According to a new report, published by KBV research, The Global Artificial Intelligence of Things (AIoT) Market size is expected to reach $95.31 billion by 2031, rising at a market growth of 26.9% CAGR during the forecast period.
The On-Premises segment obtained a CAGR of 28.3% during (2024 - 2031). On-premises AIoT solutions provide organizations with complete control over their data, ensuring compliance with regulatory standards and minimizing the risks of data breaches. This deployment model is particularly favored by sectors such as healthcare, defense, and finance, where sensitive data handling is critical. The reliability and customization options offered by on-premises systems also drive their adoption among businesses with specific operational needs and resources for maintaining in-house infrastructure.
The Hardware segment is generating the maximum revenue in the Global Artificial Intelligence of Things (AIoT) Market by Component in 2023; thereby, achieving a market value of $53.52 billion by 2031. The hardware sector is propelled by the growing integration of Internet of Things (IoT) devices, including sensors, smart meters, and artificial intelligence-enabled processors, which are crucial for the acquisition and processing of real-time data. The rise of edge computing solutions, which reduce latency and enhance data processing capabilities closer to the source, has further fueled demand for advanced hardware components.
The B2G segment is experiencing a CAGR of 25.7% during (2024 - 2031). The B2G segment is fueled by government initiatives aimed at modernizing public infrastructure, enhancing urban development, and improving public safety. Governments across the globe are deploying AIoT technologies in smart city projects, intelligent transportation systems, and environmental monitoring to enhance the quality of life and operational efficiency. The adoption of AIoT for defense and national security applications, such as surveillance and disaster management, further accelerates growth in this segment.
The Video Surveillance segment is leading the Global Artificial Intelligence of Things (AIoT) Market by Application in 2023; thereby, achieving a market value of $29.35 billion by 2031. The increasing need for advanced security and monitoring systems across residential, commercial, and industrial sectors drives the video surveillance segment. AIoT-powered surveillance solutions integrate AI algorithms with IoT devices, enabling real-time video analysis, facial recognition, and threat detection. Rising concerns about safety, crime prevention, and unauthorized access are fueling demand for these intelligent surveillance systems.
The Healthcare segment exhibits a CAGR of 26.4% during (2024 - 2031). Remote patient monitoring devices, wearable health trackers, and smart diagnostic tools powered by AIoT provide real-time health data and enable early detection of medical conditions. The increasing demand for telemedicine and personalized healthcare solutions has further boosted the adoption of AIoT technologies. Additionally, AIoT systems help optimize hospital resource allocation and streamline workflows, addressing the rising pressure on healthcare facilities to deliver quality care efficiently.
Full Report: https://www.kbvresearch.com/artificial-intelligence-of-things-market/
The North America region dominated the Global Artificial Intelligence of Things (AIoT) Market by Region in 2023; thereby, achieving a market value of $35.91 billion by 2031. The Europe region is expected to witness a CAGR of 26.4% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 27.9% during (2024 - 2031).
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