AI in IoT Market worth $16.2 billion by 2024

IoT For All

MarketsandMarkets 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 Compound Annual Growth Rate (CAGR) of 26.0% during the forecast period. The growing need for the effective management of data generated from IoT devices, streamlining production processes, and reducing g downtime are expected to drive the growth of the global AI in IoT market.

Download PDF Brochure @

AI in IoT is the amalgamation of AI technologies with IoT infrastructure to achieve efficient IoT operations. Major IoT software platforms and solution vendors are integrating AI capabilities, such as ML-based analytics, with their solutions to fetch critical business insights from a huge pile of data generated by IoT devices. The IoT solutions integrated with AI capabilities help enterprises across major industry verticals in becoming proactive instead of reactive, thus replacing traditional business intelligence tools for analyzing IoT data with advanced tools. These solutions, in turn, help make operational predictions with enhanced agility and accuracy and improve human-machine interactions.

The major vendors in the global AI in IoT market 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). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to further expand their presence in the global AI in IoT market.

Get a sample of the report @

Google is one of the key technology players in the AI in IoT market. It relies heavily on organic growth strategies and is focused on the continuous development of innovative next-gen products. For instance, in July 2018, Google launched Cloud IoT Edge, a software stack that enables IoT devices to access Google Cloud’s powerful AI capabilities. The company has a core focus on R&D; it invested approximately 15% of its revenue in R&D in the past 3 years. For instance, its R&D expenditure for 2018 accounted for 15.7% of its revenue. It is making significant R&D investments in the areas of its strategic focus, i.e., machine learning, cloud, advertising, search, as well as new products and services. The company is well-positioned to take advantage of the increasing demand for AI-enabled IoT solutions.

IBM is another significant player that delivers solutions in the AI in IoT market. It offers the IBM Watson IoT platform that helps businesses harness real-time data to offer effective customer experiences. The company is focusing on scaling its platforms, delivering productivity through automation, infusing AI into its offerings, and investing in cloud infrastructure. Moreover, it is focused on product innovations and allocates a high budget for R&D. For instance, in 2017, it invested 7.3% of its annual revenue in R&D. In addition to this, the company has a vast partner ecosystem consisting of resellers, managed service providers, alliance partners, embedded system partners, and distributors who help it deliver efficient and cost-effective solutions to its global customers. Its wide-ranging proficiency across industries, strong global footprint, and unique approach to combining technologies and services help clients achieve business outcomes.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 full-time analysts and SMEs at MarketsandMarkets™ are tracking global high-growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify the most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high-growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for a deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

Published By
IoT For All
IoT For All
IoT For All is creating resources to enable companies of all sizes to leverage IoT. From technical deep-dives, to IoT ecosystem overviews, to evergreen resources, IoT For All is the best place to keep up with what's going on in IoT.
IoT For All is creating resources to enable companies of all sizes to leverage IoT. From technical deep-dives, to IoT ecosystem overviews, to evergreen resources, IoT For All is the best place to keep up with what's going on in IoT.