AIoT Market Analysis

AIoT Market Analysis

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The cloud deployment segment accounted for 45% of AIoT market share in 2022, attributed to the fact that cloud based AIOps platforms eliminate firewall restrictions that can impede access to an on-premises solution. Overhead & maintenance costs are also eliminated with cloud-based and SaaS platforms. Furthermore, cloud object storage services provide unlimited virtual storage capacity, removing the storage volume and scalability constraints of locally installed hardware.
 

The artificial intelligence of things market from healthcare sector is poised to witness over 25% CAGR through 2032. AIoT is gaining traction in the healthcare industry. Wearable devices, such as smartwatches & fitness trackers, are increasingly being used to monitor and track a patient’s health status. These devices can collect data on everything from heart rate and blood pressure to sleep patterns and physical activity, which doctors can use to diagnose and treat various health problems.
 

The artificial intelligence of things market is experiencing growth in the United States owing to rise in the adoption of IoT. The Internet of Things (IoT) is rapidly expanding, with a wide range of industries deploying IoT devices and sensors to gather data and improve operational efficiency. As the number of connected devices continues to grow, there is a need for robust platforms that can handle the massive amounts of data generated and extract valuable insights. AIoT platforms provide the necessary infrastructure and tools to manage and analyze this data effectively. Moreover, predictive analysis is also driving the market in the U.S. By leveraging AI algorithms, these platforms can analyze complex patterns and correlations within IoT data, identify anomalies, predict future trends, and provide real-time recommendations. This capability empowers businesses to optimize operations, improve customer experiences, and drive innovation.
 

The Asia Pacific AIoT market size crossed USD 2 billion revenue in 2022. The use of AIoT technology is growing in the Asia Pacific region. China, Japan, and India are the major countries contributing to the regional market growth. The region's large population, widespread adoption of mobile & internet technologies, and thriving manufacturing sector have all contributed to the growing demand for AIoT applications. In Asia Pacific, AIoT adoption is increasing in industries including smart cities, healthcare, transportation, agriculture, and manufacturing. For instance, some Asian countries are launching projects to build smart cities that will use AIoT technologies to improve livability.