AIoT Platform Market By Offering (Solution, Services), By Industry Vertical (Manufacturing, BFSI, Healthcare, Retail, Energy and Utilities, Transportation and Logistics, Others), By Solution Type (Connectivity Management, Device Management, Application Management), By End User (B2B, B2G, B2C): Global Opportunity Analysis and Industry Forecast, 2024-2032
The global AIoT platform market was valued at $27.7 billion in 2023, and is projected to reach $424 billion by 2032, growing at a CAGR of 35.8% from 2024 to 2032. Artificial Intelligence (AI) and the Internet of Things (IoT) are the most advanced and transformative technologies that have elevated the growth of various industries. The seamless integration between AI software and IoT hardware is the technology that revolutionizes the smart industries era due to rapid need for machine intelligence and hyper-automation. This concept is known as the Artificial Intelligence of Things or AIoT. Furthermore, utilizing an AIoT platform can solve problems regarding cloud data. With its ability to quickly process large amounts of data, an AIoT platform can help businesses make better use of the data they are collecting from IoT devices. This allows businesses to get more value from their IoT investments and make better decisions on the basis of real-time insights.
Factors such as, development of edge computing technology to enable real-time processing of data & to reduce latency and adoption of cloud computing to enable scalability, flexibility, and cost-effectiveness of AIoT systems are anticipated to create lucrative opportunities for the market growth. Moreover, integration of AIoT with blockchain technology enhances security and transparency, which positively impacts the growth of the market. However, data privacy & security concerns and lack of standardization in data formats, communication protocols, & network are expected to hamper the market growth. In addition, high cost of implementation and maintenance of AIoT solutions can deter small and medium-sized enterprises (SMEs) from adopting these technologies. Furthermore, growth of smart cities and infrastructure, which creates opportunities for AIoT solutions to optimize resource management, reduces energy consumption and improves quality of life. Moreover, the emergence of 5G networks, which enables faster data transmission and supports the deployment of AIoT applications at scale, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.In addition, surge in adoption of IoT devices, advancements in AI technology, and growth in demand for automation are expected to fuel the growth of the market during the forecast period.
The AIoT platform market scope is segmented on the basis of offering, solution type, industry vertical, end-user, and region. The report provides information on various offerings including solutions and services. In addition, it is categorized by different solution type such as device management, application management and connectivity management. Moreover, by end user, the market is classified into B2B, B2G and B2C. The details of the industry vertical namely BFSI, manufacturing, healthcare, retail, energy and utilities, transportation and logistics and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include Cisco Systems Inc., SAS Institute Inc., International Business Machines Corporation (IBM), Google LLC, Intel Corporation, SAP SE, Microsoft Corporation, Hewlett Packard Enterprise Development LP, Oracle Corporation, Tencent Cloud, Amazon Web Services Inc., NXP Semiconductors, Axiomtek Co., Ltd., Williot and Sharp Corporation (SHARP).
Key Benefits for StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aiot platform market analysis from 2023 to 2032 to identify the prevailing aiot platform market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the aiot platform market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global aiot platform market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy OfferingSolution
Services
By Solution TypeConnectivity Management
Device Management
Application Management
By Industry VerticalManufacturing
BFSI
Healthcare
Retail
Energy and Utilities
Transportation and Logistics
Others
By End UserB2B
B2G
B2C
By RegionNorth America
U.S.
Canada
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Southeast Asia
Rest of Asia-Pacific
LAMEA
Latin America
Turkey
Middle East
Africa
Key Market PlayersAmazon Web Services Inc.
Axiomtek Co., Ltd.
Cisco Systems Inc.
Google LLC
Hewlett Packard Enterprise Development LP
Intel Corporation
International Business Machines Corporation (IBM)
Microsoft Corporation
NXP Semiconductors
Oracle Corporation
SAP SE
SAS Institute Inc.
Sharp Corporation (SHARP)
Tencent Cloud
Williot