IBM (US) and Google (US) are leading players in AIoT Platforms Market
MarketsandMarkets forecasts the global AIoT platforms market size to grow from USD 5.0 billion in 2023 to USD 24.9 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 37.7% during the forecast period. The ongoing digital transformation in various sectors and large-scale adoption of smart devices and IoT technology are the factors expected to drive the growth of the AIoT platforms market.
The major AIoT platforms vendors include IBM (US), Sharp Global (Japan), Google (US), AWS (US), Microsoft (US), Oracle (US), HPE (US), Cisco (US), Intel (US), Tencent Cloud (China), NXP (Netherlands), SAS (US), Hitachi (Japan), SAP (Germany), AxiomTek (Taiwan), Autoplant Systems India Pvt. Ltd. (India), Williot (Israel), Cognosos (US), Relayr (US), Terminus Group (China), Semifive (South Korea), Uptake (Chicago), Falkonry (US), and Sightmachine (US). These players have adopted various growth strategies in the AIoT platforms market. Agreements, collaborations, and partnerships, and new product launches and enhancements have been the most dominating strategies adopted by major players from 2020 to 2022, which helped them innovate their offerings and increase their customer base.
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IBM is one of the leading vendors that provide AIoT platforms solutions. The company has a wide product portfolio for AIoT platforms and and related solutions. The R&D investments of the company are applied generally to all product areas, with specific areas of focus being identified regularly. The company’s recent areas of increased focus include smart infrstructure solutions, AI and hybrid cloud capalities along with IoT. IBM's business offerings are focused on helping businesses modernize and transform their operations using innovative technology solutions. The company's AI capabilities, including IBM Watson, are vital to this strategy, helping businesses integrate AI into their operations to improve efficiency and drive innovation.
Google specializes in Internet-related services and products, which include online advertising technologies, cloud computing, software, and hardware. Its core products and platform include Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube. Each product has over one billion active global users every month. Google’s product innovation has made its services widely used, making it one of the most recognized brands in the world. Google offers AIoT platforms designed to help businesses and developers build and manage connected devices at scale. Google Cloud IoT provides a suite of services and tools to connect, manage, and analyze data from IoT devices.
Related Reports:
AIoT Platforms Market by Offering (Solutions (Device Management, Application Management, Connectivity Management) and Services), Vertical (BFSI, Manufacturing, Healthcare and Retail) and Region - Global Forecast to 2028
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