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AI in IoT Market Trends

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Report ID: 3317
Published Date: Aug 29, 2024
Report Format: PDF, PPT

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AI in IoT Market Trends

Growth Drivers

Growing Requirement to Process Large Volumes of Data Generated from IoT Devices
Rising Adoption of Cloud Among Organizations

Challenges

Lack of Skilled Professionals
Concerns Related to Data Security

AI in IoT Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	6.9%
Base Year Market Size (2023)	USD 73.38 billion
Forecast Year Market Size (2036)	USD 174.7 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

AI in IoT Market Size & Share, Growth Trends 2036

Author Credits: Abhishek Verma

Report ID: 3317
Published Date: Aug 29, 2024
Report Format: PDF, PPT

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.

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