AIoT Market

The global AIoT market size is projected to grow from USD 18.37 billion in 2024 to USD 79.13 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 27.6% during the forecast period. Several improvements have been achieved in the field of AI algorithms and IOT sensors to thereby enhance the efficiency of data processing, analysis, and decision-making in the real-time processes of different industries. The proliferation of more IoT devices in our society, coupled with the need for faster and real-time analysis of the data generated, has put pressure on developing AI solutions for operations. The growth of the market is again boosted more and more with the introduction of 5G technology, which offers more data transferring rates and low latency needed for AIoT domains like self-driving cars and smart cities. Other important factors contributing to growth are Industry 4.0 and automation trends in manufacturing as AIoT helps to predict equipment failures and manage inventory streams.

The major vendors in the AIoT market include IBM (US), Cisco (US), AWS (US), Google (US), Microsoft (US), Oracle (US), HPE (US), Intel (US), Hitachi (Japan), SAP (Germany). The market players have adopted various strategies such as developing advanced products, partnerships, contracts, expansions, and acquisitions to strengthen their AIoT market position. Organic and inorganic strategies have helped the market players expand globally by providing AIoT solutions.

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IBM

IBM deals in hardware, software, and service across computing intrusion, Artificial intelligence, Cyber security, and the Internet of Things. The company operates through multiple strategic segments: Cloud and cognitive software, Global business services (GBS), Global technological services, Systems, and Global Financing. The AIoT solutions provided by the company include IBM Maximo Asset Management and IBM Edge Application Manager. IBM Maximo Asset Management aims to help organizations manage their assets using maintenance and monitoring functionality, such as IoT devices. It helps monitor the performance of the assets and facilitates preventive maintenance, hence causing less or no downtime and increasing operation efficiency. The IBM Edge Application Manager is a solution that addresses the needs of organizations by allowing them to deploy AI and IoT applications at the edge. Analytics also makes it easier to have up-to-date information and improve the speed of making decisions.

Cisco

Cisco specializes in providing comprehensive technological solutions across five primary segments: Networking, Security, Collaboration, Application, and Cloud computing. In these segments, Cisco provides products and services to improve access, protection, and effectiveness for clients worldwide. Organizations serve these businesses' data center and cloud needs with data center switches, servers, storage, and cloud management software for building the next-generation data center and adopting cloud computing. In the AIoT market, Cisco provides Cisco IoT Networking and Cisco Edge Intelligence. Cisco IoT Networking also offers various IoT networking solutions covering industrial routers, switches, and gateways. These solutions deliver robust and secure IoT communication, data collection, and analytics at the IoT node and bridge the IoT devices with Cisco’s IoT platform. The Cisco Edge Intelligence provides the ability to process, analyze, and act on the IoT data at the organization's edge. Some components are edge computing, machine learning, and analytical capabilities for near real-time decision-making.

Related Reports:

AIoT Market by Technology (ML, NLP, Computer Vision, Context Aware AI) and Platforms (IoT Device Management, IoT Application Enablement Platforms, IoT Connectivity Management, IoT Cloud, IoT Advanced Analytics) - Global Forecast to 2030

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