Artificial Intelligence of Things [AIoT] Market Size, Share, By Component, Deployment, Application, Industry, and Region - Trends, Analysis, and Forecast till 2035

Artificial Intelligence of Things [AIoT] Market Size, Share, By Component, Deployment, Application, Industry, and Region - Trends, Analysis, and Forecast till 2035

Artificial intelligence of things [AIoT] represents the convergence of artificial intelligence (AI) with the internet of things (IoT), enabling smarter, more efficient systems through intelligent decision making and automation. The target market is experiencing significant growth as industries increasingly adopt intelligent connected systems to enhance efficiency and customer experiences.

Report Highlights:

• In 2024, the artificial intelligence of things [AIoT] market size is expected to increase at a rate of USD 170.6 billion.
• By 2035, the target market was worth USD 18.37 billion.
• The market is expanding at a CAGR of 27.7%.
• North America held the largest share of the market in 2024.
• Asia Pacific is expected to be the fastest-growing market during the forecast period.
• By component, the hardware segment is expected to lead the market during the forecast period.
• On the basis of deployment, the cloud-based segment is projected to hold the largest artificial intelligence of things [AIoT] market share during the forecast period.
• Based on application, the market is being dominated by the video surveillance application segment.
• The manufacturing industry segment is expected to lead the market during the projected period.

Key Highlights:

• In December 2024, Tapway, a developer of Vision AI software solutions and Asteria Corporation launched AIoT Suite, an integrated one-stop solution platform offering Tapway’s SamurAI Vision AI software and Asteria’s Gravio no-code IoT software. The new AIoT Suite platform enable companies to automate various tasks, such as quality inspection production lines, PPE compliance enforcement, health, safety, and environment (HSE) monitoring at warehouses, and more.
• In July 2024, Xiaomi India is set to launch a range of products across its portfolio. This launch will feature the 5G Star-Redmi 13 5G, and an impressive new AIoT lineup, including the Redmi Buds 5C, Xiaomi RVC X10, and Xiaomi Pocket Power Bank 10000mAh and Xiaomi Power Bank 4i 10000mAh.
• In February 2024, Xiaomi unveiled its Human x Car x Home platform at MWC Barcelona 2024, as the company steps up efforts to redefine the boundaries of technology integration by seamlessly meeting all user needs within one smart ecosystem. Xiaomi’s transition from Smartphone x AIoT to its new Human x Car x Home ecosystem merges personal devices, smart home products and cars, not only providing seamless connectivity of devices, but offering real-time coordination and collaboration with industry partners.

Report Analysis:

Artificial Intelligence of Things (AIoT) for Smart Agriculture:

For instance, according to the recent research report by Elsevier B.V., in August 2024, the Artificial Intelligence of Things (AIoT), a combination of the Internet of Things (IoT) and Artificial Intelligence (AI), plays an increasingly important role in smart agriculture (SA). AIoT has been adopted in many applications including agriculture, such as crop yield estimation, soil and water conservation, pest and disease detection and supply chain management.

Agriculture 1.0 began with indigenous farming implements, followed by Agriculture 2.0 with fertilisers and tractors, Agriculture 3.0 with the introduction of monitoring and decision systems, and Agriculture 4.0 with the implementation of smart farming (SA) with automation and embedded decision systems.

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Artificial Intelligence of Things [AIoT] Market Competitive Landscape:

The major players operating in the market are IBM, Cisco, Amazon Web Services, Inc., Google, Microsoft, Oracle, Hewlett Packard Enterprise Development LP, Intel, Hitachi, SAP, m’AI Touch Technology Co., Ltd., Moon Innovations, easemyai, Aritium Technologies, and iCHASE.