Artificial Intelligence in IoT Market is forecasted to value over USD 17 billion by 2027 end and grow at a CAGR of over 24% during the forecast period 2020 to 2027.

Artificial Intelligence (AI) collects the complex and uncertain data of smart devices. The advancement of the Internet of Things has led us to everything being connected to the internet. Increase in smart devices application has led to frequent collection of big data.  AI is effectively instrumental in gathering of big data. It provides the tools and structure to go further automation and real-time decision in cases related to IoT. The market is segmented into Natural Language Processing, MI and Deep Learning. Machine learning performs the task of automatic learning without ordering specific instructions. Machine learning has the ability to work as a strong analytical tool for huge data. 

The growing demand of tracking of asset, performance management appliances by transportation and connected is boosting the growth of the market. The growing need for enhanced customer experience through real-time monitoring is fueling the growth of the market. The need to reduce downtime and maintenance cost has boosted the growth of the market. Growing global mobile network operators for increasing connectivity platforms is also driving the growth of the market. The growing interest of IT sectors is also projecting the growth of the market. The emergence of smart home devices like Alexa and Google home alongside growing artificial intelligence is also boosting the market. 

However, expensive cost and lack of knowledge among consumers have hindered the growth of the market. 

North America holds the majority of the market. North America currently holds vast technological advancements. It has prominent AI in the Internet of Things. Increasing investments in R&D departments is also boosting growth. Asia-Pacific region is expected to witness a high market growth rate during the forecast period because of the rise in the IT industry.

Some of the prominent players in the market include IBM, SAP, Hitachi, SAS and Imagimob.

Artificial Intelligence in IoT Market

Artificial Intelligence in IoT Market Segmentation: 
By Component 
•    Software Solutions 

  1. Security
  2. Data Management
  3. Real-Time Streaming Analytics
  4. Network Bandwidth Management
  5. Edge Solution
  6. Remote Monitoring

•    Services

  1. Professional Services
  2. Managed Services

•    Platforms

  1. Device Management
  2. Application Management
  3. Connectivity Management

By Technology
•    Natural Language Processing 
•    Ml and Deep Learning 

By Vertical 
•    Manufacturing
•    Transportation and Mobility 
•    Healthcare and Life Sciences 
•    Energy and Utilities 
•    Government and Defense 
•    Banking, Financial Services, and Insurance 
•    Retail
•    Others

By Region 
•    North America
•    Europe
•    Asia Pacific
•    Latin America
•    Rest of the World

Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways:
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the global AI in IoT market by region, by component, by technology and, by vertical 
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and Rest of the World
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies


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