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
Report Metric |
Details |
Base Year Considered |
2023 |
Forecast Period |
2023–2030 |
CAGR |
37.7% |
Market Size in 2030 |
$24.1 billion |
Segments Covered |
Offering, Deployment, Industry Vertical and Region |
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
1. IBM 2. Google LLC 3. Microsoft Corporation 4. Oracle Corporation 5. AWS Inc. 6. Intel Corporation 7. SAP SE 8. Cisco Systems Inc. 9. NXP Semiconductors Inc. 10. Axiom Technologies Group |
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IoT Artificial Intelligence Market Report – Key Takeaways:
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 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 2023-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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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:
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