26-Aug-2019 | Zion Market Research
Zion Market Research has published a new report titled “AI in IoT Market By Component (Services, Platforms, and Software Solutions), By Technology (Natural Language Processing and ML & Deep Learning), and By Vertical (Energy & Utilities, Manufacturing, Government & Defense, BFSI, Healthcare, Retail, Transportation & Mobility, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global AI in IoT market was USD 4 billion in 2018 and is expected to reach around USD 19.9 billion by 2025, at a CAGR approximately 25.89% for the forecast period between 2019 and 2025.
Internet of Things (IoT) is a growing network of objects that has its own IP address to connect to the internet along with the communication between these physical objects. The AI in IoT market is gaining acceptance globally, owing to its rising demand by industrial sectors, enterprises, companies, and business that have already implemented or are in the process of implementing AI in IoT to efficiently manage work. AI is playing a vital role in IoT as the former has secured its place in numerous sectors, such as vision sensors, to identify accuracy, product orientation, and enhanced process flow by decreasing waste and removing defective products. Moreover, the rising demand for road safety, growing concerns for new infrastructure and devices, such as sensors and video camera to monitor drivers’ behavior and driving patterns to find the cause of road accidents. In addition, mobile network providers are making huge investments and working on enhancing their broadband speed along with the rising number of government initiatives to increase the AI in IoT penetration in the automotive sector, which will also contribute to the AI in IoT market.
Browse the full “AI in IoT Market By Component (Services, Platforms, and Software Solutions), By Technology (Natural Language Processing and ML & Deep Learning), and By Vertical (Energy & Utilities, Manufacturing, Government & Defense, BFSI, Healthcare, Retail, Transportation & Mobility, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/ai-in-iot-market
By component, the AI in IoT market is fragmented into platforms, services (professional and managed), and software solutions. Services will hold a noteworthy share over the forecast period. Professional services are expected to grow at a substantial rate, owing to their rising demand in the transportation and logistics sector. By vertical, the market is divided into energy and utilities, government and defense, BFSI, retail, healthcare, transportation and mobility, manufacturing, and others. Manufacturing and energy and utilities will hold a significant market share over the forecast time period. The rising need to track, diagnose, automate processes, and optimize inventory for enhanced customer experience in the manufacturing industry is likely to drive this segment’s market.
North America is likely to witness notable growth in the AI in IoT market globally, owing to the early adoption of industry 4.0 and IoT in various industries. Moreover, the region is focusing on implementing IoT in factories to upgrade existing factories to smart factories. Major investments are being made by public and private sectors to enhance the IoT and AI sector, which is expected to further the region’s AI in IoT market growth. Additionally, the rising concerns related to life and property insurance will also to support this regional market.
Some noticeable players of the AI in IoT market are Microsoft, Google, AWS, IBM, SAP, Oracle, GE, PTC, Hitachi, Salesforce, SAS, and Uptake.
This report segments the global AI in IoT market into:
Global AI in IoT Market: Component Analysis
Global AI in IoT Market: Technology Analysis
Global AI in IoT Market: Vertical Analysis
Global AI in IoT Market: By Region
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