Europe AI In IoT Market Size, Share & Trends Analysis Report By Technology, By Component (Platform, Software, and Services), By Vertical, By Country and Growth Forecast, 2024 - 2031
The Europe AI In IoT Market would witness market growth of 24.1% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe AI in IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,252.6 million by 2031. The UK market is exhibiting a CAGR of 23.1% during (2024 - 2031). Additionally, The France market would experience a CAGR of 25.1% during (2024 - 2031).
The adoption of AI in IoT is rapidly accelerating as organizations and industries recognize the significant benefits of integrating AI with IoT technologies. AI enhances IoT by enabling real-time analysis of data generated by IoT devices.
Additionally, this capability is crucial for applications that require immediate insights and responses, such as smart city traffic management or industrial process optimization. AI algorithms excel in recognizing complex patterns and trends within IoT data that traditional data processing methods might miss. This allows for more accurate predictions and informed decision-making.
European enterprises are known for adopting and developing innovative use cases for IoT, such as smart manufacturing and Industry 4.0. AI in IoT helps optimize production processes, reduce downtime, and enhance product quality, driving demand for sophisticated AI solutions. According to Eurostat, in 2021, 29 % of EU enterprises used IoT devices, mostly to keep their premises secure. In 2021, the percentage of large enterprises using the Internet of Things was 48% compared with 26% for small enterprises.
Based on Technology, the market is segmented into Machine Learning & Deep Learning, and Natural Language Processing (NLP). Based on Component, the market is segmented into Platform, Software, and Services. Based on Vertical, the market is segmented into Manufacturing, Healthcare, BFSI, IT & Telecom, Retail & E-commerce, Energy & Utilities, Transportation & Logistics, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Salesforce, Inc.
- Softweb Solutions Inc.
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- SAP SE
- SAS Institute Inc.
- Hitachi Digital Services, LLC (Hitachi Ltd.)
- Oracle Corporation
- Google LLC
- PTC, Inc.
- IBM Corporation
- Cisco Systems, Inc.
- Microsoft Corporation
- Siemens AG
By Technology
- Machine Learning & Deep Learning
- Natural Language Processing (NLP)
- Platform
- Software
- Services
- Manufacturing
- Healthcare
- BFSI
- IT & Telecom
- Retail & E-commerce
- Energy & Utilities
- Transportation & Logistics
- Others
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe AI in IoT Market, by Technology
- 1.4.2 Europe AI in IoT Market, by Component
- 1.4.3 Europe AI in IoT Market, by Vertical
- 1.4.4 Europe AI in IoT Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Feb – 2024, Aug) Leading Players
- 4.5 Porter Five Forces Analysis
- Chapter 5. Europe AI in IoT Market by Technology
- 5.1 Europe Machine Learning & Deep Learning Market by Country
- 5.2 Europe Natural Language Processing (NLP) Market by Country
- Chapter 6. Europe AI in IoT Market by Component
- 6.1 Europe Platform Market by Country
- 6.2 Europe Software Market by Country
- 6.3 Europe Services Market by Country
- Chapter 7. Europe AI in IoT Market by Vertical
- 7.1 Europe Manufacturing Market by Country
- 7.2 Europe Healthcare Market by Country
- 7.3 Europe BFSI Market by Country
- 7.4 Europe IT & Telecom Market by Country
- 7.5 Europe Retail & E-commerce Market by Country
- 7.6 Europe Energy & Utilities Market by Country
- 7.7 Europe Transportation & Logistics Market by Country
- 7.8 Europe Others Market by Country
- Chapter 8. Europe AI in IoT Market by Country
- 8.1 Germany AI in IoT Market
- 8.1.1 Germany AI in IoT Market by Technology
- 8.1.2 Germany AI in IoT Market by Component
- 8.1.3 Germany AI in IoT Market by Vertical
- 8.2 UK AI in IoT Market
- 8.2.1 UK AI in IoT Market by Technology
- 8.2.2 UK AI in IoT Market by Component
- 8.2.3 UK AI in IoT Market by Vertical
- 8.3 France AI in IoT Market
- 8.3.1 France AI in IoT Market by Technology
- 8.3.2 France AI in IoT Market by Component
- 8.3.3 France AI in IoT Market by Vertical
- 8.4 Russia AI in IoT Market
- 8.4.1 Russia AI in IoT Market by Technology
- 8.4.2 Russia AI in IoT Market by Component
- 8.4.3 Russia AI in IoT Market by Vertical
- 8.5 Spain AI in IoT Market
- 8.5.1 Spain AI in IoT Market by Technology
- 8.5.2 Spain AI in IoT Market by Component
- 8.5.3 Spain AI in IoT Market by Vertical
- 8.6 Italy AI in IoT Market
- 8.6.1 Italy AI in IoT Market by Technology
- 8.6.2 Italy AI in IoT Market by Component
- 8.6.3 Italy AI in IoT Market by Vertical
- 8.7 Rest of Europe AI in IoT Market
- 8.7.1 Rest of Europe AI in IoT Market by Technology
- 8.7.2 Rest of Europe AI in IoT Market by Component
- 8.7.3 Rest of Europe AI in IoT Market by Vertical
- Chapter 9. Company Profiles
- 9.1 Salesforce, Inc.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.6 SWOT Analysis
- 9.2 Softweb Solutions Inc.
- 9.2.1 Company Overview
- 9.2.2 Recent strategies and developments:
- 9.2.2.1 Product Launches and Product Expansions:
- 9.2.3 SWOT Analysis
- 9.3 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental Analysis
- 9.3.4 Recent strategies and developments:
- 9.3.4.1 Partnerships, Collaborations, and Agreements:
- 9.3.5 SWOT Analysis
- 9.4 SAP SE
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Partnerships, Collaborations, and Agreements:
- 9.4.5.2 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 SAS Institute, Inc.
- 9.5.1 Company Overview
- 9.5.2 Recent strategies and developments:
- 9.5.2.1 Partnerships, Collaborations, and Agreements:
- 9.5.2.2 Product Launches and Product Expansions:
- 9.5.3 SWOT Analysis
- 9.6 Hitachi Digital Services, LLC (Hitachi Ltd.)
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.6 SWOT Analysis
- 9.7 Oracle Corporation
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.7.6 SWOT Analysis
- 9.8 Google LLC (Alphabet Inc.)
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.6 SWOT Analysis
- 9.9 PTC, Inc.
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.5.2 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
- 9.10. IBM Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Regional & Segmental Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.5.2 Acquisition and Mergers:
- 9.10.6 SWOT Analysis
- 9.11 Cisco Systems, Inc.
- 9.11.1 Company Overview
- 9.11.2 Financial Analysis
- 9.11.3 Regional Analysis
- 9.11.4 Research & Development Expense
- 9.11.5 Recent strategies and developments:
- 9.11.5.1 Partnerships, Collaborations, and Agreements:
- 9.11.5.2 Acquisition and Mergers:
- 9.11.6 SWOT Analysis
- 9.12 Microsoft Corporation
- 9.12.1 Company Overview
- 9.12.2 Financial Analysis
- 9.12.3 Segmental and Regional Analysis
- 9.12.4 Research & Development Expenses
- 9.12.5 Recent strategies and developments:
- 9.12.5.1 Partnerships, Collaborations, and Agreements:
- 9.12.5.2 Acquisition and Mergers:
- 9.12.6 SWOT Analysis
- 9.13 Siemens AG
- 9.13.1 Company Overview
- 9.13.2 Financial Analysis
- 9.13.3 Segmental and Regional Analysis
- 9.13.4 Research & Development Expense
- 9.13.5 Recent strategies and developments:
- 9.13.5.1 Partnerships, Collaborations, and Agreements:
- 9.13.5.2 Product Launches and Product Expansions:
- 9.13.5.3 Acquisition and Mergers:
- 9.13.6 SWOT Analysis
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