Artificial Intelligence of Things (AIoT) Market Size, Share, Growth Analysis, By Offering, Technology(Machine Learning, NLP, Generative AI, Robotics), Application(Condition Monitoring, SCM, Predictive Maintenance, Inventory Management, Others), End User, and Region - Industry Forecast 2024-2031


Report ID: SQMIG45B2114 | Region: Global | Published Date: June, 2024
Pages: 197 |Tables: 128 |Figures: 77

Artificial Intelligence of Things (AIoT) Market Insights

Artificial Intelligence of Things (AIoT) Market size was valued at USD 65.50 billion in 2022 and is poised to grow from USD 82.01 billion in 2023 to USD 495.09 billion by 2031, growing at a CAGR of 25.2% during the forecast period (2024-2031).

The Artificial Intelligence of Things (AIoT) market is quickly evolving and is one of the most significant drivers of change in the world and the integration of artificial intelligence and the internet of things. This convergence seems set to transform how we engage with technology to enrich and facilitate our daily existence in various sectors and fields. The use of intelligent algorithms and machine learning models play a key role in the AIoT market which is in charge of connecting AI structures and IoT devices, systems and sensors. It makes these connected devices capable of analyzing the collected data, making decisions, taking actions and performing actions and functions on their own to an extent, where they can work more effectively, optimize themselves in accordance to the changing environmental conditions and offer insights that are not easily obtainable. 

Another factor driving the AIoT market is the increasing number of Internet of Things devices, which has reached several billion, and the growth of the data generated by these devices. This means that by using the AI features, these IoT devices will be able to get value from this data, enhance their self-optimization, enhance self-autonomous functions, and also enhance functions that are of personalized value to users. For instance, June 2023, Amazon Go stores disrupted the retail business through Artificial Intelligence of Things. These cashier-less stores have web-powered interconnected smart devices that subtract the amount of the purchase from a customer’s e-wallet upon exiting. When a customer cancels/bounces an item, then the item is deleted from the cart and the total amount calculated is instantly reduced. Many challenges were made easier by the implementation of the AIoT; this has notably changed the manner in which Amazon Go store shoppers’ shop. 

There are also other compelling factors, which include the technological trends in AI and the increased use of the AIoT in devices like drones, homes, and factories. These are some of the AI features that the gay IoT device is becoming more capable of perceiving its surroundings, interpreting user input and make pertinent decisions in real time. Based on current statistics, AIoT has a wide variety of applications in almost all sectors, including smart homes, smart city, industrial equipment, healthcare, transportation, and more. All of these industries are experiencing a surge in AIoT solutions adoption as businesses, as well as consumers, notice the benefits within various aspects of performance concerning efficiency, cost, and the end-user interactions.

Market Snapshot - 2024-2031

Global Market Size

USD 65.50 billion

Largest Segment

Software

Fastest Growth

Services

Growth Rate

25.2% CAGR

Global Artificial Intelligence Of Things (AIoT) Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Artificial Intelligence of Things (AIoT) Market Segmental Analysis

Global Artificial Intelligence of Things (AIoT) Market is segmented by offering, technology, application, industry vertical, and region. Based on offering, the market is segmented into hardware, software, and services. Based on technology, the market is segmented into machine learning, natural language processing (NLP), generative ai, robotics, computer vision, autonomous and sensor technology. Based on application, the market is segmented into real-time machinery condition monitoring, supply chain management, predictive maintenance, inventory management, energy consumption management, and others. Based on industry vertical, the market is segmented into BFSI, manufacturing, healthcare, automotive, retail, transportation & logistics, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.  

Artificial Intelligence of Things (AIoT) Market Analysis by Offering 

The software segment is leading in the growth of AIoT market. These include the various software parts, environments and applications meant to support intelligence at the edges of IoT systems. These are the software applications that incorporate learning procedures, techniques of decision making, and data analysis which enable IoT devices to understand the data they collect, analyze it and take appropriate action. Software is well-positioned for creating value in the AIoT space as it contains the intelligence and decision-making organizational framework that is needed in addition to structural and physical connectivity. Cryptography, security, human-computer interfaces, machine learning, and evolutionary algorithms are all other segments that are expected to be prominent in the AIoT market. 

The services segment is the most prominent and the fastest-growing segment in the AIoT market. It refers to various services, like systems integration and installation, configuration and technical support, system management services, and implementations, which forms a separate segment given the importance of these services to the effective deployment and functioning of the AIoT solutions. With companies and customers gaining better understanding of and becoming active participants in AIoT applications, the need for systematic services to facilitate and support the implementation, integration, and refinement of such solutions is emerging much faster. The services segment is expected to grow rapidly, given the increasing demand that organizations have for optimizing the value of AIoT and due to the tight coupling of AI and IoT, where organizations may need specific help in successfully implementing these two domains. 

Artificial Intelligence of Things (AIoT) Market Analysis by End-user 

The manufacturing industry has the largest share of the AIoT market. It is with such a warm welcome that this sector has been in the frontline of adopting the new AIoT technologies due to the need of Industrial operations to be more efficient, productive and should be able to detect faults within the system. Manufacturing applications of AIoT include collecting data for monitoring manufacturing systems and processes, analyzing the condition of the manufacturing systems and making decision based on that to minimize downtime and enhance better products. Featuring the application of AI and IoT in manufacturing has reduced on cost, optimised utilisation of resources and generally raised the overall equipment effectiveness. Here we conclude the industrial revolution 4 as the manufacturing industry continues to expand in its application. Therefore, it is projected that strong focus on AIoT solutions will remain continued over the forecast period, thus maintaining the manufacturing segment dominant in the overall AIoT market. 

The healthcare sector has been found to be the most rapidly expanding market in the AIoT market. Extensive utilization of AIoT technologies has been observed in the healthcare sector as the benefits of increased patient engagement, better decision-making, and enhanced system efficiency via AIoT have come to the fore. AIoT solutions in the healthcare sector can be applied to telemedicine, correctly identified disease diagnosis, further individualized treatment, and optimizing the distribution of resources. AI and IoT technologies are also being integrated for healthcare applications and these are getting more significant with COVID-19, as remote and intelligent healthcare has become important. With the advancement in the modern healthcare systems, the necessity of implementing AIoT technologies on the market is likely to increase eventually and predicted to be the fastest-growing segment in the general AIoT market.

Global Artificial Intelligence Of Things (AIoT) Market Size By Offering (%)

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Artificial Intelligence of Things (AIoT) Market Regional Insights

North America dominated the global market in 2023. This has led to an increased uptake of IoT in various industries in the region, whose growth contributes to the advanced expansion forecasted for the industry. Internet of Things (IoT) is enriching expectedly, with enhancement of sensors and IoT devices across various sectors to gather and optimize working procedures and parameters data. Moreover, AIoT brings all the necessary frameworks that allow one to orchestrate the steady stream of data and carry out the analysis quickly. The following factors are also future-proofing market growth in the region: Predictive analytics. As the platforms which are based on the concepts of AI, these platforms are actually capable to recognize the multi-parameters relationship and correlation of the IoT data, anticipate the future shared affairs, detect the variation and then offer out the real-time advices or suggestions. This capability helps various organizations reduce the customers’ costs, enhance their experiences, and also incubate innovations. Hence, North America possesses the largest market for this sector in the world market, owing to constant improvement in the region. 

The market for artificial intelligence of things is expected to grow at a rapid pace across Asia Pacific region during the forecast periods, particularly, with major countries like China, India, and Japan contributing toward the regional market growth. Market factors such as popularity of internet and mobile usage, big population, higher manufacturing industry and rise in the usage of Artificial Intelligence and internet of things has fuelled the demand for AIoT applications in this region.

Global Artificial Intelligence Of Things (AIoT) Market Size By Geography
  • Largest
  • Fastest

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Artificial Intelligence of Things (AIoT) Market Dynamics

Artificial Intelligence of Things (AIoT) Market Drivers

Rising Demands of an Environment-friendly Smart City to Spearhead Market Expansion 

  • AIoT has a great influence over digital homes and extends its effort towards the development of sustainable communities. This has fostered the application for the efficient use of energy and water for smart cities and has furthered the market advancement. They augment process efficiency through facilitating automation and improved decision making. For instance, Smart City Development, a company that specializes in manufacturing and conceptualizing smart cities at an affordable price, proposes a solution known as Smart Infrastructure Management or SIM. The solution being referred to lays its foundation in IoT, considered as the foundational pillar of the framework as it presents data processed by AI. Moreover, AIoT is initiatory and deployed to recognize characteristic events. It is implemented onto SIM’s tank truck and water management to pre-alert of low water levels in overhead tank (OHT) and subsequently turning on the refill pumps. This helps residents to have a constant water supply while reducing water wastage and boosting the standard of living. So, we see that adopting AIoT to encourage efficient utilization of water and energy is one of the key reasons for the expansion of the global market. 

Increased Efficiency and Optimization

  • Many IoT systems have adopted the implementation of AI elements to boost their performances and enhance their effectiveness. AIoT solutions, when integrated with AI ecosystems, can effectively process data in real-time and make informed decisions to drive automation, efficiency as well as optimal resource utilization. In corporations and institutions where efficiency is the key factor for success, where cost reduction is necessary, and the need to sustain competitive advantage is paramount, the trend towards the use of AIoT technologies that can provide these kinds of solutions is already apparent. 

Artificial Intelligence of Things (AIoT) Market Restraints 

Challenges Associated with Data Security and Privacy Posing Threat to Market Growth 

  • There are considerable concerns when AI and IoT devices are interoperated since there are security problems with the technology. AIoT systems are data-hungry, which makes them deal with large quantities of – often even private – data, meaning they may be at risk of being hacked. Security, privacy, and isolation, blocking illicit access to the AIoT networks, are recognized as significant issues for the market. Hence, guarding the AIoT systems against malicious attacks and obscuring the identity of the user information are the two major hurdles that are slowing down the market growth. 

Complexity of Integration and Implementation 

  • Particularly in the case of a new AIoT system, the integration of certain hardware and software elements, such as sensors, connectivity protocols, data analysis algorithms, or AI models, may be needed. However, given the sophistication of this integration coupled with the fact that AI and IoT skill sets may be unique to their respective industries, it may take some time to deploy and could act as a constraint or a throttle to the growth of AIoT. Integrating IoT systems and AI frameworks might be challenging because different IoT platforms may use incompatible openness levels and integration styles, and there may not be a standardization of these interfaces, specifications or protocols.

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Artificial Intelligence of Things (AIoT) Market Competitive Landscape

Global AIoT market is fragmented with potential entrants and existing players from various industries competing for a share. Established players include leading international technology corporations, specialist AIoT solution providers, as well as a new generation of startups focused on creating sustainable markets and unique value propositions. Players with the potential to transform the AIoT marketplace are primarily drawn from the technology sector given their stature in cloud computing, AI and IoT space in a bid to offer optimal AIoT solutions. Moreover, major dedicated AIoT players are also advancing fast and providing divergent optimized hardware platform and software tools for AIoT use cases. 

Start-ups are also appearing and competing with established companies with innovative and unique solutions for the AIoT, frequently with an emphasis on certain sectors, applications, or industries. These new players that are entering company spaces are bringing new ideas and products, thus creating new business opportunities and rivalry in the larger field of AIoT. Competitive pressure of AIoT market will further increase as the market expands as it comes, players will strive to seek more market share for value increased opportunity of various new industries and application.

Artificial Intelligence of Things (AIoT) Market Top Player’s Company Profiles

  • IBM (US) 
  • Sharp Global (Japan) 
  • AWS (US) 
  • Microsoft (US) 
  • Oracle (US) 
  • HPE (US) 
  • Cisco (US) 
  • Intel (US) 
  • Tencent Cloud (China) 
  • NXP (Netherlands) 
  • SAS (US) 
  • Hitachi (Japan) 
  • SAP (Germany) 
  • AxiomTek (Taiwan) 
  • Autoplant Systems India Pvt. Ltd. (India) 
  • Williot (Israel) 
  • Terminus Group (China) 
  • Robert Bosch GmbH (Germany) 
  • Semifive (South Korea) 
  • Falkonry (US)

Artificial Intelligence of Things (AIoT) Market Recent Developments

  • In April 2024, Powerfleet completed the acquisition of MiX Telematics to become the outstanding global AIoT SaaS provider for mobile assets. The rationale that the authors provide for the merger is about optimizing how data is collected, processed, and used in business. Its current CEO, Steve Towe, expects that the firm’s recurring revenue streams will grow at a faster pace in the near future and that its profitability will post-up after the merger is complete. The new board of directors comprise of Michael Brodsky who is the Chairman of the board, Steve Towe the CEO of the company, Ian Jacobs of MiX Telematics.  

  • In March 2024, eFishery had a merger with DycodeX, an Artificial intelligence Internet-Of-Things (IoT) company. This acqui-hire now adds DycodeX’s specialism in AI & IoT solutions to eFishery’s stable, and according to the announcement, the DycodeX team will be integrated into eFishery’s AIoT business unit. The company currently uses machine learning technology in its feeder manufactured products, but its future pipeline includes ten new products over the next few years, such as generative AI applications employing IoT platforms specifically for aquaculture to drive this sector’s advancement. 

Artificial Intelligence of Things (AIoT) Key Market Trends

  • Industrial Automation & Robotics in AIoT to Boost up the service need and requirement: AIoT is emerging as a new powerful tool for the automation of industries and robotics. Modern robots developed on the principles of artificial intelligence can understand speech and gestures, share information and coordinate their actions, learn, behave in different conditions and carry out difficult operations without involving a person. This trend is culminating in progressing the manufacturing and logistics industries and many others. Moreover, AIoT is revolutionizing Robotics by making it smart and self-sufficient systems in their context. Smart IoT devices within a robot gather information from the surrounding environment which may encompass sensor data, climate and performance of the machines and equipment being operated. Through the usage of this data, artificial intelligence (AI) algorithms can drive informed decisions, learn and adapt to new environs, and work faster on different ventures. The level of interaction between the autonomous systems and industrial processes can result in higher efficiency and better use of resources in multiple industries. For instance, in January 2022, Hitachi Industrial Equipment Systems Co., and Hitachi Limited said they have decided to advance the plans for the development of building business around the globe, through the use of industrial robots in Japan and ASEAN region. The companies also envisioned to become global pioneers in the Line Business through the propositions of Full Turnkey Solutions in Line Building complemented by Fusion with Digital Solutions. Consequently, factors such as industrial automation and robotics are influencing the artificial intelligence of things by developing new technologies that positively affect the market.

Artificial Intelligence of Things (AIoT) Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Artificial Intelligence of Things (AIoT) Market analysis, market is currently in the growth phase and is expected to grow further in the coming years.  The growth in IoT market can be significantly attributed to the rise in the usage of IoT devices and the escalating demand for intelligent and IoT connected solutions, not forgetting the constant advancement in AI technologies that are now being infused into the IoT solutions. Competitive analysis conducted by a research firm is useful based on this in that it helps in getting clues on where key players are really distinguishing themselves, and where the opportunities for disruption may exist. 

Report Metric Details
Market size value in 2022 USD 65.50 billion
Market size value in 2031 USD 495.09 billion
Growth Rate 25.2%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Offering
    • Hardware, software, services
  • Technology
    • Machine learning, natural language processing (NLP), generative ai, robotics, computer vision, autonomous, sensor technology
  • Application
    • Real-time machinery condition monitoring, supply chain management, predictive maintenance, inventory management, energy consumption management, others
  • Industry Vertical
    • BFSI, manufacturing, healthcare, automotive, retail, transportation & logistics, others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IBM (US) 
  • Sharp Global (Japan) 
  • AWS (US) 
  • Microsoft (US) 
  • Oracle (US) 
  • HPE (US) 
  • Cisco (US) 
  • Intel (US) 
  • Tencent Cloud (China) 
  • NXP (Netherlands) 
  • SAS (US) 
  • Hitachi (Japan) 
  • SAP (Germany) 
  • AxiomTek (Taiwan) 
  • Autoplant Systems India Pvt. Ltd. (India) 
  • Williot (Israel) 
  • Terminus Group (China) 
  • Robert Bosch GmbH (Germany) 
  • Semifive (South Korea) 
  • Falkonry (US)
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

 

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Artificial Intelligence of Things (AIoT) Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Artificial Intelligence of Things (AIoT) Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Artificial Intelligence of Things (AIoT) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Intelligence of Things (AIoT) Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Intelligence of Things (AIoT) Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Artificial Intelligence of Things (AIoT) Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Artificial Intelligence of Things (AIoT) Market size was valued at USD 65.50 billion in 2022 and is poised to grow from USD 82.01 billion in 2023 to USD 495.09 billion by 2031, growing at a CAGR of 25.2% during the forecast period (2024-2031).

Global AIoT market is fragmented with potential entrants and existing players from various industries competing for a share. Established players include leading international technology corporations, specialist AIoT solution providers, as well as a new generation of startups focused on creating sustainable markets and unique value propositions. Players with the potential to transform the AIoT marketplace are primarily drawn from the technology sector given their stature in cloud computing, AI and IoT space in a bid to offer optimal AIoT solutions. Moreover, major dedicated AIoT players are also advancing fast and providing divergent optimized hardware platform and software tools for AIoT use cases.  'IBM (US) ', 'Sharp Global (Japan) ', 'AWS (US) ', 'Microsoft (US) ', 'Oracle (US) ', 'HPE (US) ', 'Cisco (US) ', 'Intel (US) ', 'Tencent Cloud (China) ', 'NXP (Netherlands) ', 'SAS (US) ', 'Hitachi (Japan) ', 'SAP (Germany) ', 'AxiomTek (Taiwan) ', 'Autoplant Systems India Pvt. Ltd. (India) ', 'Williot (Israel) ', 'Terminus Group (China) ', 'Robert Bosch GmbH (Germany) ', 'Semifive (South Korea) ', 'Falkonry (US)'

AIoT has a great influence over digital homes and extends its effort towards the development of sustainable communities. This has fostered the application for the efficient use of energy and water for smart cities and has furthered the market advancement. They augment process efficiency through facilitating automation and improved decision making. For instance, Smart City Development, a company that specializes in manufacturing and conceptualizing smart cities at an affordable price, proposes a solution known as Smart Infrastructure Management or SIM. The solution being referred to lays its foundation in IoT, considered as the foundational pillar of the framework as it presents data processed by AI. Moreover, AIoT is initiatory and deployed to recognize characteristic events. It is implemented onto SIM’s tank truck and water management to pre-alert of low water levels in overhead tank (OHT) and subsequently turning on the refill pumps. This helps residents to have a constant water supply while reducing water wastage and boosting the standard of living. So, we see that adopting AIoT to encourage efficient utilization of water and energy is one of the key reasons for the expansion of the global market. 

Industrial Automation & Robotics in AIoT to Boost up the service need and requirement: AIoT is emerging as a new powerful tool for the automation of industries and robotics. Modern robots developed on the principles of artificial intelligence can understand speech and gestures, share information and coordinate their actions, learn, behave in different conditions and carry out difficult operations without involving a person. This trend is culminating in progressing the manufacturing and logistics industries and many others. Moreover, AIoT is revolutionizing Robotics by making it smart and self-sufficient systems in their context. Smart IoT devices within a robot gather information from the surrounding environment which may encompass sensor data, climate and performance of the machines and equipment being operated. Through the usage of this data, artificial intelligence (AI) algorithms can drive informed decisions, learn and adapt to new environs, and work faster on different ventures. The level of interaction between the autonomous systems and industrial processes can result in higher efficiency and better use of resources in multiple industries. For instance, in January 2022, Hitachi Industrial Equipment Systems Co., and Hitachi Limited said they have decided to advance the plans for the development of building business around the globe, through the use of industrial robots in Japan and ASEAN region. The companies also envisioned to become global pioneers in the Line Business through the propositions of Full Turnkey Solutions in Line Building complemented by Fusion with Digital Solutions. Consequently, factors such as industrial automation and robotics are influencing the artificial intelligence of things by developing new technologies that positively affect the market.

North America dominated the global market in 2023. This has led to an increased uptake of IoT in various industries in the region, whose growth contributes to the advanced expansion forecasted for the industry. Internet of Things (IoT) is enriching expectedly, with enhancement of sensors and IoT devices across various sectors to gather and optimize working procedures and parameters data. Moreover, AIoT brings all the necessary frameworks that allow one to orchestrate the steady stream of data and carry out the analysis quickly. The following factors are also future-proofing market growth in the region: Predictive analytics. As the platforms which are based on the concepts of AI, these platforms are actually capable to recognize the multi-parameters relationship and correlation of the IoT data, anticipate the future shared affairs, detect the variation and then offer out the real-time advices or suggestions. This capability helps various organizations reduce the customers’ costs, enhance their experiences, and also incubate innovations. Hence, North America possesses the largest market for this sector in the world market, owing to constant improvement in the region. 

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