Authored By: Sarah
23 Feb 2023

AI in IoT Market Size to Grow by USD 16,087.7 Million at a CAGR of 24.7% Between 2022 and 2027     

The artificial intelligence (AI) in IoT market share is expected to grow at a CAGR of 24.7% between 2022 and 2027. Analyzing IoT data faster and the growth in industrial automation provides a promising ground for artificial intelligence (AI) in the IoT market. 

The IoT is the network of various devices, such as vehicles and home appliances, which contain electronics, software, sensors, actuators, and connectivity. IoT devices generate vast amounts of data. Major vendors of AI in IoT solutions are now offering integrated AI capabilities such as machine learning-based analytics.

Browse Technavio's 163-page report and in-depth TOC on "AI in IoT Market by end-user (BFSI, IT and telecom, manufacturing, and others), component (software and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

View detailed Table of Contents Here: https://www.technavio.com/report/ai-in-iot-market-analysis

AI in IoT Market Size to Grow by USD 16,087.7 Million at a CAGR of 24.7% Between 2022 and 2027  

BFSI to be the Fastest-Growing AI in IoT Market Segment 

The artificial intelligence (AI) in the IoT market is segmented by end-user (BFSI, IT and telecom, manufacturing, and others), component (software and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The adoption of AI in IoT in banks also enhances the traditional banking model and provides access to real-time data. The implementation of AI in IoT in financial companies saves a lot of time and money by gathering and transferring data. 

APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors is North America. AI-based cybersecurity solutions are highly adopted by countries such as the US and Canada.

Rise in Privacy and Security Issues Pose a Significant Challenge 

The rise in privacy and security issues has become a major challenge to the adoption of artificial intelligence (AI) in IoT. Security is the foremost concern for individual consumers and enterprises purchasing IoT devices. The vulnerability of devices connected to the Internet, in terms of privacy and security concerns, must be dealt with before the large-scale commercialization of IoT devices.

Major AI in IoT Market Vendors 

The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.  

Some of the major artificial intelligence (AI) in the IoT market vendors are AIKairos Pvt. Ltd., Alphabet Inc., Amazon.com Inc., Arundo Analytics Inc., Autoplant System India Pvt. Ltd., Avnet Inc., C3.ai Inc., General Electric Co., Hitachi Ltd., Imagimob AB, International Business Machines Corp., Microsoft Corp., Oracle Corp., PTC Inc., Renesas Electronics Corp., Salesforce.com Inc., SAP SE, Thingstel Tech Solutions India Pvt. Ltd., Uptake Technologies Inc., and SAS Institute Inc.

aikairos.com - The company offers AI in IoT solutions such as AI-Powered Web Applications, Multiplatform Multisensor Data Fusion

Download the PDF Sample Report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.   

Key Data Covered in the AI in IoT Market Report  

  • Precise market size estimation during the forecast period 2023-2027. 

  • CAGR of the artificial intelligence (AI) in IoT market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the artificial intelligence (AI) in IoT market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge artificial intelligence (AI) in the IoT market.  

  • artificial intelligence (AI) in the IoT market growth across North America, Europe, APAC, South America, and Middle East and Africa.

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