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AIoT Market Size

Report ID: GMI5717
Published Date: May 2023
Report Format: PDF

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AIoT Market Size

Artificial Intelligence of Things (AIoT) Market Size was valued at over USD 9 billion in 2022 and is anticipated to grow at a CAGR of 20% between 2023 and 2032. The market is expanding as more industries adopt AI and IoT technologies. AIoT combines the advantages of artificial intelligence & the Internet of Things to provide advanced data analysis, increased operational efficiency, and improved decision-making abilities. As a result, the demand for AIoT solutions has increased in industries such as healthcare, manufacturing, retail, and transportation. Furthermore, the expansion of edge computing, cloud computing, and 5G networks is driving AIoT adoption.

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IoT Data as a Service (IoTDaaS) is one of the technologies that AIoT uses to enhance decision-making processes, data management, human-machine interaction, and analytics operations. IoT generates the data, which AI then analyzes to produce insightful information, and, in turn, the desired behavior or action required to increase effectiveness and productivity.

Artificial Intelligence of Things (AIoT) Market Report Attributes
Report Attribute	Details
Base Year:	2022
Artificial Intelligence of Things (AIoT) Market Size in 2022:	USD 9 Billion
Forecast Period:	2023-2032
Forecast Period 2023-2032 CAGR:	20%
032 Value Projection:	USD 25 Billion
Historical Data for:	2018-2022
No. of Pages:	200
Tables, Charts & Figures:	232
Segments covered:	Component, Deployment, Application
Growth Drivers:	Rising adoption in manufacturing industry High efficiency of AIoT platforms devices AIoT industrial hardware is growing smarter Edge-Computing-Powered Artificial Intelligence of Thing Increased adoption of AIoT platforms devices across sectors for real-time decision making. Shortage of skilled workforce in companies requiring expertise in AIoT platforms
Pitfalls & Challenges:	Complexities in industry value chain

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Security and privacy concerns are among the most pressing issues confronting the digital transformation market. As organizations rely more on digital technology, they collect & store large amounts of sensitive data, making them vulnerable to cyberattacks and data breaches. Furthermore, as the number of connected devices grows, the attack surface for hackers grows, making it more difficult to secure these devices and the data they collect & transmit.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of AIoT was valued at USD 9 billion in 2022 and is set to grow at over 20% CAGR between 2023 and 2032.

The software segment held a major market value of over USD 5 billion in 2022, due to the need for improved risk management capacity, optimization, decreased downtime, intelligent real-time monitoring of processes, and enhanced data management & analysis.

The market is experiencing strong growth in the United States owing to rise in the adoption of IoT devices and sensors to gather data and improve operational efficiency across industries.

Amazon Web Services, Inc, Alibaba Group Holding Limited, Baidu Inc., Brighterion, Inc, Canvass Analytics, Cisco Systems, Inc., Fujitsu Ltd, General Vision Inc., Google LLC, Intel Corporation, IBM, Microsoft Corporation, and Tencent Holdings Limited among others.