Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "AIoT Platform Market 2024 Edition: Market Size, Trends, Opportunities and Forecast by End-User, Solution Type, Offering Type, Region, and Country: 2020-2030" report has been added to ResearchAndMarkets.com's offering.
This report highlights different factors and opportunities prevailing in the AIoT Platform market. According to the report, the Global AIoT Platform Market was valued at USD 4.8 Billion in 2023, and is expected to grow at a CAGR of 38.6% during 2025-2030.
Americas represent the largest market for AIoT Platforms in value terms, driven by the advanced technology infrastructure, high adoption of IoT devices, and significant investments in AI and IoT research and development. The United States, in particular, is a key market due to its strong focus on technological innovation and extensive deployment of AIoT solutions.
In the Americas, the market is further bolstered by favorable government policies, increasing investments in digital transformation, and a strong focus on early adoption of advanced AIoT solutions. The presence of leading technology companies and a high level of awareness about the benefits of AIoT platforms contribute to the market's dominance in this region.
The Asia Pacific region is expected to witness the highest growth rate due to rapid industrialization, increasing adoption of smart devices, and growing investments in AI and IoT technologies. Countries like China, India, and Japan are at the forefront of this growth, with expanding technology infrastructure and a growing focus on innovation.
Global Market Insights
The market has witnessed significant growth in recent years, driven by the convergence of AI and IoT technologies, increasing adoption of smart devices, and the demand for advanced analytics and automation. AIoT platforms integrate AI capabilities with IoT infrastructure to enhance data analysis, decision-making, and automation processes. The market's expansion is primarily fueled by the need for intelligent and connected systems across various industries such as manufacturing, healthcare, and transportation.
One of the primary drivers of the AIoT Platform market is the growing adoption of IoT devices and the increasing volume of data generated by these devices. AIoT platforms enable businesses to harness this data, extract valuable insights, and improve operational efficiency. The demand for real-time analytics, predictive maintenance, and automated decision-making is driving the adoption of AIoT platforms.
Technological advancements have significantly impacted the AIoT Platform market, leading to the development of innovative solutions that combine AI and IoT technologies. These advancements include edge computing, 5G connectivity, and advanced machine learning algorithms, which enhance the performance and capabilities of AIoT platforms. The integration of these technologies is crucial for addressing the complex challenges of managing and analyzing vast amounts of IoT data.
The increasing focus on digital transformation and Industry 4.0 initiatives has also played a crucial role in the market's expansion. Businesses across various sectors are investing in AIoT platforms to modernize their operations, improve efficiency, and gain a competitive edge. The adoption of AIoT solutions is driven by the need for automation, improved decision-making, and enhanced customer experiences.
Sustainability trends are influencing the AIoT Platform market as well. Companies are increasingly focusing on developing energy-efficient and sustainable AIoT solutions that minimize the environmental impact of connected devices and infrastructure. This shift is driven by regulatory pressures and a growing awareness of environmental sustainability within the technology industry.
Market Segmentation
By End-user
- BFSI
- Healthcare
- Energy & Utilities
- Retail & e-Commerce
- Other End-users
By Solution Type
- Application Management
- Connectivity Management
- Device Management
- Other Solution Types
By Offering Type
- Solutions
- Services
By Geography
- Americas (The United States, Canada, Brazil, Mexico, Rest of Americas)
- Europe (United Kingdom, Germany, France, Italy, Spain, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Singapore, Indonesia, Rest of Asia-Pacific)
- Middle East and Africa (GCC, Israel, South Africa, Rest of Middle East and Africa)
Key Companies
The report assesses the competitive developments, strategies, mergers and acquisitions and new product development and market share portfolio of top 15 companies. Key companies in the Global AIoT Platform Market include:
- Intel Corporation
- Microsoft Corporation
- SAS Institute Inc.
- Cisco Systems
- Hewlett Packard Enterprise
- Oracle Corporation
- International Business Machines Corporation
- Google LLC
- SAP SE
- Tencent Cloud
For more information about this report visit https://www.researchandmarkets.com/r/s9guhn
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