AIoT Platforms Market- Size, Share | Industry Trend & Forecast 2030

AIoT Platforms Market Overview

The AIoT Platforms Market size is estimated to reach US$24.1 billion by 2030 after growing at a CAGR of 37.7% from 2024 to 2030.The market for AIoT (Artificial Intelligence of Things) platforms includes hardware and software products that combine AI capabilities with equipment and infrastructure for the Internet of Things. These platforms make it possible to use AI algorithms and methodologies for the gathering, processing, analysis, and interpretation of data produced by IoT devices. The foundation for utilizing AI and IoT technologies to generate actionable insights, optimize operations, automate processes, and improve decision-making in a variety of industries, including manufacturing, healthcare, smart cities, agriculture, transportation, and more, is provided by AIoT platforms.

AIoT platforms are processing data closer to the source, lowering latency and bandwidth needs, by progressively integrating edge computing capabilities. This approach fosters responsive and efficient systems by optimizing resource consumption in distributed IoT contexts, enhancing privacy by limiting data transfer, and enabling real-time decision-making. The market for AIoT platforms is seeing a transition toward vertically specific solutions made to meet the particular needs of many industries, including smart cities, manufacturing, healthcare, and agriculture. By providing pre-built modules, industry-specific algorithms, and domain expertise, these solutions speed up deployment and provide tailored results for certain use cases, encouraging adoption and giving businesses real value.

Market Snapshot :

AIoT Platforms Market Report Coverage

The report: “AIoT Platforms Market– Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Bioadhesives Industry.
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: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

Key Takeaways

• Services platforms would experience the fastest growth during forecast period. These platforms offer comprehensive services tailored to the unique needs of businesses seeking to implement AIoT solutions.
• North America holds the largest market share in AIoT platforms market owing to increasing adoption of AIoT by end-user industries such as manufacturing and automotive industries.
• The ability to leverage this data to derive actionable insights and empower enterprises to make data-driven decisions is what fuels demand for AIoT systems.

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AIoT Platforms Market Segment Analysis – By Offering

The services segment registered the fastest growth during the forecast period. The increase in service demand is indicative of enterprises realizing how crucial it is to have professional advice and assistance in order to get the most out of AIoT implementations. Consulting services are essential for assisting firms in navigating the challenges of integrating AIoT, creating customized strategies, and determining which platforms are best for their requirements. Furthermore, by facilitating a smooth deployment process, implementation and integration services guarantee that AIoT solutions are successfully incorporated into current workflows and infrastructure. Organizations need constant support and maintenance as AIoT technologies continue to advance quickly in order to maximize performance, handle new issues, and take advantage of new features.

AIoT Platforms Market Segment Analysis – By Industry Vertical

Healthcare segment will hold the largest share in the AIoT Platforms Market during the forecast period. The convergence of AI and IoT technologies, which are transforming patient care, healthcare delivery, and operational efficiency, is what is causing this domination. Healthcare practitioners can improve patient outcomes, streamline procedures, and make better use of resources with the help of AIoT systems. Large volumes of data are produced in clinical settings by Internet of Things devices such medical equipment, wearable sensors, and remote monitoring devices. Real-time analysis of this data by AI algorithms built into platforms tailored to the healthcare industry allows for remote patient monitoring, tailored treatment suggestions, and early disease identification. Healthcare firms can improve workflows, manage resources more effectively, and optimize operational processes with the help of AIoT technologies. Algorithms for predictive analytics can optimize staff scheduling, predict patient admissions, and distribute medical supplies, all of which reduce costs and enhance operational efficiency.

AIoT Platforms Market Segment Analysis – By Geography

North America held the largest share in the global AIoT Platforms Market. This dominance is supported by a number of elements that together establish the area as a hub for AIoT adoption and innovation. North America is home to a thriving ecosystem of startups, academic institutions, and tech companies leading the way in AI and IoT development. Global talent and investment are drawn to major tech areas like Silicon Valley in California and the Boston-Cambridge region in Massachusetts, which act as incubators for innovative AIoT solutions. The region's cutting-edge infrastructure, which includes widespread access to 5G networks and high-speed internet connectivity, fosters the growth of IoT devices and data-intensive apps. Real-time insights and actions are made possible by this infrastructure, which facilitates the seamless integration and data transmission between IoT devices and AIoT platforms.

AIoT Platforms Market Drivers

Edge Computing Powered AIoT

Utilizing edge computing By bringing data processing and analytics closer to the point of data collection, artificial intelligence (AIoT) offers a revolutionary method that allows for real-time insights, decreased latency, and effective resource use. Organizations can reduce the amount of data they must transport to centralized cloud servers by processing and analyzing data locally by implementing AI algorithms directly on edge devices or gateways. This distributed computing paradigm lessens network congestion and bandwidth restrictions while also improving the responsiveness of AIoT applications, especially in settings with strict latency requirements or poor connectivity. AIoT systems driven by edge computing provide several unique features that are applicable to a variety of industries. By evaluating sensor data in real-time on the factory floor, edge AI, for instance, makes predictive maintenance, quality control, and process optimization possible in the manufacturing industry.

The Surge in Demand for Smart Devices

The amount of data created at the edge is growing exponentially as more and more wearables, smart speakers, connected appliances, smartphones, and industrial sensors are being used. The increased use of smart devices generates a large amount of data that can be gathered and examined using AIoT platforms to provide insightful analysis and facilitate wise decision-making. Smart devices are becoming more and more popular among consumers because of their efficiency, convenience, and capacity to improve daily life. Through the smooth collection of data on user preferences, activity patterns, surroundings, and other topics, these devices open up new possibilities for automated controls, tailored services, and predictive recommendations. Furthermore, the use of IoT sensors and smart devices in industrial settings is propelling the digitization and automation of operations in the fields of manufacturing, logistics, energy, and more.

AIoT Platforms Market Challenges

Security and Compatability Issues

Cyber threats and vulnerabilities have a larger potential attack surface as the number of connected devices and data sources increases. Safeguarding confidential data and upholding stakeholder trust in AIoT ecosystems necessitates ensuring the security and integrity of data transferred and processed. The wide range of IoT devices, protocols, and standards used in many sectors and applications causes compatibility problems. Technical difficulties including data interoperability, protocol translation, and complicated device management arise when integrating heterogeneous systems and devices into coherent AIoT platforms. Mismatched hardware and software components can impede smooth data transmission, interoperability, and communication, which reduces the efficacy and efficiency of AIoT implementations.

Bioadhesives Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies which are adopted by the dominant players in this market. Bioadhesives top 10 companies include:

1. IBM 
2. Google LLC 
3. Microsoft Corporation 
4. Oracle Corporatio
5. Intel Corporation 
6. SAP SE
7. Cisco Systems Inc.
8. NXP Semiconductors Inc.
9. Axiom Technologies Group 

Acquisitions/Technology Launches

• In April 2023, Oracle Unveils New AI and Automation Features to Assist Clients with Supply Chain Management Optimization. The Oracle Fusion Cloud Applications Suite now offers additional features that speed up supply chain planning, boost operational effectiveness, and enhance financial accuracy for users.
• In June 2022,  the new AIoT Device Management Platform, FleetTrackr, from SmartCow, an AI engineering company focusing in video analytics, AIoT devices, and smart city solutions, offers centralized management and streamlined deployment of edge AI systems via a hybrid cloud service.
• In May 2022, MediaTek unveiled the first chip in the Genio family, the Genio 1200, intended for high-end AIoT products, as well as its new Genio platform for AIoT devices.

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