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AIoT Market Share

Report ID: GMI5717
Published Date: Oct 2024
Report Format: PDF

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AIoT Market Share

Microsoft, IBM, and Google collectively held approximately 15% share of the AIoT industry in 2023. Microsoft focuses on integrating AI and IoT within its Azure cloud platform, providing comprehensive tools for developers to create smart applications. By emphasizing partnerships with industries such as manufacturing and healthcare, Microsoft enables businesses to leverage AIoT solutions efficiently.

IBM targets enterprise clients with its Watson IoT platform, offering advanced analytics and AI capabilities tailored for specific industries. By promoting industry-specific solutions, IBM enhances operational efficiency and predictive maintenance, appealing to organizations seeking to modernize their operations.

Google leverages its cloud infrastructure and machine learning expertise to provide scalable AIoT solutions. Its emphasis on open-source technologies and developer-friendly platforms attracts a diverse range of businesses. Google also focuses on enhancing user experience through AI-driven insights, making its offerings appealing for smart home applications and industrial automation.

AIoT Market Companies

Major players operating in the AIoT industry are:

AWS
Baidu
Cisco
Google
IBM
Intel
Microsoft
Nvidia
Oracle
Tencent

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The global market for AIoT was reached USD 10.8 billion in 2023 and is projected to grow at a 24.6% CAGR from 2024 to 2032, driven by increasing government initiatives in digital transformation.

The software segment accounted for over 65% share of the AIoT market in 2023 and is expected to exceed USD 45 billion by 2032, led by the increasing need for advanced data analytics.

The cloud segment held around 67% share of the market in 2023, propelled by the demand for scalable and flexible infrastructure.

The U.S. AIoT market dominated with an 80% share in 2023 and is expected to reach over USD 17 billion by 2032, driven by the increasing emphasis on smart manufacturing and industrial automation.

The industry features key players such as AWS, Baidu, Cisco, Google, IBM, Intel, Microsoft, Nvidia, Oracle, and Tencent.