WESTFORD, Mass. , July 10,
2024 /PRNewswire/ -- According to SkyQuest, the
global Artificial Intelligence of Things (AIoT) Market size
was valued at USD 65.50 billion in
2022 and is poised to grow from USD 82.01
billion in 2023 to USD 495.09
billion by 2031, growing at a CAGR of 25.2% during the
forecast period (2024-2031).
The increasing need for IoT with embedded AI technologies to
enhance an organization's dynamic course and acceptance of edge
investigation arrangements is predicted to fuel market growth. AIoT
features including information analysis, continuous navigation,
large-scale data analysis, and intelligent model management are
also expected to boost the market. It is projected that throughout
the fictitious time frame, growing industry usage of devices
connected with AI technology will open revenue prospects for
arrangement suppliers. The potential growth of the market may be
restricted when companies lack skilled staff members that will help
in making the modern cycle more efficient and developing Artificial
Intelligence of Things (AIoT) applications in it.
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overview:
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Artificial Intelligence of Things (AIoT) Market
Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$82.01
Billion
|
Estimated Value by
2031
|
$495.09
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 25.2%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Technology, Offering,
Application, and Industrial Vertical
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Industrial automation
& robotics in AIoT to boost up the service need and
requirement
|
Key Market
Opportunities
|
Convergence of AIoT
with other emerging technologies
|
Key Market
Drivers
|
AIoT enhancing
operational efficiencies in healthcare sector
|
Segments covered in Artificial Intelligence Of Things
(AIoT) Market are as follows:
- Offering
- Hardware, software, services
- Technology
- Machine learning, natural language processing (NLP),
generative ai, robotics, computer vision, autonomous,
sensor technology
- Application
- Real-time machinery condition monitoring, supply chain
management, predictive maintenance, inventory management, energy
consumption management, others
- Industry Vertical
- BFSI, manufacturing, healthcare, automotive, retail,
transportation & logistics, others
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report:
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Integrated AIoT Solutions for Real-Time Insights and
Intelligent Decision-Making
The global AIoT market offers integrated solutions that combine
AI technologies with IoT devices. Real-time data processing,
AI-driven analytics and intelligent decision-making models designed
for various industry applications are part of it. It is important
to have them mainly due to increase efficiency, enabling predictive
maintenance, as well as fostering creativity in several sectors
that together facilitate growth in market share and a competitive
edge.
In several industries, Software components are important in
increasing the operational efficiency and permitting the use of
innovative business plans. Services provided includes Real-time
analytics, predictive insights as well as autonomous decision
making. Software has a significant function in ensuring enhanced
data processing, operational agility and actionable insights by
ensuring that AI capabilities integrate well with IoT devices.
The services allow smooth integration of AI with IoT
infrastructure so that it can be tailored to meet industry-specific
requirements. With their knowledgeable guidance and ongoing
support, they assist organizations in the optimization of AIoT
implementations, operational efficiency improvement and stimulation
of innovation. They play an important role in providing expert
knowledge required in running AIoT based solutions, handling
operationalization and integration problems.
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(TOC):
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AIoT's Impact on Operational Efficiency and Predictive
Maintenance in Manufacturing and Beyond
The market's included sectors, which include manufacturing,
healthcare, automotive, and agriculture, use AIoT to boost customer
experiences through data-driven insights, predict maintenance, and
increase operational efficiency. Adoption of AIoT technology
creates use cases that support the viability and efficacy of
AI-integrated IoT solutions across a range of industries, as well
as drives technological improvements and market growth.
By combining AI with IoT devices for quality control, predictive
maintenance, and real-time monitoring, AIoT improves operational
efficiency in manufacturing. As one of the key industries embracing
AIoT, manufacturing propels developments in supply chain
management, industrial automation, and product quality control. Its
use of AIoT technology raises productivity, speeds up digital
transformation, and establishes standards for sustainability and
efficiency across international businesses.
AIoT shows great promise to change healthcare delivery and
improve patient experiences internationally. It increases hospital
operating efficiencies, improves patient outcomes, and lowers
healthcare expenditures. AI's critical role in raising healthcare
standards globally is highlighted by its integration with IoT
devices in the healthcare industry, which not only increases
efficiency but also stimulates innovation in precision medicine and
medical research.
Elevating Industry Horizons by AIoT's Strategic Impact on
Operational Efficiency and Innovation
The convergence of AI and IoT, or AIoT, is a game-changer in
several industries, including manufacturing, healthcare,
agriculture, and the automotive sector. Through intelligent
decision-making, predictive maintenance, and real-time data
processing, this synergy improves operational efficiencies. By
streamlining procedures and enhancing consumer experiences, AIoT
not only spurs innovation and market expansion but also establishes
new standards for productivity and sustainability across
international industries. The ability of AIoT to transform
healthcare services, optimise manufacturing processes, and invent
agricultural techniques highlights its critical role in influencing
the global future of interconnected technologies, even in the face
of obstacles like a lack of skilled labour.
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Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
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