IoT Artificial Intelligence Market is to Touch $24.1 billion by 2030; AIoT Enhanced by Edge Computing and The Increasing Demand for Smart Devices are fueling the propels market growth.

The IoT Artificial Intelligence Market size is estimated to reach $24.1 billion by 2030, growing at a CAGR of 37.7% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “IoT Artificial Intelligence Market – By Offering (Solutions (Device Management, Application Management, Connectivity Management), Services (Professional Services, Managed Services)), By Deployment (On-Premises, Cloud), By Industry Vertical (BFSI, Manufacturing, Healthcare, Energy & Utilities, Retail, Transportation & Logistics and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” ; AIoT Enhanced by Edge Computing and The Increasing Demand for Smart Devices are fueling the growth of the IoT Artificial Intelligence industry during the forecast period.

North America holds the largest share of the global IoT Artificial Intelligence (AIoT) market. This dominance is driven by several factors that position the region as a leading hub for AIoT adoption and innovation. The region boasts a dynamic ecosystem of startups, academic institutions, and tech companies that are at the forefront of AI and IoT advancements. Major tech hubs such as Silicon Valley in California and the Boston-Cambridge area in Massachusetts attract global talent and investment, serving as incubators for cutting-edge AIoT solutions. Additionally, North America's advanced infrastructure, including widespread 5G networks and high-speed internet connectivity, supports the proliferation of IoT devices and data-intensive applications. This robust infrastructure enables seamless data transmission and integration between IoT devices and AI, facilitating real-time insights and actions.

Edge computing enhances AIoT (Artificial Intelligence of Things) by enabling data processing and analytics closer to the data source, resulting in real-time insights, reduced latency, and optimized resource usage. By integrating AI algorithms directly into edge devices or gateways, organizations can process and analyze data locally, minimizing the need to transfer large volumes of data to centralized cloud servers. This distributed approach alleviates network congestion and bandwidth limitations while enhancing the responsiveness of AIoT applications, particularly in environments with stringent latency requirements or unreliable connectivity. Edge computing-powered AIoT systems offer unique advantages across various industries. For example, in manufacturing, real-time analysis of sensor data on the factory floor enables predictive maintenance, quality control, and process optimization.

The proliferation of wearables, smart speakers, connected appliances, smartphones, and industrial sensors is driving exponential growth in data generated at the edge. The widespread adoption of smart devices creates vast amounts of data that can be harnessed by AI-powered IoT to yield valuable insights and support informed decision-making. Consumers are increasingly drawn to smart devices due to their efficiency, convenience, and ability to enhance daily life. These devices seamlessly collect data on user preferences, activity patterns, environments, and more, unlocking new possibilities for automated controls, personalized services, and predictive recommendations. In industrial settings, the integration of IoT sensors and smart devices is accelerating the digitization and automation of processes in manufacturing, logistics, energy, and beyond.

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