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Global AI in IoT Market to Grow from $5.1 Billion in 2019 to $16.2 Billion by 2024, at a CAGR of 26% - ResearchAndMarkets.com

May 1, 2019

DUBLIN--(BUSINESS WIRE)--May 1, 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.

Key Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.3.1 Market Segmentation

1.3.2 Regions Covered

1.4 Years Considered for the Study

1.5 Currency Considered

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Breakup and Data Triangulation

2.3 Market Size Estimation

2.4 Market Forecast

2.5 Assumptions for the Study

2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the AI in IoT Market

4.2 Market Top 3 Verticals

4.3 Market By Region

4.4 Market in North America, By Component and Technology

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Effective Management of Data Generated From IoT Devices to Gain Valuable Insights

5.2.1.2 Reduced Maintenance Cost and Downtime

5.2.2 Restraints

5.2.2.1 Lack of Skilled Workforce

5.2.3 Opportunities

5.2.3.1 Real-Time Monitoring to Deliver an Exceptional Customer Experience

5.2.4 Challenges

5.2.4.1 Data Security and Privacy Issues

5.2.4.2 Maintenance and Update Issues

5.3 Use Cases

5.4 Regulatory Implications

5.4.1 Introduction

5.4.2 General Data Protection Regulation

5.4.3 Health Insurance Portability and Accountability Act

5.4.4 Federal Trade Commission

5.4.5 Federal Communications Commission

5.4.6 International Organization for Standardization/International Electrotechnical Commission Standards

5.4.6.1 ISO/ICE JTC 1

5.4.6.2 ISO/IEC JTC 1/SC 42

5.4.6.3 ISO/IEC JTC1/SC3 1

5.4.6.4 ISO/IEC JTC1/SC2 7

5.4.7 CEN/ISO

5.4.7.1 CEN/CENELEC

5.4.8 NIST

5.4.9 Eprivacy

6 AI in IoT Market, By Component

6.1 Introduction

6.2 Platforms

6.2.1 Device Management

6.2.1.1 Growing Demand for Device Management Platform to Effectively Manage, Track, and Secure IoT Devices Used in Organizations

6.2.2 Application Management

6.2.2.1 Need to Automatically Manage Applications in the Cloud to Pave the Way for Deployment of the Application Management Platform

6.2.3 Connectivity Management

6.2.3.1 Growing Demand to Manage the Entire Network of the Organization for Greater Security and Safety

6.3 Software Solutions

6.3.1 Real-Time Streaming Analytics

6.3.1.1 Growing Demand for Real-Time Streaming Analytics Software Solutions By Organizations to Effectively Detect Anomalies in Real Time

6.3.2 Security

6.3.2.1 Evolution of Various Malware and Cyber-Attacks Paving the Way for Enterprises to Adopt Security Software Solutions in the AI in IoT Market

6.3.3 Data Management

6.3.3.1 Growing Demand for AI in IoT to Effectively Manage the Huge Amount of Data Generated From IoT Devices

6.3.4 Remote Monitoring

6.3.4.1 Increasing Demand to Effectively Monitor and Manage Business Operations Paving the Way for Enterprises to Adopt Remote Monitoring Software Solutions in the Market

6.3.5 Network Bandwidth Management

6.3.5.1 Growing Demand for Network Bandwidth Management Solutions for Effective Network Monitoring and Performance of the Connected Devices

6.3.6 Edge Solution

6.3.6.1 Increasing Demand for Speech to Text Processing, and Speech Recognition Technology to Provide Growth Opportunities for Edge Solutions

6.4 Services

6.4.1 Professional Services

6.4.1.1 Deployment and Integration

6.4.1.1.1 AI in IoT Vendors to Offer Deployment and Integration Services to Effectively Overcome System-Related Issues

6.4.1.2 Support and Maintenance

6.4.1.2.1 Growing Deployment of AI in IoT Platforms to Increase the Demand for Support and Maintenance Services

6.4.1.3 Training and Consulting

6.4.1.3.1 Technologies Involved in Implementing AI in IoT Solutions to Boost the Growth of Training and Consulting Services

6.4.2 Managed Services

6.4.2.1 Growing Need to Maintain and Update AI in IoT Software to Increase the Demand for Managed Services

7 AI in IoT Market, By Technology

7.1 Introduction

7.2 Ml and Deep Learning

7.2.1 Growing Demand to Automate Communication and Create Personalized Experiences to Increase the Adoption of AI in IoT Among Enterprises

7.3 Natural Language Processing

7.3.1 Natural Language Processing to Grow at A Rapid Pace in Coming Years

8 AI in IoT Market, By Vertical

8.1 Introduction

8.2 Manufacturing

8.2.1 Predictive Maintenance

8.2.1.1 Need to Track, Diagnose, and Monitor Machines to Fuel the Growth of the Predictive Maintenance Application in the Manufacturing Vertical

8.2.2 Process Optimization

8.2.2.1 Need to Automate Production Process to Fuel the Growth of the Process Optimization Application in the Manufacturing Vertical

8.2.3 Supply Chain Management

8.2.3.1 Growing Need to Optimize Inventory for Better Customer Service to Pave the Way for Supply Chain Management Application in the Manufacturing Vertical

8.2.4 Others

8.3 Energy and Utilities

8.3.1 Smart Grid Management

8.3.1.1 Growing Demand for Effective Utility Grid to Fuel the Growth of Smart Grid Management Applications in the Energy and Utilities Vertical

8.3.2 Power Usage Analytics

8.3.2.1 Growing Demand for Personalized Customer Experience to Fuel the Growth of Power-Usage Analytics Applications in the Energy and Utilities Vertical

8.3.3 Others

8.4 Transportation and Mobility

8.4.1 Connected Vehicles

8.4.1.1 Connected Vehicles to Grow At A Rapid Pace in Coming Years

8.4.2 Fleet Management

8.4.2.1 Growing Need to Personalize Driving Experience to Fuel the Growth of the Fleet Management Application in the Market

8.4.3 Asset Tracking and Performance Management

8.4.3.1 Increasing Need to Improve Vehicles Performance and Minimize Risks to Fuel the Growth of Asset Tracking and Performance Management Applications in the Market

8.4.4 Others

8.5 Banking, Financial Services, and Insurance

8.5.1 Fraud and Risk Management

8.5.1.1 Growing Risk in Handling Huge Amount of Data to Fuel the Demand for Fraud and Risk Management Application in the Market

8.5.2 Investment Prediction

8.5.2.1 Growing Demand to Predict Future Trends and Identify Market Trends to Drive Investment Prediction Application Segment

8.5.3 Payment Transaction Security

8.5.3.1 Increasing Demand to Secure Online Transactions to Fuel the Growth of Payment Transaction Security Applications in the Market

8.5.4 Others

8.6 Government and Defense

8.6.1 Smart Cities

8.6.1.1 Smart Cities to Grow At A Rapid Pace in the Coming Years

8.6.2 Autonomous Defense System

8.6.2.1 Government and Defense Vertical to Adopt AI in IoT Solutions to Automate the Defense System

8.6.3 Others

8.7 Retail

8.7.1 Smart Stores

8.7.1.1 Increasing Need to Enhance Customer Experience to Fuel the Smart Stores Applications in the Market

8.7.2 Inventory Planning

8.7.2.1 Increasing Need to Manage Warehouse Space to Fuel the Inventory Planning Applications in the Market

8.7.3 Upsell and Cross-Channel Marketing

8.7.3.1 Increasing Demand for Recommendation at the Right Time and Place to Fuel the Growth of Upsell and Cross-Channel Marketing in the Market

8.7.4 Others

8.8 Healthcare and Life Sciences

8.8.1 Remote Patient Monitoring

8.8.1.1 Growing Demand for Monitoring Patient Health in Real Time to Fuel the Growth of Remote Patient Monitoring Applications in the Market

8.8.2 Personalized Treatment

8.8.2.1 Personalized Treatment to Grow At A Rapid Pace in Coming Years

8.8.3 Others

8.9 Others

9 AI in IoT Market, By Region

9.1 Introduction

9.2 North America

9.2.1 United States

9.2.1.1 Need to Extract Maximum Value From Smart Devices to Fuel the Demand for AI in IoT Solutions in the US

9.2.2 Canada

9.2.2.1 Increase in Investments and Research Activities to Drive AI in IoT Adoption in Canada

9.3 Europe

9.3.1 United Kingdom

9.3.1.1 Government Focus on Innovation and Research to Fuel the Adoption of AI in IoT Solutions in the UK

9.3.2 Germany

9.3.2.1 Skilled Workforce, Strong Infrastructure, and Increasing Investments to Drive the AI in IoT Adoption in Germany

9.3.3 France

9.3.3.1 Focus on R&D and Heavy Inflow of Capital From Global Players and Investors to Drive the AI in IoT Market in France

9.3.4 Rest of Europe

9.4 Asia Pacific

9.4.1 China

9.4.1.1 Increasing Focus on the Advancement of IoT Solutions By Integrating Ml and Deep Learning Technologies to Drive the Adoption of AI in IoT Solutions in China

9.4.2 Japan

9.4.2.1 Government Initiatives, Such as Society 5.0, to Create the Growth Potential for AI in IoT in Japan

9.4.3 Rest of Asia Pacific

9.5 Middle East and Africa

9.5.1 Israel

9.5.1.1 Regulatory Compliance Backed By the Presence of IoT and AI Software Vendors to Lead the Adoption of AI in IoT Solutions

9.5.2 UAE

9.5.2.1 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt AI in IoT Solutions

9.5.3 Rest of Middle East and Africa

9.6 Latin America

9.6.1 Brazil

9.6.1.1 Brazil to Witness the Highest Growth Rate in the AI in IoT Market in Coming Few Years

9.6.2 Mexico

9.6.2.1 Mexico to Account for the Largest Market Size in the AI in IoT Market in the Region

9.6.3 Rest of Latin America

10 Competitive Landscape

10.1 Competitive Leadership Mapping

10.1.1 Visionary Leaders

10.1.2 Innovators

10.1.3 Dynamic Differentiators

10.1.4 Emerging Companies

10.2 Strength of Product Portfolio

10.3 Business Strategy Excellence

11 Company Profiles

(Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis)

11.1 Introduction

11.2 IBM

11.3 Microsoft

11.4 Google

11.5 PTC

11.6 AWS

11.7 Oracle

11.8 GE

11.9 Salesforce

11.10 SAP

11.11 Hitachi

11.12 Uptake

11.13 SAS

11.14 Autoplant Systems India Pvt. Ltd.

11.15 Kairos

11.16 Softweb Solutions

11.17 Arundo

11.18 C3 IoT

11.19 Anagog

11.20 Thingstel

11.21 Imagimob

For more information about this report visit https://www.researchandmarkets.com/r/pc98bw

View source version on businesswire.com:https://www.businesswire.com/news/home/20190501005696/en/

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Related Topics:Internet of Things and M2M,Artificial Intelligence

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE OTHER TECHNOLOGY

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 05/01/2019 10:39 AM/DISC: 05/01/2019 10:39 AM

http://www.businesswire.com/news/home/20190501005696/en