challenges that could impede market growth.
The key regions considered for the Global Artificial Intelligence of Things (AIoT) Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Artificial Intelligence of Things (AIoT) Market in terms of revenue. The market growth in the region is being attributed to factors including the widespread adoption of IoT across various sectors. The region's rapid deployment of sensors and IoT devices to enhance operational efficiency has contributed to its leading market share. Whereas, the market in the Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by the large population, widespread adoption of internet and mobile technologies, and thriving manufacturing sector are key drivers of AIoT demand.
Major market players included in this report are:
BOSCH (Germany)
Advantech Co., Ltd. (Taiwan)
Nvidia Corporation (U.S.)
CMS Info Systems (India)
Amazon Web Services (U.S.)
Microsoft Corporation (U.S.)
Inventec Corporation (Taiwan)
Intel Corporation (U.S.)
Qualcomm (U.S.)
ARM (U.K.)
PTC (U.S.)
Google LLC
IBM Corporation
Samsung Electronics Co., Ltd.
Huawei Technologies Co., Ltd.
Cisco Systems, Inc.
The detailed segments and sub-segment of the market are explained below:
By Deployment:
Cloud-based
Edge AIoT
By Application:
Video Surveillance
Robust Asset Management
Inventory Management
Energy Consumption Management
Predictive Maintenance
Real-Time Machinery Condition Monitoring
Supply Chain Management
By Industry:
Healthcare
Automotive & Transportation
Retail
Agriculture
Manufacturing
Logistics
BFSI
Others (Oil & Gas)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
