Global Artificial Intelligence (AI) in IoT Market to Reach $79.5 Billion by 2030
The global market for Artificial Intelligence (AI) in IoT estimated at US$19 Billion in the year 2023, is expected to reach US$79.5 Billion by 2030, growing at a CAGR of 22.7% over the analysis period 2023-2030. AI Platforms, one of the segments analyzed in the report, is expected to record a 20.6% CAGR and reach US$29 Billion by the end of the analysis period. Growth in the AI Software Solutions segment is estimated at 25.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6 Billion, While China is Forecast to Grow at 22.2% CAGR
The Artificial Intelligence (AI) in IoT market in the U.S. is estimated at US$6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.8 Billion by the year 2030 trailing a CAGR of 22.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.9% and 19.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 15.9% CAGR.
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