IoT Artificial Intelligence Market Size Worth $24.1 billion By 2030: IndustryARC

Global IoT Artificial Intelligence Market size is predicted to reach $24.1 billion by 2030, growing at a CAGR of 37.7 % during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. AIoT Enhanced by Edge Computing and The Increasing Demand for Smart Devices propel the market growth, finds IndustryARC in its recent report, titled “IoT Artificial Intelligence Market – By Offering (Solutions (Device Management, Application Management, Connectivity Management), Services (Professional Services, Managed Services)), By Deployment (On-Premises, Cloud), By Industry Vertical (BFSI, Manufacturing, Healthcare, Energy & Utilities, Retail, Transportation & Logistics and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”

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Europe to Register Highest Growth:

In 2023, the AI in IoT market in Europe demonstrated a robust market presence, largely attributable to substantial government investments and a thriving ecosystem for vendors. This investment has created a fertile ground for growth, with ample opportunities for expansion and innovation. The region benefits from a strong presence of major players, whose contributions further bolster the AI in IoT sector’s development. Germany emerged as the leader in the market, holding the largest share due to its advanced technological infrastructure, strong industrial base, and significant investment in AI-driven IoT solutions. Meanwhile, the UK experienced the most rapid growth, driven by its vibrant tech ecosystem, increasing adoption of AI technologies, and supportive government policies that encourage innovation and investment in IoT applications.

IoT Artificial Intelligence Market 2023-2030: Scope of the Report

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IoT Artificial Intelligence Market Report – Key Takeaways:

• The services segment held the largest share in the IoT Artificial Intelligence market

The services segment experienced the fastest growth during the forecast period, reflecting the increasing recognition by enterprises of the importance of professional guidance to maximize the benefits of AIoT implementations. Consulting services play a crucial role in helping organizations navigate the complexities of AIoT integration, develop tailored strategies, and select the most suitable platforms for their needs. Additionally, implementation and integration services are vital in ensuring that AIoT solutions are seamlessly incorporated into existing workflows and infrastructure, leading to a smooth deployment process. As AIoT technologies continue to evolve rapidly, ongoing support and maintenance services are essential for organizations to optimize performance, address emerging challenges, and leverage new features.

• The healthcare segment held the largest share in the IoT Artificial Intelligence market

The healthcare segment is expected to hold the largest share of the IoT Artificial Intelligence Market during the forecast period. This dominance is driven by the convergence of AI and IoT technologies, which are revolutionizing patient care, healthcare delivery, and operational efficiency. AIoT systems enable healthcare providers to enhance patient outcomes, streamline processes, and utilize resources more effectively. IoT devices in clinical settings, such as medical equipment, wearable sensors, and remote monitoring devices, generate vast amounts of data. AI algorithms, integrated into healthcare-specific platforms, analyze this data in real-time, enabling remote patient monitoring, personalized treatment recommendations, and early disease detection. Furthermore, AIoT technologies help healthcare organizations optimize workflows, manage resources more efficiently, and improve operational processes. Predictive analytics algorithms can optimize staff scheduling, forecast patient admissions, and allocate medical supplies, ultimately reducing costs and boosting operational efficiency.

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Key Opportunity Analysis:

Enhanced Predictive Maintenance and Operational Efficiency

AIoT enables predictive maintenance by analyzing data from connected devices and sensors to predict equipment failures before they occur. This helps businesses reduce downtime, optimize maintenance schedules, and extend the lifespan of machinery. The ability to foresee issues and respond proactively not only minimizes operational disruptions but also leads to significant cost savings.

Personalized Healthcare and Remote Monitoring

The combination of AI and IoT is revolutionizing healthcare by enabling personalized treatment and remote patient monitoring. AIoT solutions can analyze data from wearable devices, medical sensors, and health apps to deliver tailored healthcare recommendations, monitor chronic conditions in real time, and even predict potential health issues. This opportunity enhances patient outcomes, reduces the burden on healthcare facilities, and expands access to medical services, particularly in remote or underserved areas.

Advanced Supply Chain Optimization

AIoT can significantly enhance supply chain management by providing real-time visibility and analytics across the entire supply chain. By integrating AI with IoT sensors and devices, businesses can monitor inventory levels, track shipments, predict demand, and optimize logistics. This leads to reduced waste, lower transportation costs, improved inventory management, and a more responsive supply chain that can adapt quickly to market changes and disruptions.

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The report also covers the following areas:

• IoT Artificial Intelligence Market Size and Forecast
• IoT Artificial Intelligence Market Trends
• IoT Artificial Intelligence Market Analysis by Product Type

IoT Artificial Intelligence Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• IoT Artificial Intelligence Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the IoT Artificial Intelligence Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic accelerated the adoption of IoT and AI technologies across various industries as organizations sought to adapt to the challenges posed by the crisis. The need for remote operations, real-time monitoring, and data-driven decision-making became more critical than ever. In healthcare, AIoT systems were rapidly deployed for remote patient monitoring, contact tracing, and managing the influx of patients in hospitals. In manufacturing and supply chain management, AIoT technologies were utilized to maintain operations despite workforce disruptions, enabling predictive maintenance, and optimizing supply chain logistics. The pandemic also highlighted the importance of resilience and flexibility, driving demand for AIoT solutions that can help organizations respond swiftly to unforeseen challenges. However, supply chain disruptions and budget constraints during the pandemic posed challenges to the deployment of new AIoT projects, particularly in industries hit hardest by the economic downturn.

• The ongoing Ukrainian crisis has had a multifaceted impact on the IoT Artificial Intelligence market. On one hand, geopolitical instability and economic sanctions have created uncertainty in global supply chains, particularly for semiconductor components and other critical technologies essential for AIoT systems. This has led to supply chain bottlenecks, increased costs, and delays in the production and deployment of IoT and AI solutions. On the other hand, the crisis has underscored the need for advanced security measures, driving demand for AIoT technologies that enhance cybersecurity and safeguard critical infrastructure. Industries such as energy, transportation, and defense are increasingly relying on AIoT systems for real-time monitoring, threat detection, and resilience in the face of geopolitical tensions. Additionally, the crisis has accelerated the adoption of AIoT in remote and harsh environments, where traditional human intervention may be limited due to safety concerns.

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 List of Key Market Players in the IoT Artificial Intelligence Market:

The Global IoT Artificial Intelligence Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• IBM
• Google LLC
• Microsoft Corporation
• Oracle Corporation
• AWS Inc.
• Intel Corporation
• SAP SE
• Cisco Systems Inc.
• NXP Semiconductors Inc.
• Axiom Technologies Group

Related Reports:

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IoT Cloud Platform Market: increasing number of IoT devices in various application sectors is one of the primary factors driving the growth of the IoT cloud platform market.

Data Management Platform Market: increasing development in the advertising industry is promoting the usage of TV data management platform for collecting data and understanding the targeted audience.

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