AIoT Platforms Market

The Growth of AIoT Platforms Market Driven by Government Spending, Data Management Demand, and Automation

The growth of the AIoT platform market is primarily driven by increasing government spending and initiatives aimed at developing AIoT platforms. Additionally, there is a rising demand for effective data management derived from IoT devices, which enables valuable insights, streamlined production processes, and reduced downtime.

The surge in demand for AIoT automation stems from the necessity for intelligent systems that can function and make decisions independently, without human intervention. This need is met through the utilization of AIoT platforms and services, which automate industrial processes like manufacturing by integrating AI algorithms with sensors, robots, and other devices. As a result, machines are empowered to operate autonomously, minimizing the requirement for human involvement and enhancing overall efficiency.

AIoT Platforms Market Size

Report	Details
Market Size Value	USD 5.1 billion in 2024
Market Size Value	USD 92.0 billion by 2032
CAGR	37.9%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020
Segments Covered	Component, End-user  and Region
Geographics Covered	North America, Latin America, Europe, Asia-Pacific, Middle East & Africa

Major players AIoT Platforms Market include: Amazon Web Services, Autoplant System India Pvt. Ltd., Axiomtek, Cisco, Cognosos, Falkonry, Google, Hitachi, HPE, IBM, Intel, Microsoft, Nxp, Oracle, Relayr, Sap, Sas Institute Inc., Semifive, Sharp Global, Sight Machine, Tencent Cloud, Terminus Group, Uptake Technologies Inc., Wiliot  & others.

The Significance of Managed Services in the AIoT Market: Enhancing Customer Experiences and Market Position

Managed services play a crucial role in maintaining customer experiences and securing strong market positions for companies. In the current business environment, organizations face challenges in balancing their focus between core processes and supporting various functions, which increases the importance of managed services. These services provide the necessary technical expertise to effectively maintain and update software within the AIoT ecosystem. Operators increasingly demand integrated facility management, consulting, 24/7 help desk support, finance, and accounting services to meet their evolving needs. The rising adoption of outsourced managed services within the AIoT market is a key driver for this segment's growth.

North America Dominated the AIoT Platforms Market during the forecast period.

North America is projected to hold the largest market share of the AIoT Platforms Market during the forecast period. North America witnessed a growth in the artificial intelligence of things (AIoT) market, primarily driven by the increasing adoption of IoT. The Internet of Things (IoT) has experienced significant expansion, with diverse industries utilizing IoT devices and sensors to gather data and enhance operational efficiency. As the number of connected devices continues to rise, there is a pressing need for robust platforms capable of handling the enormous volumes of generated data and extracting valuable insights. AIoT platforms play a crucial role by providing the necessary infrastructure and tools to effectively manage and analyze this data.

Furthermore, the market in the region is being propelled by the adoption of predictive analysis. AIoT platforms leverage AI algorithms to analyze intricate patterns and correlations within IoT data. It can identify anomalies, predict future trends, and offer real-time recommendations. This predictive capability empowers businesses to optimize their operations, enhance customer experiences, and drive innovation. By harnessing the power of AI in conjunction with IoT, organizations can make informed decisions, increase efficiency, and unlock new opportunities for growth.

The AIoT Platforms Market research report provides an in-depth overview of the industry including market segmentation by Component, End-user  and Region. Analysis of the global market with special focus on high growth application in each vertical and fast-growing market segments. It includes detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top players rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, game-changing developments such as new product launch, collaborations, expansions, investment analysis, mergers and acquisitions.

AIoT Platforms Market is segmented by region and further by countries, Component, End-User. Players, stakeholders, and other participants in the global AIoT Platforms Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.

Report further studies the market strategies of key players, recent development status, future plans and AIoT Platforms Market trends across the world. Also, it splits AIoT Platforms Market Segmentation by material, end-user and region to deep dive research and reveals company profile and prospects.

Major Classifications are as follows:

• By Component
  • Platform
    • Application Management
    • Connectivity Management
    • Device Management
  • Software
    • Data Management
    • Network Bandwidth Management
    • Real-time Streaming Analytics
    • Remote Monitoring
    • Security
    • Edge Solution
• By Services
  • Managed Services
  • Professional Services
• By End-user
  • Manufacturing
  • Healthcare
  • Retail
  • BFSI
  • Transportation & Logistics
  •  Energy & Utilities
  • Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Reason to purchase this AIoT Platforms Market Report:

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• Gain an in-depth understanding of the underlying factors driving demand for different and AIoT Platforms Market segments in the top spending countries across the world and identify the opportunities offered by each of them.
• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels that are driving the global AIoT Platforms Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global AIoT Platforms Market.
• Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top AIoT Platforms Market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.