According to a new report, published by KBV research, The Global AIoT Platforms Market size is expected to reach $31.4 billion by 2029, rising at a market growth of 35.8% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 38.5% during (2023 - 2029). There is an increasing demand for AIoT platform solutions, driven by the imperative to improve risk management capabilities, optimize operations, minimize downtime, enable intelligent real-time process monitoring, and enhance data management and analysis. Various prominent platform providers provide integrated IoT platforms with AI functionalities, including analytics based on machine learning.
The BFSI segment acquired maximum revenue share in the Global AIoT Platforms Market by Vertical 2022 thereby, achieving a market value of $8.9 billion by 2029. Banking services like mobile banking, e-banking, and real-time money transfers are now available from banks, allowing customers to use them whenever they want due to shifting customer preferences, technological advancements, and rising risks of fraudulent banking activities. Artificial intelligence in banking helps to identify hazards brought on by fraudulent activity, reduce such risks, and enhance compliance.
The North America market dominated the Global AIoT Platforms Market by Region 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $11.7 billion by 2029. The Europe market is poised to grow at a CAGR of 35.2% during (2023 - 2029). Additionally, The Asia Pacific market would witness a CAGR of 36.5% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/aiot-platforms-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, Intel Corporation, Oracle Corporation, Hewlett-Packard enterprise Company, Cisco Systems, Inc., Google LLC (Alphabet Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), NXP Semiconductors N.V. and Sharp Corporation (Hon Hai Precision Industry Co., Ltd.).
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