The AIoT Platforms Market is to Touch $24.1 Billion by 2030; the convergence of edge AI capabilities and IoT sensor technologies propels market growth.

The AIoT Platforms Market size is estimated to reach $24.1 billion by 2030, growing at a CAGR of 37.7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, 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”

The fusion of machine learning algorithms and the increasing deployment of connected devices are fueling the growth of the AIoT Platforms industry during the forecast period.

North America dominates the global AIoT Platforms Market, driven by a robust ecosystem of startups, academic institutions, and tech giants pioneering advancements in AI and IoT. Major tech hubs such as Silicon Valley in California and the Boston-Cambridge area in Massachusetts attract global talent and investment, fueling innovation in AIoT solutions. The region benefits from cutting-edge infrastructure, including extensive 5G network coverage and high-speed internet connectivity, which supports the proliferation of IoT devices and data-driven applications. This infrastructure enables real-time data processing and integration across AIoT platforms, facilitating seamless connectivity and enhancing operational efficiency in various industries. 

AIoT leverages edge computing to revolutionize data processing and analytics, enabling real-time insights, reduced latency, and efficient resource utilization. By deploying AI algorithms directly on edge devices or gateways, organizations can minimize data transportation to centralized cloud servers. This distributed computing approach alleviates network congestion and bandwidth limitations, enhancing the responsiveness of AIoT applications, particularly in environments with stringent latency requirements or unreliable connectivity. Edge computing-driven AIoT systems offer versatile functionalities applicable across diverse industries. For instance, real-time evaluation of sensor data on factory floors empowers edge AI to enable predictive maintenance, enhance quality control, and optimize manufacturing processes.

The proliferation of wearables, smart speakers, connected appliances, smartphones, and industrial sensors is exponentially increasing data generation at the edge. AIoT platforms leverage this data influx to provide insightful analyses and support informed decision-making. The growing popularity of smart devices among consumers is driven by their efficiency, convenience, and ability to enhance daily life. These devices efficiently collect data on user preferences, activity patterns, and surroundings, enabling automated controls, personalized services, and predictive recommendations. Moreover, IoT sensors and smart devices are revolutionizing industrial operations in manufacturing, logistics, and energy sectors, driving digital transformation and automation efforts across industries. 

Key companies profiled in the AIoT Platforms Market are IBM, Google LLC, Microsoft Corporation, Oracle Corporation, AWS, Inc., Intel Corporation, SAP SE, Cisco Systems Inc., NXP Semiconductors Inc., Axiom Technologies Group and others.