AI in IoT Market Share

On the basis of geographical analysis, the AI in IoT market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the 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. Apart from these, the strong presence of prominent market players is also expected to be a major growth driver for the region’s market in the coming years. Additionally, the market in Asia Pacific is projected to witness noteworthy growth during the forecast period owing to the surging developments in the IT & telecom sector in emerging economies such as India and China, and rise in geographical presence of major AI and IoT companies in the region. For instance, it is estimated that by the end of 2037, more than 165 million jobs will be created by AI and other related technologies in China, out of which almost 95 million jobs will be created in the service sector.