AI in IoT Market Analysis

The market is segmented by end-user into transportation, energy & utilities, BFSI, manufacturing, IT & telecom, retail, healthcare, and others, out of which, the manufacturing segment is anticipated to witness notable growth in the AI in IoT market on account of the growing emphasis of manufacturers to achieve fully automated data management systems. In addition, AI-enabled IoT applications are highly effective in managing production quality control and optimizing equipment performance, which is also predicted to boost the growth of the market segment in the future. Moreover, on the basis of component, the segment for software is expected to grow at the highest CAGR over the forecast period, which can be primarily credited to the large number of vendors in the market who provide AI in IoT software solutions to customers.

Our in-depth analysis of the global market includes the following segments:

By Technology

Machine Learning
Natural Language Processing
Image Processing
Speech Recognition

By Component

Platform
Software
Services

By End-User

Transportation
Energy & Utilities
BFSI
Manufacturing
IT & Telecom
Retail
Healthcare
Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of AI in IoT is assessed at USD 77.43 billion.

AI in IoT Market size was over USD 73.38 billion in 2023 and is projected to exceed USD 174.7 billion by 2036, growing at over 6.9% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by growing requirement to process large volumes of data generated from IoT devices and rising adoption of cloud among organizations.

North America is poised to hold largest revenue share by 2036, on the back of early adoption of innovative technologies, growing implementation of cloud among various end user industries, and increasing investments by public and private sectors to enhance AI and IoT technologies in the region.

The major players in the market are Google LLC, IBM Corporation, SAP Group, Microsoft Corporation, General Electric Company, and others.

AI in IoT Market Analysis