Global Artificial Intelligence Things Market Synopsis

Artificial Intelligence of Things Market Size Was Valued at USD 10.3 Billion in 2022, and is Projected to Reach USD 126.34 Billion by 2030, Growing at a CAGR of 36.8% From 2023-2030

Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition, and machine vision.

• Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs, and perform human-like tasks.
• The rapidly expanding Internet of Things extends connectivity and data exchange across a vast network of portable devices, home appliances, vehicles, manufacturing equipment, and other things embedded with electronics, software, sensors, actuators, and connectivity
• In the fast-growing world of IoT, which connects and shares data across a vast network of devices organizations win with analytics. For its ability to make rapid decisions and uncover deep insights as it learns from massive volumes of IoT data, AI is an essential form of analytics for any organization that wants to expand the value of IoT.
• North America leads the IoT market with the highest market share, driven by widespread IoT adoption across industries and the implementation of IoT platforms for efficient data management and predictive analytics. IoT is gaining traction in the healthcare industry. For instance, smartwatches and fitness trackers, are increasingly being used to monitor and track a patient's health issue. 

Key Players:

Nvidia (U.S), IBM (U.S), Microsoft (U.S), Amazon (U.S), Google (U.S), Alphabet (U.S), Data Robot, Inc.  (U.S), DeepMind (UK), Apple (U.S), Siemens (GERMANY), Oracle (U.S), Salesforce (U.S), Appier (Taiwan), Google AI (U.S), General Electric Company (U.S), Pony.ai (U.S), Alibaba Cloud (CHINA), Rockwell Automation (U.S), Fractal Analytics (U.S), Element AI (CANADA), SAP (GERMANY), People.ai (U.S), H2O.ai (U.S), Clarifai (CANADA),  OpenAI (U.S), Other major players.

Global Artificial Intelligence Things Market Trend Analysis

Growth in Adoption of Autonomous Vehicles

• Autonomous Vehicles are gaining increasing importance due to the current needs of modern society for better mobility and societal impact. Autonomous development and adoption will be driven by Artificial Intelligence (AI) and 5G/6G technologies which will offer increased speed, reduced latency, and ubiquity. Autonomous AI optimizes operations, leading the cost savings and enhancing productivity.
• However, the public is concerned with the concept of handing total control of driving to vehicles. These concerns will inhibit the adoption of CAVs to become available to the public. It conducts a statistical analysis and applies machine learning techniques to predict user adoption for CAVs. Several machine-learning approaches were effective in forecasting user adoption for CAVs. The increasing adoption of autonomous vehicles of artificial intelligence is driving the growth of the Artificial Intelligence Market.

Continuous Research and Innovation

• Advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing. For instance, in 2023, Apple acquired a Mountain View-based startup, Wave One, that was developing AI algorithms for compressing video.
• In 2023, Oracle announced its plans to develop powerful, generative AI services for organizations worldwide. Oracle provides native generative AI services to help organizations automate end-to-end business processes, improve decision-making, and enhance customer experiences, in collaboration with Cohere, a leading AI platform for enterprise.
• In 2020, Intel Corporation acquired Cnvrg.io, an Israeli company that develops and operates a platform for data scientists to build and run machine learning models, to boost its artificial intelligence business.

Decision-making Transparency

 Decision-making transparency is the restraining factor of the Artificial intelligence market. The complexation models make it difficult to understand the process of decision-making. Artificial intelligence-based solutions often generate outcomes that come with black-box nature, this can lead to a lack of trust and accountability. This is particularly concerning in critical areas such as finance and healthcare. These industries or end users have a delicate need for transparency to protect the proprietary. Thus, transparency issues in decision-making hamper the growth of the market.

Artificial Intelligence Things Market Segment Analysis     

Global Artificial Intelligence Things Market segments cover the Technology, Application, Component, and End User. By Technology, the Deep Learning segment is anticipated to dominate the Market Over the Forecast period.

• The deep Learning segment is dominated to drive the demand of the Global Artificial Intelligence Things Market over the forecast period. Its complex applications are driven by the data such as audio, video, and text recognition. The rising technological advancements in the field of deep learning are expected to overcome the challenges associated with the high volumes of data. Furthermore, the rising adoption of deep learning technology in the medical field is expected to grow the growth of the segment over the forecast period.
• The BFSI segment is dominated to drive the demand for the Global Artificial Intelligence Things Market over the forecast period. Artificial intelligence (AI) solutions are widely being adopted in the banking and finance sectors for multiple purposes, including account inquiries, loan applications, fraud detection, and credit score monitoring. The BFSI sector becomes an ideal candidate for AI application owing to the massive amount of data the sector generates daily.

Global Artificial Intelligence Things Market Regional Insights

North America is expected to Dominate the Market over the Forecast Period

• North America capture the market share of global revenue in 2022. The higher demand for advanced technological hardware and software products across various end-use raise and the favorable government policies that inspire industries in North America to adopt artificial intelligence AI have appreciably contributed to the growth of the artificial intelligence market.
• American president launched an American enterprise to promote the US as a leader in artificial intelligence technology in 2019. This enterprise focused on the assumption of AI-based systems by providing guidelines for the real-life application of artificial intelligence technology in various industries and sectors. North America is the place of residence to the leading tech monsters for instance: Facebook, Amazon, Google, IBM, Microsoft, and Apple, which have outstanding contributions to the development of the AI market in North America.
• Moreover, the United States has been working to organize the National Artificial Intelligence Enterprise, which focuses on six strategic pillars: advancing reliable AI, increasing AI innovation, increasing current infrastructure through new technologies, developing new opportunities, easing private and federal sector utilization of AI to improve current systems, and encourage an international environment that supports further growing Artificial Intelligence things market in North America region.

COVID-19 Impact on Global Artificial Intelligence Things Market

• During the spread of Coronavirus, the ability of organizations to access scalable, and highly secure computing power, whether for vital healthcare work or to keep unprecedented numbers of employees online and productive from home are some of the critical factors owing to the growth of the market in this situation.
• Hospital networks, pharmaceutical companies, and research labs are using AI-enabled IoT devices to care for patients, explore treatments, and mitigate the impacts of COVID-19 in many other ways COVID-19 pandemic positively impacted the overall economy of the AI in the IoT market.
• Moreover, virtual desktop utilities played a crucial role in facilitating remote working during the period, as these tools provided cost-effective management and working solutions for employees. Such factors further supported the growth of the AI in IoT market during the period.

Top Key Players of the Global Artificial Intelligence Things Market

• NVIDIA (U.S)
• IBM (U.S)
• MICROSOFT (U.S)
• AMAZON (U.S)
• GOOGLE (U.S)
• ALPHABET (U.S)
• DATA ROBOT, INC.  (U.S)
• DEEPMIND (UK)
• APPLE (U.S)
• SIEMENS (GERMANY)
• ORACLE (U.S)
• SALESFORCE (U.S)
• APPIER (TAIWAN)
• GENERAL ELECTRIC COMPANY (U.S)
• PONY.AI (U.S)
• ALIBABA CLOUD (CHINA)
• ROCKWELL AUTOMATION (U.S)
• FRACTAL ANALYTICS (U.S)
• ELEMENT AI (CANADA)
• SAP (GERMANY)
• PEOPLE.AI (U.S)
• H2O.AI (U.S)
• CLARIFAI (CANADA)
• OPENAI (U.S)

Key Industry Development of Global Artificial Intelligence Things Market

•  In March 2023, Apple acquired a Mountain View-based startup, Wave One, that was developing AI algorithms for compressing video. But Wave One’s website was shut down around January, and several former employees, including one of Wave One’s co-founders, now work within Apple’s various machine learning groups.
• In June 2023, Oracle announced its plans to develop powerful, generative AI services for organizations worldwide. Oracle provides native generative AI services to help organizations automate end-to-end business processes, improve decision-making, and enhance customer experiences, in collaboration with Cohere, a leading AI platform for enterprise. Built on Oracle Cloud Infrastructure (OCI) and leveraging Oracle's unique Supercluster capabilities, Oracle is generative.
• In March 2022, Microsoft announced the completion of its acquisition of Nuance Communications Inc. (Nasdaq: NUAN), a leader in conversational AI and ambient intelligence across industries including healthcare, financial services, retail, and telecommunications.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. ANALYSIS OF THE IMPACT OF COVID-19
       1. Impact On The Overall Market
       2. Impact On The Supply Chain
       3. Impact On The Key Manufacturers
       4. Impact On The Pricing
       5. Post COVID Situation
   11. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   12. ECOSYSTEM
6. ARTIFICIAL INTELLIGENCE THINGS MARKET BY TECHNOLOGY (2016-2030)
   1. ARTIFICIAL INTELLIGENCE THINGS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. MACHINE LEARNING
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. DEEP LEARNING
   5. AMBIENT INTELLIGENCE
   6. SMART OBJECTS
   7. BIG DATA
   8. OTHERS
7. ARTIFICIAL INTELLIGENCE THINGS MARKET BY APPLICATION (2016-2030)
   1. ARTIFICIAL INTELLIGENCE THINGS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SMART RETAIL
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SMART OFFICE BUILDINGS
   5. VIDEO-BASED TRAFFIC MANAGEMENT
   6. AUTONOMOUS VEHICLE
   7. HEALTH CARE
8. ARTIFICIAL INTELLIGENCE THINGS MARKET BY COMPONENTS (2016-2030)
   1. ARTIFICIAL INTELLIGENCE THINGS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
      1. PLATFORM
      2. Introduction And Market Overview
      3. Historic And Forecasted Market Size in Value (2016 – 2030F)
      4. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      5. Key Market Trends, Growth Factors And Opportunities
      6. Geographic Segmentation Analysis
   3. SOFTWARE
   4. SERVICE
9. ARTIFICIAL INTELLIGENCE THINGS MARKET BY END USERS (2016-2030)
   1. ARTIFICIAL INTELLIGENCE THINGS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BFSI
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. IT & TELECOM
   5. INSURANCE
   6. AUTONOMOUS VEHICLES
   7. PERSONALIZED FITNESS
   8. OTHER
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. ARTIFICIAL INTELLIGENCE THINGS Market Share By Manufacturer (2022)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. NVIDIA (U.S)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. IBM (U.S)
    4. MICROSOFT (U.S)
    5. AMAZON (U.S)
    6. GOOGLE (U.S)
    7. ALPHABET (U.S)
    8. DATA ROBOT, INC.  (U.S)
    9. DEEPMIND (UK)
    10. APPLE (U.S)
    11. SIEMENS (GERMANY)
    12. ORACLE (U.S)
    13. SALESFORCE (U.S)
    14. APPIER (TAIWAN)
    15. GENERAL ELECTRIC COMPANY (U.S)
    16. PONY.AI (U.S)
    17. ALIBABA CLOUD (CHINA)
    18. ROCKWELL AUTOMATION (U.S)
    19. FRACTAL ANALYTICS (U.S)
    20. ELEMENT AI (CANADA)
    21. SAP (GERMANY)
11. GLOBAL ARTIFICIAL INTELLIGENCE THINGS MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Technology
       5. Historic And Forecasted Market Size By Application
       6. Historic And Forecasted Market Size By Components
       7. Historic And Forecasted Market Size By End Users
       8. Historic And Forecasted Market Size By Segment5
       9. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies