Global Artificial Intelligence (AI) in Internet of Things Market Size Study & Forecast, by Component (Platform, Software, Service), By Technology (Machine Learning and Deep Learning, Natural Language Processing (NLP)), By Industry Vertical (BFSI, IT and Telecom, Retail and E-commerce, Manufacturing, Healthcare, Energy and Utilities, Transportation and Mobility, Others), and Regional Analysis, 2023-2030
Global Artificial intelligence (AI) in Internet of Things Market is valued at approximately USD 10.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 24.8% over the forecast period 2023-2030. Artificial intelligence (AI) in Internet of Things (IoT) refers to the application of machine learning and deep learning techniques to analyze huge amounts of data generated by IoT devices. It involves using AI algorithms to IoT data in order to acquire useful data, spot trends, and make predictions or decisions. In addition, automation is another aspect of AI in IoT, where AI-powered solutions optimize processes, enhance corporate operations, and enable autonomous decision-making throughout the IoT ecosystem. Additionally, the combination of artificial intelligence with IoT has the potential to offer a number of advantages for both consumers and enterprises. IoT solutions with AI increase productivity and efficiency for organizations while also lowering expenses. The global market growth is being driven by the factors such as the increasing need for real-time insights to process and analyze data manually, rising big data volume, growing demand for automation and efficiency, coupled with the increasing investment in Industry 4.0 technologies.
In addition, the rising adoption of IoT devices is acting as a catalyzing factor for market growth across the globe. IoT devices generate enormous amounts of data. AI algorithms analyze this data to identify trends, anomalies, and patterns that might not be easily discernible by humans. This analysis leads to actionable insights that can drive better decision-making. As per Statista report, in 2019, there were around 8.6 billion Internet of Things (IoT) connected devices were recorded, which is estimated to reach around 19.1 billion devices by 2025. Thus, these aforementioned factors are propelling the growth of Artificial intelligence (AI) in Internet of Things Market during the estimated period. Moreover, the rise in advancements in AI technologies, as well as growing focus on effective management of data generated from IoT devices to gain valuable insights are presenting various lucrative opportunities over the forecast years. However, the dearth of skilled professionals for AI infrastructure and rising data security and privacy concerns are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Artificial intelligence (AI) in Internet of Things Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the widespread implementation of AI and IoT technologies across a variety of industries, including manufacturing, retail, healthcare, and automotive and transportation. Additionally, the market is expanding as a result of several multinational corporations collaborating with industry providers to include AI-based IIoT into their manufacturing processes. For instance, in September 2022, P&G and Microsoft signed a multiyear collaboration deal to upgrade P&G's digital manufacturing infrastructure. Under this deal, the industrial internet of things (IIoT), digital twin, data, and AI, are accelerating product delivery to consumers and increasing customer satisfaction while boosting productivity and cutting costs.
Whereas, Asia Pacific is expected as a fastest growing region over the forecast years. The rise in digitalization, surge in demand for IoT devices, and higher adoption of advanced technology are significantly propelling the market demand across the region.
Major market players included in this report are:
Salesforce, Inc.
Google LLC
SAP SE
SAS Institute Inc.
Amazon Web Services Inc.
PTC Inc.
IBM Corporation
Oracle Corporation.
Softweb Solutions Inc.
Hitachi Ltd.
Recent Developments in the Market:
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Platform
Software
Service
By Technology:
Machine Learning and Deep Learning
Natural Language Processing (NLP)
By Industry Vertical:
BFSI
IT and Telecom
Retail and E-commerce
Manufacturing
Healthcare
Energy and Utilities
Transportation and Mobility
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
In addition, the rising adoption of IoT devices is acting as a catalyzing factor for market growth across the globe. IoT devices generate enormous amounts of data. AI algorithms analyze this data to identify trends, anomalies, and patterns that might not be easily discernible by humans. This analysis leads to actionable insights that can drive better decision-making. As per Statista report, in 2019, there were around 8.6 billion Internet of Things (IoT) connected devices were recorded, which is estimated to reach around 19.1 billion devices by 2025. Thus, these aforementioned factors are propelling the growth of Artificial intelligence (AI) in Internet of Things Market during the estimated period. Moreover, the rise in advancements in AI technologies, as well as growing focus on effective management of data generated from IoT devices to gain valuable insights are presenting various lucrative opportunities over the forecast years. However, the dearth of skilled professionals for AI infrastructure and rising data security and privacy concerns are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Artificial intelligence (AI) in Internet of Things Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the widespread implementation of AI and IoT technologies across a variety of industries, including manufacturing, retail, healthcare, and automotive and transportation. Additionally, the market is expanding as a result of several multinational corporations collaborating with industry providers to include AI-based IIoT into their manufacturing processes. For instance, in September 2022, P&G and Microsoft signed a multiyear collaboration deal to upgrade P&G's digital manufacturing infrastructure. Under this deal, the industrial internet of things (IIoT), digital twin, data, and AI, are accelerating product delivery to consumers and increasing customer satisfaction while boosting productivity and cutting costs.
Whereas, Asia Pacific is expected as a fastest growing region over the forecast years. The rise in digitalization, surge in demand for IoT devices, and higher adoption of advanced technology are significantly propelling the market demand across the region.
Major market players included in this report are:
Salesforce, Inc.
Google LLC
SAP SE
SAS Institute Inc.
Amazon Web Services Inc.
PTC Inc.
IBM Corporation
Oracle Corporation.
Softweb Solutions Inc.
Hitachi Ltd.
Recent Developments in the Market:
- In October 2022, Accenture and Google Cloud announced the expansion of their global partnership through a reaffirmed commitment to building their respective talent bases, enhancing their shared capabilities, developing cutting-edge solutions utilizing data and AI, and delivering improved support to help clients create effective digital core and reinvent their businesses on the cloud.
- Historical Data – 2020 - 2021
- Base Year for Estimation – 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Component, Technology, Industry Vertical, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Platform
Software
Service
By Technology:
Machine Learning and Deep Learning
Natural Language Processing (NLP)
By Industry Vertical:
BFSI
IT and Telecom
Retail and E-commerce
Manufacturing
Healthcare
Energy and Utilities
Transportation and Mobility
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Artificial intelligence (AI) in Internet of Things Market, by region, 2020-2030 (USD Billion)
1.2.2. Artificial intelligence (AI) in Internet of Things Market, by Component, 2020-2030 (USD Billion)
1.2.3. Artificial intelligence (AI) in Internet of Things Market, by Technology, 2020-2030 (USD Billion)
1.2.4. Artificial intelligence (AI) in Internet of Things Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET DYNAMICS
3.1. Artificial intelligence (AI) in Internet of Things Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing investment in Industry 4.0 technologies
3.1.1.2. Rise in the adoption of IoT devices
3.1.2. Market Challenges
3.1.2.1. Dearth of skilled professionals for AI infrastructure
3.1.2.2. Rising data security and privacy concerns
3.1.3. Market Opportunities
3.1.3.1. Rise in advancements in AI technologies
3.1.3.2. Growing focus on effective management of data generated from IoT devices to gain valuable insights
CHAPTER 4. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET: INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, BY COMPONENT
5.1. Market Snapshot
5.2. Global Artificial intelligence (AI) in Internet of Things Market by Component, Performance - Potential Analysis
5.3. Global Artificial intelligence (AI) in Internet of Things Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Artificial intelligence (AI) in Internet of Things Market, Sub Segment Analysis
5.4.1. Platform
5.4.2. Software
5.4.3. Service
CHAPTER 6. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, BY TECHNOLOGY
6.1. Market Snapshot
6.2. Global Artificial intelligence (AI) in Internet of Things Market by Technology, Performance - Potential Analysis
6.3. Global Artificial intelligence (AI) in Internet of Things Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
6.4. Artificial intelligence (AI) in Internet of Things Market, Sub Segment Analysis
6.4.1. Machine Learning and Deep Learning
6.4.2. Natural Language Processing (NLP)
CHAPTER 7. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, BY INDUSTRY VERTICAL
7.1. Market Snapshot
7.2. Global Artificial intelligence (AI) in Internet of Things Market by Industry Vertical, Performance - Potential Analysis
7.3. Global Artificial intelligence (AI) in Internet of Things Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
7.4. Artificial intelligence (AI) in Internet of Things Market, Sub Segment Analysis
7.4.1. BFSI
7.4.2. IT and Telecom
7.4.3. Retail and E-commerce
7.4.4. Manufacturing
7.4.5. Healthcare
7.4.6. Energy and Utilities
7.4.7. Transportation and Mobility
7.4.8. Others
CHAPTER 8. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, REGIONAL ANALYSIS
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Artificial intelligence (AI) in Internet of Things Market, Regional Market Snapshot
8.4. North America Artificial intelligence (AI) in Internet of Things Market
8.4.1. U.S. Artificial intelligence (AI) in Internet of Things Market
8.4.1.1. Component breakdown estimates & forecasts, 2020-2030
8.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
8.4.1.3. Industry Vertical breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Artificial intelligence (AI) in Internet of Things Market
8.5. Europe Artificial intelligence (AI) in Internet of Things Market Snapshot
8.5.1. U.K. Artificial intelligence (AI) in Internet of Things Market
8.5.2. Germany Artificial intelligence (AI) in Internet of Things Market
8.5.3. France Artificial intelligence (AI) in Internet of Things Market
8.5.4. Spain Artificial intelligence (AI) in Internet of Things Market
8.5.5. Italy Artificial intelligence (AI) in Internet of Things Market
8.5.6. Rest of Europe Artificial intelligence (AI) in Internet of Things Market
8.6. Asia-Pacific Artificial intelligence (AI) in Internet of Things Market Snapshot
8.6.1. China Artificial intelligence (AI) in Internet of Things Market
8.6.2. India Artificial intelligence (AI) in Internet of Things Market
8.6.3. Japan Artificial intelligence (AI) in Internet of Things Market
8.6.4. Australia Artificial intelligence (AI) in Internet of Things Market
8.6.5. South Korea Artificial intelligence (AI) in Internet of Things Market
8.6.6. Rest of Asia Pacific Artificial intelligence (AI) in Internet of Things Market
8.7. Latin America Artificial intelligence (AI) in Internet of Things Market Snapshot
8.7.1. Brazil Artificial intelligence (AI) in Internet of Things Market
8.7.2. Mexico Artificial intelligence (AI) in Internet of Things Market
8.8. Middle East & Africa Artificial intelligence (AI) in Internet of Things Market
8.8.1. Saudi Arabia Artificial intelligence (AI) in Internet of Things Market
8.8.2. South Africa Artificial intelligence (AI) in Internet of Things Market
8.8.3. Rest of Middle East & Africa Artificial intelligence (AI) in Internet of Things Market
CHAPTER 9. COMPETITIVE INTELLIGENCE
9.1. Key Company SWOT Analysis
9.1.1. Company
9.1.2. Company
9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Salesforce, Inc.
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Google LLC
9.3.3. SAP SE
9.3.4. SAS Institute Inc.
9.3.5. Amazon Web Services Inc.
9.3.6. PTC Inc.
9.3.7. IBM Corporation
9.3.8. Oracle Corporation.
9.3.9. Softweb Solutions Inc.
9.3.10. Hitachi Ltd.
CHAPTER 10. RESEARCH PROCESS
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Artificial intelligence (AI) in Internet of Things Market, by region, 2020-2030 (USD Billion)
1.2.2. Artificial intelligence (AI) in Internet of Things Market, by Component, 2020-2030 (USD Billion)
1.2.3. Artificial intelligence (AI) in Internet of Things Market, by Technology, 2020-2030 (USD Billion)
1.2.4. Artificial intelligence (AI) in Internet of Things Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET DYNAMICS
3.1. Artificial intelligence (AI) in Internet of Things Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing investment in Industry 4.0 technologies
3.1.1.2. Rise in the adoption of IoT devices
3.1.2. Market Challenges
3.1.2.1. Dearth of skilled professionals for AI infrastructure
3.1.2.2. Rising data security and privacy concerns
3.1.3. Market Opportunities
3.1.3.1. Rise in advancements in AI technologies
3.1.3.2. Growing focus on effective management of data generated from IoT devices to gain valuable insights
CHAPTER 4. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET: INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, BY COMPONENT
5.1. Market Snapshot
5.2. Global Artificial intelligence (AI) in Internet of Things Market by Component, Performance - Potential Analysis
5.3. Global Artificial intelligence (AI) in Internet of Things Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Artificial intelligence (AI) in Internet of Things Market, Sub Segment Analysis
5.4.1. Platform
5.4.2. Software
5.4.3. Service
CHAPTER 6. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, BY TECHNOLOGY
6.1. Market Snapshot
6.2. Global Artificial intelligence (AI) in Internet of Things Market by Technology, Performance - Potential Analysis
6.3. Global Artificial intelligence (AI) in Internet of Things Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
6.4. Artificial intelligence (AI) in Internet of Things Market, Sub Segment Analysis
6.4.1. Machine Learning and Deep Learning
6.4.2. Natural Language Processing (NLP)
CHAPTER 7. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, BY INDUSTRY VERTICAL
7.1. Market Snapshot
7.2. Global Artificial intelligence (AI) in Internet of Things Market by Industry Vertical, Performance - Potential Analysis
7.3. Global Artificial intelligence (AI) in Internet of Things Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
7.4. Artificial intelligence (AI) in Internet of Things Market, Sub Segment Analysis
7.4.1. BFSI
7.4.2. IT and Telecom
7.4.3. Retail and E-commerce
7.4.4. Manufacturing
7.4.5. Healthcare
7.4.6. Energy and Utilities
7.4.7. Transportation and Mobility
7.4.8. Others
CHAPTER 8. GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN INTERNET OF THINGS MARKET, REGIONAL ANALYSIS
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Artificial intelligence (AI) in Internet of Things Market, Regional Market Snapshot
8.4. North America Artificial intelligence (AI) in Internet of Things Market
8.4.1. U.S. Artificial intelligence (AI) in Internet of Things Market
8.4.1.1. Component breakdown estimates & forecasts, 2020-2030
8.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
8.4.1.3. Industry Vertical breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Artificial intelligence (AI) in Internet of Things Market
8.5. Europe Artificial intelligence (AI) in Internet of Things Market Snapshot
8.5.1. U.K. Artificial intelligence (AI) in Internet of Things Market
8.5.2. Germany Artificial intelligence (AI) in Internet of Things Market
8.5.3. France Artificial intelligence (AI) in Internet of Things Market
8.5.4. Spain Artificial intelligence (AI) in Internet of Things Market
8.5.5. Italy Artificial intelligence (AI) in Internet of Things Market
8.5.6. Rest of Europe Artificial intelligence (AI) in Internet of Things Market
8.6. Asia-Pacific Artificial intelligence (AI) in Internet of Things Market Snapshot
8.6.1. China Artificial intelligence (AI) in Internet of Things Market
8.6.2. India Artificial intelligence (AI) in Internet of Things Market
8.6.3. Japan Artificial intelligence (AI) in Internet of Things Market
8.6.4. Australia Artificial intelligence (AI) in Internet of Things Market
8.6.5. South Korea Artificial intelligence (AI) in Internet of Things Market
8.6.6. Rest of Asia Pacific Artificial intelligence (AI) in Internet of Things Market
8.7. Latin America Artificial intelligence (AI) in Internet of Things Market Snapshot
8.7.1. Brazil Artificial intelligence (AI) in Internet of Things Market
8.7.2. Mexico Artificial intelligence (AI) in Internet of Things Market
8.8. Middle East & Africa Artificial intelligence (AI) in Internet of Things Market
8.8.1. Saudi Arabia Artificial intelligence (AI) in Internet of Things Market
8.8.2. South Africa Artificial intelligence (AI) in Internet of Things Market
8.8.3. Rest of Middle East & Africa Artificial intelligence (AI) in Internet of Things Market
CHAPTER 9. COMPETITIVE INTELLIGENCE
9.1. Key Company SWOT Analysis
9.1.1. Company
9.1.2. Company
9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Salesforce, Inc.
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Google LLC
9.3.3. SAP SE
9.3.4. SAS Institute Inc.
9.3.5. Amazon Web Services Inc.
9.3.6. PTC Inc.
9.3.7. IBM Corporation
9.3.8. Oracle Corporation.
9.3.9. Softweb Solutions Inc.
9.3.10. Hitachi Ltd.
CHAPTER 10. RESEARCH PROCESS
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
