AI in IoT market to grow at a CAGR of 24.7%; Growth in industrial automation is identified as the key trend - Technavio

NEW YORK, Feb. 16, 2023 /PRNewswire/ -- According to Technavio, the global AI in IoT market size is estimated to grow by USD 16,087.7 million from 2022 to 2027. The market is estimated to grow at a CAGR of 24.7% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 3,536.67 million. APAC will account for 34% of the market growth during the forecast period. For more Insights on market size Request a sample report

AI in IoT market - Five Forces
The global AI in IoT market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

AI in IoT market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

AI in IoT market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (BFSI, IT and telecom, manufacturing, and others), component (software and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market growth in the BFSI segment will be significant during the forecast period. The use of AI in IoT in banks enhances the traditional banking model and provides access to real-time data. It also allows devices to connect to the internet and one another and helps financial companies save a lot of time and money by gathering and transferring data. Many such benefits are driving the growth of the BFSI segment.

Geography Overview
By geography, the global AI in IoT market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global AI in IoT market.

• APAC will account for 34% of the market growth during the forecast period. The region is home to big technology giants such as Google, IBM, Microsoft, and Amazon. These companies are investing heavily in research and development facilities for AI in IoT. They are also offering AI in IoT solutions by leveraging their vast technical expertise. All these factors are driving the growth of the regional market.

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AI in IoT market – Market Dynamics

Key factor driving market growth

• The market is driven by the faster data analysis offered by AI in IoT solutions.
• Traditional methods of analyzing data from IoT devices are not efficient to process huge amounts of data.
• The use of AI helps in this context helps in quickly deriving insights from IoT data.
• AI can help in understanding flaws in a particular sensor or device so that it can be repaired or replaced on time.
• The increasing demand is encouraging major vendors in the market to offer solutions integrated with AI capabilities such as machine learning-based analytics.

Leading trends influencing the market 

• Growth in industrial automation is identified as the key trend in the market.
• Industries across the world are adopting Industry 4.0 to optimize manufacturing operations by reducing errors at the early stages of the product lifecycle.
• This is leading to an increase in the demand for control systems, networking technologies, and software among various industries such as food and beverage, paper, oil and gas, and pharmaceuticals.
• IoT devices fall under the category of control systems. With the emerging trend of industrial automation, the demand for such devices is expected to increase during the forecast period.

Major challenges hindering market growth

• The rise in privacy and security issues is a major challenge in the market.
• The rapid adoption of IoT technologies is leading to an increase in the number of devices connected to the internet.
• This is widening the scope for cyber criminals to steal data and use it to commit fraud or blackmail.
• The adoption of IoT is also increasing privacy and security concerns, as these devices can be hacked to steal sensitive information.
• The high vulnerability of IoT devices is expected to hinder the growth of the market during the forecast period.

Driver, trend, and challenges are the factor of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report.

What are the key data covered in this AI in IoT market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the AI in IoT market between 2023 and 2027
• Precise estimation of the size of the AI in IoT market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the AI in IoT market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of AI in IoT market vendors

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Related Reports:

• The industrial internet of things (IoT) market is estimated to grow at a CAGR of 12.23% between 2022 and 2027. The size of the market is forecast to increase by USD 123.98 billion. The growing importance of data-driven business outcomes in the industrial sector is notably driving market growth, although factors such as increasing cybersecurity threats may impede the market growth.
• The artificial intelligence platforms market is estimated to grow at a CAGR of 34.86% between 2022 and 2027. The size of the market is forecast to increase by USD 31,255.01 million. The rising demand for AI-based solutions is notably driving the market growth, although factors such as the lack of skilled professionals may impede the market growth.

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global AI in IoT market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global AI in IoT market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Component Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 BFSI - Market size and forecast 2022-2027
• Exhibit 34: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on BFSI - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on BFSI - Year-over-year growth 2022-2027 (%)

• 6.4 IT and telecom - Market size and forecast 2022-2027
• Exhibit 38: Chart on IT and telecom - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on IT and telecom - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on IT and telecom - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on IT and telecom - Year-over-year growth 2022-2027 (%)

• 6.5 Manufacturing - Market size and forecast 2022-2027
• Exhibit 42: Chart on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user ($ million)

7 Market Segmentation by Component

• 7.1 Market segments 
• Exhibit 51: Chart on Component - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 53: Chart on Comparison by Component
• Exhibit 54: Data Table on Comparison by Component

• 7.3 Software - Market size and forecast 2022-2027
• Exhibit 55: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.4 Services - Market size and forecast 2022-2027
• Exhibit 59: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 63: Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 AIKairos Pvt. Ltd. 
• Exhibit 116: AIKairos Pvt. Ltd. - Overview
• Exhibit 117: AIKairos Pvt. Ltd. - Product / Service
• Exhibit 118: AIKairos Pvt. Ltd. - Key offerings

• 12.4 Alphabet Inc. 
• Exhibit 119: Alphabet Inc. - Overview
• Exhibit 120: Alphabet Inc. - Business segments
• Exhibit 121: Alphabet Inc. - Key news
• Exhibit 122: Alphabet Inc. - Key offerings
• Exhibit 123: Alphabet Inc. - Segment focus

• 12.5 Amazon.com Inc. 
• Exhibit 124: Amazon.com Inc. - Overview
• Exhibit 125: Amazon.com Inc. - Business segments
• Exhibit 126: Amazon.com Inc. - Key news
• Exhibit 127: Amazon.com Inc. - Key offerings
• Exhibit 128: Amazon.com Inc. - Segment focus

• 12.6 Autoplant System India Pvt. Ltd. 
• Exhibit 129: Autoplant System India Pvt. Ltd. - Overview
• Exhibit 130: Autoplant System India Pvt. Ltd. - Product / Service
• Exhibit 131: Autoplant System India Pvt. Ltd. - Key offerings

• 12.7 Avnet Inc. 
• Exhibit 132: Avnet Inc. - Overview
• Exhibit 133: Avnet Inc. - Business segments
• Exhibit 134: Avnet Inc. - Key news
• Exhibit 135: Avnet Inc. - Key offerings
• Exhibit 136: Avnet Inc. - Segment focus

• 12.8 General Electric Co. 
• Exhibit 137: General Electric Co. - Overview
• Exhibit 138: General Electric Co. - Business segments
• Exhibit 139: General Electric Co. - Key news
• Exhibit 140: General Electric Co. - Key offerings
• Exhibit 141: General Electric Co. - Segment focus

• 12.9 Hitachi Ltd. 
• Exhibit 142: Hitachi Ltd. - Overview
• Exhibit 143: Hitachi Ltd. - Business segments
• Exhibit 144: Hitachi Ltd. - Key news
• Exhibit 145: Hitachi Ltd. - Key offerings
• Exhibit 146: Hitachi Ltd. - Segment focus

• 12.10 International Business Machines Corp.
• Exhibit 147: International Business Machines Corp. - Overview
• Exhibit 148: International Business Machines Corp. - Business segments
• Exhibit 149: International Business Machines Corp. - Key offerings
• Exhibit 150: International Business Machines Corp. - Segment focus

• 12.11 Microsoft Corp. 
• Exhibit 151: Microsoft Corp. - Overview
• Exhibit 152: Microsoft Corp. - Business segments
• Exhibit 153: Microsoft Corp. - Key news
• Exhibit 154: Microsoft Corp. - Key offerings
• Exhibit 155: Microsoft Corp. - Segment focus

• 12.12 Oracle Corp. 
• Exhibit 156: Oracle Corp. - Overview
• Exhibit 157: Oracle Corp. - Business segments
• Exhibit 158: Oracle Corp. - Key news
• Exhibit 159: Oracle Corp. - Key offerings
• Exhibit 160: Oracle Corp. - Segment focus

• 12.13 PTC Inc. 
• Exhibit 161: PTC Inc. - Overview
• Exhibit 162: PTC Inc. - Business segments
• Exhibit 163: PTC Inc. - Key offerings
• Exhibit 164: PTC Inc. - Segment focus

• 12.14 Salesforce.com Inc. 
• Exhibit 165: Salesforce.com Inc. - Overview
• Exhibit 166: Salesforce.com Inc. - Product / Service
• Exhibit 167: Salesforce.com Inc. - Key news
• Exhibit 168: Salesforce.com Inc. - Key offerings

• 12.15 SAP SE 
• Exhibit 169: SAP SE - Overview
• Exhibit 170: SAP SE - Business segments
• Exhibit 171: SAP SE - Key news
• Exhibit 172: SAP SE - Key offerings
• Exhibit 173: SAP SE - Segment focus

• 12.16 SAS Institute Inc. 
• Exhibit 174: SAS Institute Inc. - Overview
• Exhibit 175: SAS Institute Inc. - Product / Service
• Exhibit 176: SAS Institute Inc. - Key news
• Exhibit 177: SAS Institute Inc. - Key offerings

• 12.17 Uptake Technologies Inc. 
• Exhibit 178: Uptake Technologies Inc. - Overview
• Exhibit 179: Uptake Technologies Inc. - Product / Service
• Exhibit 180: Uptake Technologies Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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