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The AIoT Market Projected to Reach USD 257.23 Billion by 2030, Fueled by Growing IoT Ecosystem and Enhanced Edge Computing, According to Research by SNS Insider




Pune, Nov. 03, 2023 (GLOBE NEWSWIRE)

“The Artificial Intelligence of Things (AIoT) Market is expected to experience a compound annual growth rate (CAGR) of 31.2% between 2023 and 2030, increasing from its 2022 value of USD 29.3 billion to reach USD 257.23 billion by 2030, as reported by SNS Insider.”

Market Overview

The concept of Artificial Intelligence of Things (AIoT) represents the convergence of two breakthrough technologies, Artificial Intelligence (AI) and the Internet of Things (IoT). AIoT has gained significant traction in recent years, reshaping the landscape of technology-driven innovation. This transformative fusion not only holds immense potential but also offers an array of growth drivers that fuel its market expansion.

Market Analysis

Connectivity management is the linchpin of the AIoT ecosystem. With the proliferation of IoT devices, the need for efficient data transmission and processing has become paramount. AIoT harnesses the power of AI to manage the vast network of IoT devices, optimizing data transfer, reducing latency, and enhancing security. The seamless connectivity offered by AIoT not only bolsters efficiency but also elevates user experience, making it a significant driver for the artificial intelligence of things (AIoT) market’s growth.

The manufacturing sector has experienced a remarkable transformation through AIoT integration. AI-powered algorithms enhance predictive maintenance, ensuring machinery operates at its peak efficiency and reducing downtime. This results in cost savings and increased productivity.

The healthcare sector is experiencing a revolution through AIoT applications. The integration of AI and IoT in healthcare has given rise to smart medical devices, remote patient monitoring, and predictive analytics for disease prevention.

Key Company Profiles Listed in this Report are:

  • Intel
  • AWS
  • NXP
  • Google
  • Cisco
  • IBM
  • Tencent Cloud
  • Sharp Global
  • Oracle
  • Microsoft
  • HPE
  • SAS
  • Uptake
  • Williot
  • SAP
  • AxiomTek
  • Cognosos
  • Terminus Group
  • Falkonry
  • Hitachi
  • Sightmachine
  • Autoplant Systems India Pvt. Ltd.
  • Semifive

Artificial Intelligence of Things (AIoT) Market Report Scope:

Report Attributes Details

  • Market Size in 2022: US$ 29.3 Bn
  • Market Size by 2030: US$ 257.23 Bn
  • CAGR: CAGR of 31.2% From 2023 to 2030
  • Base Year: 2022
  • Forecast Period: 2023-2030
  • Historical Data: 2019-2021

Market Dynamics Analysis

The dynamics of the artificial intelligence of things (AIoT) market are characterized by a complex interplay of drivers, restraints, challenges, and potential threats. On the driver’s side, the relentless pursuit of automation and efficiency in various industries is a major force propelling the growth of AIoT.

Artificial Intelligence of Things (AIoT) Market Segmentation

By Deployment

  • Real-Time Machinery Condition Monitoring
  • Supply Chain Management
  • Predictive Maintenance
  • Inventory Management
  • Energy Consumption Management
  • Robust Asset Management
  • Video Surveillance

Impact of Recession on Artificial Intelligence of Things (AIoT) Market Growth

The artificial intelligence of things (AIoT) market has exhibited resilience during times of economic uncertainty, making it a compelling investment even in the face of a recession.

Conclusion

Access Complete Report Details: Artificial Intelligence of Things (AIoT) Market Report


Leah Sirama
Leah Sirama
Leah Sirama, a lifelong enthusiast of Artificial Intelligence, has been exploring technology and the digital realm since childhood. Known for his creative thinking, he's dedicated to improving AI experiences for all, making him a respected figure in the field. His passion, curiosity, and creativity drive advancements in the AI world.
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