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3. AIoT platforms Market Size & Share - Future Growth Expectations

The size of the global market for AIoT platforms is expected to increase at a compound annual growth rate (CAGR) of 37.7% over the course of the forecast period, from USD 5.0 billion in 2023 to USD 24.9 billion by 2028, according to MarketsandMarkets. 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.

The AIoT Platforms market is poised for substantial growth in the coming years, driven by several key factors:

• Increasing Adoption of IoT Devices
• Advancements in Artificial Intelligence (AI) and Machine Learning (ML)
• Integration of AI with IoT Technologies
• Rise of Edge Computing
• Growing Demand for Predictive Maintenance
• Expansion of 5G Networks

These growth factors collectively contribute to the rapid development and expansion of the AIoT platforms market, as organizations across industries recognize the transformative potential of AI-driven IoT solutions.

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Increasing Adoption of IoT Devices:

• The proliferation of IoT devices across various industries drives the demand for AIoT platforms to manage and derive insights from the vast amounts of data generated.

Advancements in Artificial Intelligence (AI) and Machine Learning (ML):

• Continuous advancements in AI and ML technologies enhance the capabilities of AIoT platforms to process and analyze data, enabling more sophisticated insights and predictions.

Integration of AI with IoT Technologies:

• The convergence of AI and IoT enables the development of intelligent systems capable of autonomously learning and adapting to changing environments, driving demand for AIoT platforms.

Rise of Edge Computing:

• The increasing adoption of edge computing architectures allows for data processing and analytics to be performed closer to the source, enhancing real-time decision-making capabilities and driving the need for AIoT platforms.

Growing Demand for Predictive Maintenance:

• Industries such as manufacturing, transportation, and healthcare are increasingly adopting predictive maintenance strategies enabled by AIoT platforms, leading to reduced downtime and cost savings.

Expansion of 5G Networks:

• The rollout of 5G networks facilitates faster and more reliable communication between IoT devices, enabling seamless data transmission and supporting the growth of AIoT platforms.

AIoT Platforms Market Share - Global Industry Landscape

The AIoT Platforms market is characterized by the presence of several key players competing for market share. Some of the leading companies in the AIoT Platforms industry include:

• IBM (US)
• Sharp Global (Japan)
• Google (US)
• AxiomTek (Taiwan)
• SAP (Germany)

These companies play significant roles in shaping the AIoT Platforms market, offering innovative solutions that drive digital transformation and operational excellence across various industries.

IBM (US)

• Market Share: A significant player in the AIoT Platforms market, leveraging its expertise in AI, IoT, and cloud computing.
• Key Offerings: IBM offers the Watson IoT platform, which integrates AI and IoT technologies to enable real-time insights, predictive analytics, and automation across various industries.

Sharp Global (Japan)

• Market Share: Sharp Global holds a notable position in the AIoT Platforms market, known for its innovative solutions combining AI and IoT.
• Key Offerings: Sharp Global provides AIoT platforms that facilitate seamless integration of intelligent devices, real-time data analytics, and advanced automation, enhancing operational efficiency and decision-making.

Google (US)

• Market Share: Google is a significant player in the AIoT Platforms market, leveraging its AI and cloud computing capabilities.
• Key Offerings: Google Cloud IoT Core is a key offering, providing a scalable and secure platform for connecting, managing, and ingesting data from globally dispersed IoT devices.

AxiomTek (Taiwan)

• Market Share: AxiomTek is a notable player in the AIoT Platforms market, offering advanced solutions for various industries.
• Key Offerings: AxiomTek provides AIoT platforms with capabilities for real-time data analytics, intelligent device management, and automation, helping businesses optimize processes and drive innovation.

SAP (Germany)

• Market Share: SAP is a major player in the AIoT Platforms market, known for its enterprise-level solutions.
• Key Offerings: SAP offers the Leonardo IoT platform, integrating AI, machine learning, and analytics to enable predictive maintenance, asset optimization, and intelligent insights across industries.

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