Artificial Intelligence in IoT Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Internet of things artificial intelligence is a combination of connecting the device to the internet and other connected devices and analyzing the big data and provide the required amount of data to the device, respectively. Due to the use of AI in IoT, data analyzing and analytics problems are being solved as it is done by AI in a better way. Moreover, the need to process vast volumes of real-time data generated by IoT appliance is expected to create new opportunities for Artificial Intelligence in IoT Market.

MARKET SCOPE

The "Global Artificial Intelligence in IoT Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the artificial intelligence in IoT market with detailed market segmentation by technology, component, end user industry, and geography. The report provides key statistics on the market status of the leading artificial intelligence in IoT market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on technology, the global artificial intelligence in IoT market is segmented into machine learning, natural language processing, image processing, and speech recognition.
  
•   On the basis of component, the market is segmented into software, platform, and services.
  
•   Based on end user industry, the market is segmented into BFSI, energy and utilities, manufacturing, retail, transportation and mobility, and others.
  

MARKET DYNAMICS

Drivers:

•   The requirement to efficiently process huge volumes of real-time data being generated from IoT devices and reduce maintenance cost and downtime are some of the major factors driving the growth of artificial intelligence in IoT Market.
  
•   Advancement in technologies is anticipated to create new opportunities for artificial intelligence in IoT Market.
  

Restraints:

•   Expensive cost and lack of knowledge among consumers are the major factors which may restrain the growth of artificial intelligence in IoT Market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The artificial intelligence in IoT market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the artificial intelligence in IoT market in these regions.

IMPACT OF COVID-19 ON ARTIFICIAL INTELLIGENCE IN IOT MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the artificial intelligence in IoT market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from artificial intelligence in IoT market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the artificial intelligence in IoT market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

  Amazon Inc.

  Cisco Systems Inc

  Google (Alphabet Inc.)

  Intel Corporation

  IBM Corporation

  Microsoft Corporation

  NVIDIA Corporation

  Oracle Corporation

  Salesforce Inc

  SAP SE
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Artificial Intelligence in IoT Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Technology Machine Learning Natural Language Processing Image Processing Speech Recognition By Component Software Platform Services By End User Industry BFSI Energy and Utilities Manufacturing Retail Transportation and Mobility
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Amazon Inc. Cisco Systems Inc Google (Alphabet Inc.) Intel Corporation IBM Corporation Microsoft Corporation NVIDIA Corporation Oracle Corporation Salesforce Inc