The Asia Pacific Artificial Intelligence of Things (AIoT) Market would witness market growth of 27.9% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Artificial Intelligence of Things (AIoT) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7,376.6 million by 2031. The Japan market is experiencing a CAGR of 27.1% during (2024 - 2031). Additionally, The India market would exhibit a CAGR of 28.8% during (2024 - 2031).
The market is further enhanced by a rise in investments directed towards research and development. Technology companies, startups, and governments are pouring resources into AIoT innovation, leading to breakthroughs in hardware, software, and analytics. These investments are driving down costs and making AIoT solutions more accessible to businesses of all sizes. Furthermore, partnerships between technology providers and industry stakeholders are facilitating the creation of bespoke AIoT applications designed to meet particular requirements.
The necessity for real-time data analytics serves as a principal catalyst for the adoption of Artificial Intelligence of Things (AIoT). This capability allows businesses to instantaneously collect, process, and act on data, enhancing operational efficiency and customer experiences. In retail, AIoT systems analyze data from smart devices like shelves and cameras to understand consumer behavior and preferences, enabling personalized marketing and efficient inventory management. For example, real-time insights allow retailers to dynamically adjust promotions or restock items automatically, improving sales and reducing waste.
South Korea's manufacturing sector is a significant contributor to AIoT adoption, with the industry's added value projected to grow from $437 billion in 2018 to $678 billion by 2030, according to industry experts. AIoT technologies are transforming South Korea’s manufacturing landscape through applications such as smart robotics, IoT-enabled production monitoring, and AI-driven supply chain optimization. As South Korea continues to concentrate on digital transformation and smart manufacturing, AIoT is expected to aid in driving efficiency, innovation, and global competitiveness across its industries. Therefore, with a strong focus on automation, efficiency, and sustainability, Asia Pacific is solidifying its position as a global leader in the market.
Free Valuable Insights: The Global Artificial Intelligence of Things (AIoT) Market is Predict to reach USD 95.31 Billion by 2031, at a CAGR of 26.9%
Based on Deployment, the market is segmented into Cloud and On-Premises. Based on Component, the market is segmented into Hardware, Software, and Services. Based on End use, the market is segmented into B2B, B2G, and B2C. Based on Application, the market is segmented into Video Surveillance, Supply Chain Management, Inventory Management, Predictive Maintenance, and Other Application. Based on Vertical, the market is segmented into Manufacturing, Automotive, Healthcare, Retail, BFSI, Logistics, and Agriculture & Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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