May 3 2019
The "AI in IoT Market by Component (Platforms, Software Solutions, and Services), Technology (ML and Deep Learning, and NLP), Vertical (Transportation and Mobility, Energy and Utilities, Manufacturing, and Retail), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The author forecasts the global AI in IoT market size to grow from USD 5.1 billion in 2019 to USD 16.2 billion by 2024, at a CAGR of 26% during 2019-2024. The major growth drivers for the market include the growing need to efficiently process a vast amount of real-time streaming from IoT devices, reduce maintenance cost and downtime.
The software solutions segment to grow at the highest growth rate during the forecast period
Most of the key vendors in AI in IoT market offers software solutions for enhanced security and scalability. These software solutions are designed to meet interoperability challenges that arise due to varied heterogeneous devices and manage large volumes of data and its security and privacy. They help in mitigating interoperability issues that create flexibility and managing various business functions.
The Natural Language Processing (NLP) technology segment to grow at the highest growth rate during the forecast period
Based on technologies, the AI in IoT market has been segmented into Machine Learning (ML) and deep learning, and NLP. The NLP technology segment is expected to grow at the highest growth rate during the forecast period, due to the growing demand for analyzing huge amounts of data generated by IoT devices. Moreover, NLP enables users to integrate not only voice understanding with devices and sensors, but also localization features, leading to creative translation.
Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
In the AI in IoT market by region, APAC is expected to grow at the highest growth rate during the forecast period. The growth in the number of AI in IoT vendors in major APAC countries, such as China and Japan, and innovative technological advancements are expected to drive the growth of the market in APAC.
Competitive Landscape
The report includes the study of the key players offering AI in IoT solutions. It profiles the major vendors in the global AI in IoT market. These vendors include Google (US), Microsoft (US), IBM (US), AWS (US), Oracle (US), SAP (Germany), PTC (US), GE (US), Salesforce (US), Hitachi (Japan), Uptake (US), SAS (US), Autoplant Systems Pvt Ltd. (India), Kairos (US), Softweb Solutions (US), Arundo (US), C3 IoT (US), Anagog (Israel), Imagimob (Sweden), and Thingstel (India).
It also includes an in-depth competitive analysis of the key players in the AI in IoT market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
Source: https://www.researchandmarkets.com/