AIoT Market Share, Size, Demand, Revenue, Outlook and Future Challenges 2034: SPER Market Research
AIoT refers to the integration of AI capabilities into IoT systems and devices, which allows these interconnected items to gather, analyse, and respond to data autonomously or semi-autonomously. This convergence improves the capabilities of traditional IoT systems by introducing intelligence, predictive analytics, and decision-making capabilities at all levels of the IoT architecture, from edge devices to cloud platforms.
According to SPER market research, ‘Global AIoT Market Size- By Component, By Deployment, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global AIoT Market is predicted to reach 2737.44 billion by 2034 with a CAGR of 31.91%.
Drivers:
Increasing government initiatives in digital transformation are expected to boost market growth. Governments worldwide see AIoT technologies as ways to improve efficiency, innovation, and public services. By funding smart city projects and digital infrastructure, they promote AIoT adoption. These initiatives focus on combining AI and IoT to enhance resource management, transportation, and healthcare.
The growing emphasis on energy efficiency and sustainability also drives AIoT market growth. With rising concerns about climate change, businesses and governments prioritize technologies that cut energy use. AIoT solutions help achieve sustainability goals through smarter energy management and automation, leading to increased investment across various sectors.
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Restraints:
The market’s expansion is being slowed back by a lack of qualified workers with experience in AIoT platforms. Finding experts with the requisite technical expertise in both AI and IoT technologies is a difficulty for businesses looking to deploy AIoT solutions. Organisations’ attempts to innovate and optimise operations are hampered by this skills gap, which restricts their capacity to fully utilise AIoT capabilities. Businesses may find it difficult to successfully integrate AI with IoT devices without skilled staff, which could lead to underutilisation of these technologies and lost chances for increased productivity and efficiency.
North America had a large market share in 2024, thanks to its strong technology infrastructure, which includes advanced IT systems and high-performance computing. The region is home to major tech companies like Google LLC and Microsoft, as well as a dynamic start-up scene that boosts innovation in AI and IoT. Major investments in research and development, along with partnerships with universities, support the growth of advanced AIoT solutions. The healthcare sector is quickly using AIoT technologies, backed by government programs that promote telehealth and digital health solutions.
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