The global AIoT platform market was valued at $27.7 billion in 2023, and is projected to reach $424 billion by 2032, growing at a CAGR of 35.8% from 2024 to 2032. Artificial Intelligence (AI) and the Internet of Things (IoT) are the most advanced and transformative technologies that have elevated the growth of various industries. The seamless integration between AI software and IoT hardware is the technology that revolutionizes the smart industries era due to rapid need for machine intelligence and hyper-automation. This concept is known as the Artificial Intelligence of Things or AIoT.
Furthermore, utilizing an AIoT platform can solve problems regarding cloud data. With its ability to quickly process large amounts of data, an AIoT platform can help businesses make better use of the data they are collecting from IoT devices. This allows businesses to get more value from their IoT investments and make better decisions on the basis of real-time insights.
Factors such as, development of edge computing technology to enable real-time processing of data & to reduce latency and adoption of cloud computing to enable scalability, flexibility, and cost-effectiveness of AIoT systems are anticipated to create lucrative opportunities for the market growth. Moreover, integration of AIoT with blockchain technology enhances security and transparency, which positively impacts the growth of the market. However, data privacy & security concerns and lack of standardization in data formats, communication protocols, & network are expected to hamper the market growth.
In addition, high cost of implementation and maintenance of AIoT solutions can deter small and medium-sized enterprises (SMEs) from adopting these technologies. Furthermore, growth of smart cities and infrastructure, which creates opportunities for AIoT solutions to optimize resource management, reduces energy consumption and improves quality of life.
Moreover, the emergence of 5G networks, which enables faster data transmission and supports the deployment of AIoT applications at scale, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.In addition, surge in adoption of IoT devices, advancements in AI technology, and growth in demand for automation are expected to fuel the growth of the market during the forecast period.
The AIoT platform market scope is segmented on the basis of offering, solution type, industry vertical, end-user, and region. The report provides information on various offerings including solutions and services. In addition, it is categorized by different solution type such as device management, application management and connectivity management. Moreover, by end user, the market is classified into B2B, B2G and B2C. The details of the industry vertical namely BFSI, manufacturing, healthcare, retail, energy and utilities, transportation and logistics and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry.
The key players operating in the market include Cisco Systems Inc., SAS Institute Inc., International Business Machines Corporation (IBM), Google LLC, Intel Corporation, SAP SE, Microsoft Corporation, Hewlett Packard Enterprise Development LP, Oracle Corporation, Tencent Cloud, Amazon Web Services Inc., NXP Semiconductors, Axiomtek Co., Ltd., Williot and Sharp Corporation (SHARP).
Furthermore, utilizing an AIoT platform can solve problems regarding cloud data. With its ability to quickly process large amounts of data, an AIoT platform can help businesses make better use of the data they are collecting from IoT devices. This allows businesses to get more value from their IoT investments and make better decisions on the basis of real-time insights.
Factors such as, development of edge computing technology to enable real-time processing of data & to reduce latency and adoption of cloud computing to enable scalability, flexibility, and cost-effectiveness of AIoT systems are anticipated to create lucrative opportunities for the market growth. Moreover, integration of AIoT with blockchain technology enhances security and transparency, which positively impacts the growth of the market. However, data privacy & security concerns and lack of standardization in data formats, communication protocols, & network are expected to hamper the market growth.
In addition, high cost of implementation and maintenance of AIoT solutions can deter small and medium-sized enterprises (SMEs) from adopting these technologies. Furthermore, growth of smart cities and infrastructure, which creates opportunities for AIoT solutions to optimize resource management, reduces energy consumption and improves quality of life.
Moreover, the emergence of 5G networks, which enables faster data transmission and supports the deployment of AIoT applications at scale, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.In addition, surge in adoption of IoT devices, advancements in AI technology, and growth in demand for automation are expected to fuel the growth of the market during the forecast period.
The AIoT platform market scope is segmented on the basis of offering, solution type, industry vertical, end-user, and region. The report provides information on various offerings including solutions and services. In addition, it is categorized by different solution type such as device management, application management and connectivity management. Moreover, by end user, the market is classified into B2B, B2G and B2C. The details of the industry vertical namely BFSI, manufacturing, healthcare, retail, energy and utilities, transportation and logistics and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry.
The key players operating in the market include Cisco Systems Inc., SAS Institute Inc., International Business Machines Corporation (IBM), Google LLC, Intel Corporation, SAP SE, Microsoft Corporation, Hewlett Packard Enterprise Development LP, Oracle Corporation, Tencent Cloud, Amazon Web Services Inc., NXP Semiconductors, Axiomtek Co., Ltd., Williot and Sharp Corporation (SHARP).
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aiot platform market analysis from 2023 to 2032 to identify the prevailing aiot platform market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aiot platform market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aiot platform market trends, key players, market segments, application areas, and market growth strategies.
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- Consumer Buying Behavior Analysis
- End user preferences and pain points
- Industry life cycle assessment, by region
- Investment Opportunities
- Product Life Cycles
- Senario Analysis & Growth Trend Comparision
- Technology Trend Analysis
- Go To Market Strategy
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Pain Point Analysis
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Offering
- Solution
- Services
By Solution Type
- Connectivity Management
- Device Management
- Application Management
By Industry Vertical
- Manufacturing
- BFSI
- Healthcare
- Retail
- Energy and Utilities
- Transportation and Logistics
- Others
By End User
- B2B
- B2G
- B2C
By Region
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Southeast Asia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Turkey
- Middle East
- Africa
Key Market Players
- Amazon Web Services Inc.
- Axiomtek Co., Ltd.
- Cisco Systems Inc.
- Google LLC
- Hewlett Packard Enterprise Development LP
- Intel Corporation
- International Business Machines Corporation (IBM)
- Microsoft Corporation
- NXP Semiconductors
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Sharp Corporation (SHARP)
- Tencent Cloud
- Williot
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AIOT PLATFORM MARKET, BY OFFERING
CHAPTER 5: AIOT PLATFORM MARKET, BY INDUSTRY VERTICAL
CHAPTER 6: AIOT PLATFORM MARKET, BY SOLUTION TYPE
CHAPTER 7: AIOT PLATFORM MARKET, BY END USER
CHAPTER 8: AIOT PLATFORM MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to a new report, titled, 'AIoT Platform Market,' The aiot platform market was valued at $4.7 billion in 2022, and is estimated to reach $129.2 billion by 2032, growing at a CAGR of 39.5% from 2023 to 2032.AIoT Platform provides automation capabilities to various industries, reducing operational costs, increasing efficiency & accuracy, and improving customer experience. Automation capabilities have become increasingly important as businesses strive to streamline their operations and increase productivity. Moreover, predictive maintenance has become increasingly important for industries such as manufacturing, energy, and transportation. In addition, AIoT can be used to optimize transportation systems, reduce traffic congestion, and improve safety on roads. With the rise in urbanization, there is an increase in demand for intelligent transportation systems that can improve the flow of traffic and reduce accidents. Overall, the AIoT market is driven by the need for intelligent and automated systems that can process and analyze vast amounts of data in real-time, enabling organizations to make informed decisions and take actions based on data-driven insights.
- On the basis of solution type, the global AIoT platform market share was dominated by the device management segment in 2022 and is expected to maintain its dominance in the upcoming years owing to the AIoT services that can help streamline device management by providing real-time insights into device performance, identifying issues and anomalies, and predicting maintenance needs. However, the application management segment is expected to witness the highest growth, as AIoT is a powerful tool for application management, enabling organizations to optimize their application portfolio and maximize the value of their digital investments.
- By region, North America dominated the market share in 2022 for the AIoT platform market. The rise in investment in advanced technologies, such as cloud-based services, AI, ML, business analytics solution, and IoT, to improve businesses and the customer experience are anticipated to propel the growth of the AIoT platform market. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology are expected to provide lucrative growth opportunities for the market in this region.
The COVID-19 pandemic significantly impacted various industries and has accelerated the adoption of AIoT platform across the world. With lockdowns and social distancing measures in place, businesses and organizations have had to rely on remote monitoring and automation solutions to manage their operations. Therefore, AIoT platforms enabled real-time monitoring of devices, processes, and environments, allowing businesses to operate with minimal human intervention. Furthermore, the disruption caused by the pandemic highlighted the importance of resilient and optimized supply chains. Market players adopted AIoT platforms that helps in tracking inventory levels, optimizing logistics routes, and predicting demand fluctuations, thereby enabling businesses to respond quickly to changing market conditions and ensuring the availability of essential goods. For instance, in August 2022, Oracle expanded artificial intelligence (AI), IoT and automation capabilities to help organizations optimize supply chain management. AI-powered lead time estimates in Oracle Supply Chain Planning help users improve the accuracy of lead time assumptions by using machine learning to highlight variances based on actual performance. Such factors have propelled the growth of AIoT platform during the pandemic.
Government initiative:
Government initiatives play a crucial role in fostering the development and adoption of AIoT platforms. Governments around the world are recognizing the potential benefits of AIoT in various sectors and are implementing strategies to support its growth. Governments often provide funding and grants to support research, development, and deployment of AIoT platforms. These funds can be allocated to startups, academic institutions, and industry collaborations to spur innovation and accelerate the adoption of AIoT technologies. For instance, in June 2020 India joined the league of leading economies including USA, UK, EU, Australia, Canada, France, Germany, Italy, Japan, Mexico, New Zealand, Republic of Korea, Singapore to launch the global partnership on artificial intelligence. It is an international and multi-stakeholder initiative to guide the responsible development and use of AI, grounded in human rights, inclusion, diversity, innovation, and economic growth. This is also the first initiative of its type for evolving better understanding of the challenges and opportunities around AI using the experience and diversity of participating countries. The initiative bridges the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.
KEY FINDINGS OF THE STUDY
- By component, in 2022, the solution segment was the highest revenue contributor to the market, with an 38.2% impressive CAGR. However, the services segment is estimated to reach $45,290.70 million by 2032, during the forecast period.
- By industry vertical, the manufacturing segment is estimated to reach $24,408.69 million by 2032, with an 36.8% impressive CAGR, during the forecast period. However, transportation and logistics segments are expected to witness approximately 43.4% CAGRs, respectively, during the forecast period respectively.
- Region-wise, the AIoT platform market growth was dominated by North America. However, Asia-Pacific and Europe are expected to witness a significant growth rate during the forecasted period.
Companies Mentioned
- Amazon Web Services Inc.
- Axiomtek Co., Ltd.
- Cisco Systems Inc.
- Google LLC
- Hewlett Packard Enterprise Development LP
- Intel Corporation
- International Business Machines Corporation (IBM)
- Microsoft Corporation
- NXP Semiconductors
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Sharp Corporation (SHARP)
- Tencent Cloud
- Williot
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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