AI in IoT Market is predicted to reach USD ~60.8 billion at a CAGR of 28.20% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global AI in IoT Market” that contains information from 2018 to 2032. The AI in IoT market is estimated to register a CAGR of 28.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global AI in IoT market— Cisco Systems, Inc., Verizon, Ericsson, Sierra Wireless, Orange Business Services, Telefónica, Huawei, Moeco, Telit, and Hologram.

AI in IoT Market Highlights

The global AI in IoT market is accounted to register a CAGR of 28.20% during the forecast period and is estimated to reach USD 60.8 Billion by 2032.

The Internet of Things (IoT) and artificial intelligence (AI) are combined in this market to enable automation and wise decision-making. It entails integrating AI algorithms and machine learning models into IoT platforms and devices so that they can evaluate data, anticipate the future, and act independently. The demand for automation across many industries, the rising penetration of IoT devices, and the requirement for real-time insights from IoT data are the key factors driving this market.

Segment Analysis

The global AI in IoT market has been segmented based component, technologies and end user.

On the basis of component, the market is segmented into platforms, software solutions, and services. In 2022, the segment of software held the majority of the market. Customers can get Al in loT software solutions from the majority of major providers. These software programmes are made to manage huge amounts of data, together with its security and privacy, and to address interoperability issues brought on by various heterogeneous devices.

Based on technologies, the global AI in IoT market has been segmented into ML and Deep Learning and NLP. In 2022, the ML and deep learning category dominated the whole market. ML has the potential to develop into a powerful analytical tool for massive data sets. The majority of the noise gathered by IoT devices can be filtered using ML and edge computing, leaving the pertinent data for edge and cloud analytical engines to process.

Based on end user, the global AI in IoT market has been segmented into manufacturing, energy and utilities, transportation and mobility, BFSI, government and defense, retail, healthcare and life sciences, telecom, and others (agriculture, education, telecom, and tourism and hospitality). In 2022, the worldwide AI in IoT market was dominated by the medical and life sciences sectors. By gathering and analysing high-frequency Internet of Things (IoT) sensor data and computer vision (AI), healthcare organisations can enhance human performance on jobs like making diagnostic or therapeutic judgements, assisting clinicians in treating diseases, etc.

Regional Analysis

The global AI in IoT market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe AI in IoT market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The AI in IoT market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World AI in IoT market comprises of Middle East, Africa, and Latin America.

The largest market share for AI in IoT was maintained by the North American regional sector. This is owing to the wide-scale adoption of AI and IoT technologies in many industries, like automotive and transportation, manufacturing, retail, and healthcare, which is one reason for the growth of the market studied in this region. North America is one of the leading regions with research into developing AI and IoT applications in new end-user industries.

Moreover, the Europe market has been persistently growing over the forecast period. The region offers high potential for vendors to grow on account of high investments made by government authorities in the sector. Europe is additionally blessed with the presence of leading players, fueling the Al in loT market in the region.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. A number of private and public sector enterprises are allocating resources towards the development of this field, fueling the market in this region. Moreover, China’s AI in IoT market held the largest market share, and the Indian AI in IoT market was the fastest growing market in the Asia-Pacific region

Furthermore, the rest of the world's AI in IoT market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the increasing adoption of IoT devices, the demand for real-time insights from IoT data, and the need for automation in various industries. Brazil, Mexico, and Argentina are key markets for AI in IoT in the region.

Key Findings of the Study

• The global AI in IoT market is expected to reach USD 60.80 Billion by 2032, at a CAGR of 28.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the high investments made by government authorities


• Based on component, the software segment was attributed to holding the largest market in 2022.


• Cisco Systems, Inc., Verizon, Ericsson, Sierra Wireless, Orange Business Services, Telefónica, Huawei, Moeco, Telit, and Hologram