Global Artificial Intelligence of Things (AIoT) Market is valued at USD 15.04 Billion in 2021 and expected to reach USD 144.07 Billion by 2028 with a CAGR of 38.1% over the forecast period.
Global Artificial Intelligence of Things (AIoT) Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Its growing adoption in various business application and various advantages offered by artificial intelligence of things (AIoT) are some of the major factors expected to drive the growth of Global Artificial Intelligence of Things (AIoT) market.
The Artificial Intelligence of Things (AIoT) is combination of internet of things and artificial intelligence to perform IoT based operation more efficiently. AIoT helps to improve decision-making processes, data management, human-machine interaction and analytics operation with technologies like IoT Data as a Service (IoTDaaS). IoT creates the data, and AI analyzes them to provide meaningful insights and, accordingly, the desired behavior or action necessary to enhance efficiency and productivity.
During the Covid-19, many business are shifted towards work from home business model. The growth of artificial intelligence of things market has limited to crucial product manufacturing companies because other technology-based service companies operate their business on digital platforms. The urge for Artificial intelligence of things (AIoT) solutions is increasing during COVID-19; internet of Things (IoT) is one of the most effective factor in the intelligent world, in which the technology of artificial intelligence (AI), like cloud computing and big data analysis, is having a crucial role in blocking the spread of the pandemic of Covid-19.
The Global Artificial Intelligence of Things (AIoT) market is segmented on the basis of component, deployment, industry and region & country level. On the basis of component, the global artificial intelligence of things (AIoT) market is classified as hardware, software and services. The service segment is subdivided into professional and managed. On the basis of deployment, the global market is classified as cloud based and on-premises. On the basis of industry, the global artificial intelligence of things (AIoT) market is classified as BFSI, automobile, healthcare, government, manufacturing, IT & telecom and others.
The regions covered in Global Artificial Intelligence of Things (AIoT) market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of Global Artificial Intelligence of Things (AIoT) is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Artificial Intelligence of Things (AIoT) Market report covers prominent players like
On February 11th, 2022; AP Memory Technology Corporation, one of the world's leading suppliers of ultra-low power and low pin count PSRAM (IoT RAM), low density LPDRAM and an emerging supplier of AI memory solutions for edge / IoT applications, collaborated with Synopsys to deliver optimized and scalable RAM memory solutions for next generation IoT applications and devices. The solution delivers validated interoperability between the AP Memory's IoT RAM and Synopsys' DesignWare Synchronous Serial Interface (SSI) IP. The Synopsys DesignWare IP offers high transfer rate and low latency in serial memories for IoT and mobile applications. Future collaborations will extend the solution to support even lower power, low pin count solutions such as 1.2V I/O IoT RAM (OPI and HPI), as well as AIOT RAM (15pins - 2.1GB/s). AIoT RAM supports the low pin count of IoT RAM with higher performance (~5x bandwidth) and lower active power, targeting Edge AI applications.
On February 10th, 2022; The Intel Atom x6000E Series and Intel Pentium and Celeron N and J Series processors are designed for edge Internet of Things (IoT), artificial Intelligence of things (AIoT), and computer vision applications. Offering up to 4 cores, low power and excellent performance/watt ratio, these processors boast up to 40% faster CPU and 2x 3D graphics performance when compared to Intel's previous generation. Additionally, Intel Atom x6000E Series processors provide critical features for embedded and industrial devices such as industrial temperature range, time coordinated computing, time sensitive networking, and functional safety for fail-safe device operation.
On January 17th, 2022; Origin Wireless and nami.ai introduced a new AIoT platform which uses Wi-Fi access points to bring sensing capabilities to the smallest of smart devices, allowing them to differentiate among humans, pets, robot vacuums, pets and appliances. Origin’s Wi-Fi sensing software uses AI to track Wi-Fi radio waves. As the waves encounter people, walls and objects, they set off sensors in the software enabling the edge-hosted platform to detect important events, for instance when a person falls over and any effect on their breathing rate. The partnership was first announced last month but it didn’t have a product name until now. It aims to offer companies and brands a unified solution to deploy Wi-Fi sensing in new products, combining intelligent AI algorithms, software and hardware.
October 7th, 2021; The hub focuses on research in AIOT technologies, including AI-enabled video analytics, sensor-embedded edge computing for optimized data fusion and transmission and industrial digital twin technology. The hub also focuses on best practice design of artificial intelligence (AI)/machine learning- (ML) enabled data collection and management; problem-driven approach through engagement with end-users; best practice cyber security for AIOT and system interoperability and sustainability to avoid technological lock-in issues. Once established, the hub will also aim to improve AIOT technology adoption and attracting and retaining a skilled workforce in AI and IoT technologies. It will also develop a regional ecosystem of innovative small to medium enterprises focused on AIOT products and services.
The adoption of AIoT in industrial sectors is one of the major factors driving the market growth. Many industries are adopting this technology including oil and gas, chemical industry and many others. The adoption of this technology in many industries is due to the high value asset, large volumes of operation data and processes which rely on hundreds of parameters which leads to drive the global artificial intelligence of things market. Some of the common industrial AIoT applications are maintenance, predictive quality control, detect fault, and many others. In a manufacturing sector, AIoT authorizes devices and software to link with other AIoT devices, such as smart sensors, smart gateways, and local servers. Additionally the AI is located at the center of an IoT system, different tasks such as predictive analysis and abnormalities in the machineries which affect to machine breakdown can be detected by using this device. From the data collection from the devices to data analytics can be drawn through this machine operation, which helps to predict, this helps the user to take certain decision to avoid difficult situations and therefore it helps to contribute to smooth operations. There are many software tools which are available for industrial AIoT. By using AIoT, the machine can learn and act accordingly, by sending external data to report the progress of activities. This makes the process more smooth and the machines themselves can improve their performance during normal operation and achieve their maximum throughput.
Increasing demand for IoT with combination with AI technologies to improve the decision making process of a company and adoption of edge analytics solutions is also expected to supplement the growth of the market. The combination of IoT and AI, allows decisions to be made by the different devices which make up the IoT network. Which is the decisions made at the end of the system, at the edge, implementing what is known as Edge Computing. At the Edge computing the microcontroller are combined with vast array of sensors to permit high level of processing to occur and decision to be made locally. This improves the decision making process more easily. Features of AIoT such as data analysis, big data analytics, and analytical model management is also expected to drive the growth of the market.
However, the lack of skilled workforce and unawareness about new technologies expected to restrain the growth of the Artificial Intelligence of Things (AIoT) market. In spite of that, growing adoption of connected devices with AI technologies in many industries are expected to generate more revenue opportunities for solution providers in this market.
North America is expected to dominate the growth of global artificial intelligence of things (AIoT) market due to the increasing adoption of artificial intelligence of things (AIoT) by manufacturing and automobile industries and additionally the presence of major solution providers in this region. The major manufacturing industries in North America are food, beverage and tobacco manufacturing industry where it contains around USD 269700 shares, after that motor vehicle and parts, fabricated metal products, machinery and many other such industries. Many of these industries have adopted AIoT technology.
Europe is the second largest region in the global artificial intelligence of things (AIoT) market due to the presence of key players who provide this software such as Innovation Hub, Fujitsu Ltd, Analog Devices, AIoT Canada, Advantech and many others in this region. The companies in this region focuses primarily on projects which span the entire value chain, AIoT and also provides global thinking such as data security, eco-consistency, or the development of regional IoT platforms to repatriate control, security and governance of critical data of companies. This leads to increase the demand for artificial intelligence of things in this region.
The artificial Intelligence of Things (AIoT) market in Asia Pacific is expected to show fastest growth due to the increasing adoption of technologically advanced software solutions to perform many business operations to lower the enterprise expenses. In this China, Japan, Korea, India are the region were AIoT is highly used.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 15.04 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 144.07 Billion|
|Tables, Charts & Figures:||175|
|AIoT Companies||AIBrain Inc., Brighterion, Inc., Cisco Systems, Inc., Echelon Corporation, Fujitsu Ltd., General Vision Inc., The Hewlett Packard Enterprise Company, Microsoft Corporation. and others.|
|Segments Covered||By Component, By Deployment, By Industry|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|