The AI in IoT market size is estimated to grow from USD 6 Billion in 2020 to USD 34 Billion by 2027, growing at a CAGR of 28.1% during the forecast year from 2021 to 2027.
The “AI in IoT – Market Analysis, Trends, and Forecasts 2021-2027 ” Study has been added to MarketDigits Market Research offering. The study focus on both qualitative as well as quantitative side and follows Industry benchmark and NAICS standards to built coverage of players for final compilation of study. Some of the major and emerging players profiled are Amazon Web Services, International Business Machines Corporation, Autoplant Systems India Pvt. Ltd., SAP SE, Google LLC, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., General Electric, and Hitachi ID Systems.
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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “AI in IoT Market, By Component (Platform, Services, Software), End-User (Banking, Financial Services, and Insurance, IT and Telecom, Energy and Utilities, Healthcare, Manufacturing) and Geography – Global Forecast to 2026”. Early buyers will get 10% customization on study.
To Avail deep insights of AI in IoT Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
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The AI in IoT market size is estimated to grow from USD 6 Billion in 2020 to USD 34 Billion by 2027, growing at a CAGR of 28.1% during the forecast year from 2021 to 2027. The major factors expected to drive the market are the need to efficiently process huge volumes of real-time data being generated from IoT devices and reduce maintenance cost and downtime.
Key AI in IoT Market Players:
The major vendors in the global AI in IoT market include Google (US), Microsoft (US), IBM (US), AWS (US), Oracle (US), SAP (Germany), PTC (US), GE (US), Salesforce (US), Hitachi (Japan), Uptake (US), SAS (US), Autoplant Systems Pvt Ltd. (India), Kairos (US), Softweb Solutions (US), Arundo (US), C3 IoT (US), Anagog (Israel), Imagimob (Sweden), and Thingstel (India). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to further expand their presence in the global market.
In the AI in IoT market by component, the software solutions segment to grow at the highest CAGR during the forecast period
Most of the key vendors offer AI in IoT software solutions to customers. These software solutions are designed to meet interoperability challenges that arise due to varied heterogeneous devices, and manage large volumes of data and its security and privacy. They help in mitigating interoperability issues and create flexibility to effectively manage various business functions.
In the AI in IoT market by technology, the ML and deep learning technology segment to hold a larger market size during the forecast period
ML can become a robust analytical tool for vast volumes of data. The combination of ML and edge computing can filter most of the noise collected by IoT devices and leave the relevant data to be analyzed by edge and cloud analytic engines.
North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the global AI in IoT market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In APAC, the highest growth rate can be attributed to the heavy investments made by private and public sectors for enhancing their AI and IoT technologies, resulting in the increased demand for AI in IoT solutions for gaining customer insights in real time. North America is expected to be the leading region in terms of adopting and developing AI in IoT. The growing investments in AI and IoT technologies, increasing presence of AI in IoT vendors, and rising government spending on innovative technologies such as AI in IoT are expected to contribute to the market growth during the forecast period.
IBM is a significant player that delivers solutions in the AI in IoT market. The company offers the IBM Watson IoT platform that helps businesses harness real-time data for offering effective customer experiences. It is focusing on scaling its platforms, delivering productivity through automation, infusing AI into its offerings, and investing in cloud infrastructure. Moreover, it is focused on product innovations and allocates a high budget for R&D. The company’s R&D expenditure increased substantially in 2017 as compared to 2015. In 2017, it invested 7.3% of its annual revenue in R&D. In addition to this, the company has a vast partner ecosystem consisting of resellers, managed service providers, alliance partners, embedded system partners, and distributors who help in delivering efficient and cost-effective solutions to its global customers. Its wide-ranging proficiency across industries, strong global footprint, and the unique approach of combining technologies and services help clients achieve business outcomes.
Major Classifications are as follows:
By Component
- Platform
- Services
- Software
By End-user
- Banking, Financial Services, and Insurance
- IT and Telecom
- Energy and Utilities
- Healthcare
- Manufacturing
- Others
All viewpoints in the report are based on iterative validation by engaging influencer, experts of the market, whose opinions supersede all other research methodologies. Both primary and secondary approach are used and detailed product portfolio / service offering were analysed and have been presented in a separate chapter of competitive landscape along with company profile.
Detailed Insights on Market Concentration Rate:
CR4, CR8 and HHI Index Analysis of Overall Market
Comparative Market Share Analysis (Y-o-Y)
Major Companies
Emerging Players – Heat Map Analysis
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Table of Contents
1 Market Overview
1.1 Global AI in IoT Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 AI in IoT Type and Applications
2.1.3 AI in IoT Sales, Price, Revenue, Gross Margin and Market Share (2021-2027)
3 Global AI in IoT Market Competition, by Manufacturer
4 Global AI in IoT Market Analysis by Regions
5 Region 1, Type, Application and Manufacturers
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10 Global AI in IoT Market Segment by Type
11 AI in IoT Market Segment by Application
12 AI in IoT Market Forecast (2021-2027)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix
….Continued
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