AIoT Platforms Market Size Worth $24.1 Billion By 2030: IndustryARC

Global AIoT Platforms Market size is predicted to reach $24.1 billion by 2030, growing at a CAGR of 37.7% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The convergence of edge AI capabilities and IoT sensor technologies propels market growth, finds IndustryARC in its recent report, titled “AIoT Platforms Market – By Offering (Solutions and Services), By Deployment (On-Premises and Cloud), By Industry Vertical (BFSI, Manufacturing, Healthcare, Energy & Utilities, Retail, Transportation & Logistics and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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APAC to Register Highest Growth:

The Asia-Pacific (APAC) region achieved the highest growth in the AIoT Platforms market, driven by rapid technological advancements and increased adoption of IoT solutions. APAC countries, including China, India, and Japan, are at the forefront of integrating AI with IoT for smart manufacturing, smart cities, and industrial automation. The region’s robust tech ecosystem, coupled with substantial investments in digital infrastructure and smart technologies, supports this growth. Additionally, the expanding middle class and increasing demand for innovative solutions in various sectors further bolster APAC’s dominance in the AIoT Platforms market, showcasing its pivotal role in the global landscape.

AIoT Platforms Market 2024-2030: Scope of the Report

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AIoT Platforms Market Report – Key Takeaways:

• Rapid Growth of Services in AIoT Platforms Market

During the forecast period, the services segment showed the highest growth rate. This uptick in service demand underscores the increasing recognition among enterprises of the importance of expert guidance and support to optimize AIoT implementations. Consulting services play a critical role in helping businesses navigate the complexities of integrating AIoT, develop tailored strategies, and select the most suitable platforms for their needs. Additionally, implementation and integration services ensure a seamless deployment process, effectively integrating AIoT solutions into existing workflows and infrastructure. As AIoT technologies evolve rapidly, ongoing support and maintenance are essential for organizations to maximize performance, address emerging challenges, and capitalize on new functionalities.

• Dominance of Healthcare in AIoT Platforms Market

The healthcare segment is poised to dominate the AIoT Platforms Market over the forecast period. This leadership is driven by the convergence of AI and IoT technologies, revolutionizing patient care, healthcare delivery, and operational efficiency within the industry. AIoT systems empower healthcare providers to enhance patient outcomes, streamline procedures, and optimize resource utilization. Clinical settings generate substantial volumes of data through IoT devices like medical equipment, wearable sensors, and remote monitoring devices. AI algorithms integrated into healthcare-specific platforms enable real-time data analysis, facilitating remote patient monitoring, personalized treatment recommendations, and early disease detection. By leveraging AIoT technologies, healthcare organizations can improve workflow management, enhance resource allocation, and optimize operational processes. Predictive analytics algorithms can optimize staff schedules, forecast patient admissions, and optimize medical supply distribution, resulting in cost reductions and improved operational efficiencies.

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Key Opportunity Analysis:

Integration with 5G Networks

The integration of AIoT platforms with 5G networks represents a major growth opportunity. 5G’s ultra-low latency and high-speed connectivity enable more efficient data transfer from IoT devices, enhancing the performance of AI-driven applications. This synergy supports advanced use cases such as real-time remote monitoring, autonomous vehicles, and advanced industrial automation. As 5G networks expand globally, AIoT platforms can leverage this infrastructure to offer more robust, scalable, and responsive solutions. Companies that develop AIoT platforms compatible with 5G technology can capitalize on the burgeoning demand for high-performance applications in smart cities, transportation, and industrial sectors.

AIoT in Healthcare Diagnostics and Remote Patient Monitoring

The application of AIoT platforms in healthcare diagnostics and remote patient monitoring offers a significant opportunity. By integrating AI with IoT devices, healthcare providers can deliver real-time health monitoring, predictive diagnostics, and personalized treatment plans. Advanced sensors can continuously collect patient data, which AI algorithms analyze to detect anomalies and predict health issues before they escalate. This integration enhances patient care, reduces hospital visits, and lowers healthcare costs. As the healthcare industry increasingly adopts digital health solutions, AIoT platforms positioned to offer specialized applications for remote monitoring and diagnostic support stand to gain a competitive edge in this growing market segment.

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The report also covers the following areas:

• AIoT Platforms Market Size and Forecast
• AIoT Platforms Market Trends
• AIoT Platforms Market Analysis by Product Type

AIoT Platforms Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• AIoT Platforms Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the AIoT Platforms Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic significantly influenced the AIoT Platforms market by accelerating digital transformation across industries. As healthcare systems worldwide faced unprecedented challenges, the demand for AIoT solutions surged to support remote patient monitoring, predictive analytics for healthcare logistics, and telemedicine platforms. AIoT technologies played a crucial role in enhancing operational efficiency and resilience in healthcare, manufacturing, and logistics sectors amidst supply chain disruptions and remote work mandates. Moreover, the pandemic underscored the importance of AIoT in enabling agile responses to crises, driving adoption and investment in advanced AIoT capabilities.

• The Russia-Ukraine war has also impacted the AIoT Platforms market by introducing geopolitical uncertainties and disruptions in supply chains. Many AIoT components, including semiconductors and specialized hardware, are sourced from regions affected by the conflict, leading to supply shortages and price volatility. Geopolitical tensions have prompted companies to diversify supply chains and seek alternative sourcing strategies, affecting production timelines and overall market stability. Furthermore, economic uncertainties stemming from the conflict have influenced investment decisions and market dynamics, shaping the future landscape of AIoT development and deployment strategies globally.

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List of Key Market Players in the AIoT Platforms Market:

The Global AIoT Platforms Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• IBM
• Google LLC
• Microsoft Corporation
• Oracle Corporation
• AWS, Inc.
• Intel Corporation
• SAP SE
• Cisco Systems Inc.
• NXP Semiconductors Inc.
• Axiom Technologies Group

Related Reports:

Platform As A Service Market: Growing demand towards minimizing operational costs for application development act as a major factor driving the market growth of Platform as a service (Paas).  

IoT Cloud Platform Market: The increasing number of IoT devices in various application sectors is one of the primary factors driving the growth of the IoT cloud platform market.

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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

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