AIIoT Market Size is Expected to Reach US$130.10 Billion by 2030

Real-time data generated from IoT services is the key factor driving the AIIoT market size

The emergence of AIIoT has resulted in increased efficiency and productivity. AIIoT is enabling C-suite executives to reinvent their businesses by digitizing interactions and communications. The global AIIoT market is expected to grow from US$76.52 billion in 2021 and hit US$130.10 billion by 2030 exhibiting a 6.50% CAGR.

IoT and AI are two discrete innovations that significantly impact different industry verticals. While the Internet of Things(IoT) is the digital sensory system, AI transforms into the brain that settles on decisions that control the whole system. The powerful blend of AI and IoT – AIIoT provides intelligent and connected systems that are prepared for self-healing and self-correcting. The ability to get a lot of data has increased in the last 3-5 years. These advances bring along new risks and worries about security and privacy. Massive volumes of company proprietary information and user data are enticing targets for government elements and dark web hackers around the globe. There are likewise new responsibilities that come along with this expanded capability. Sensors would now be applied to everything. This presently infers vastly more data that can be gathered from every transaction or process in real-time.

IoT devices are leading this data collection process in customer service divisions, manufacturing environments, as well as consumer products in people's homes. Any device with a chipset can be connected to a network and start streaming large swaths of information every minute, every day. Complex algorithms currently enable predictive analytics from every possible point. Machine learning (ML), a subset of AI (Artificial Intelligence), continues with upgraded workflows and simplifies problem-solving for clients with each new collaboration.