Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Global AIoT Platforms Market by Offering (Solutions (Device Management, Application Management, Connectivity Management) and Services), Vertical (Manufacturing, Healthcare, Retail) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The AIoT platforms market is estimated at USD 5.0 billion in 2023 and is projected to reach USD 24.9 billion by 2028, at a CAGR of 37.7% from 2023 to 2028.

The presence of various key players in the ecosystem has led to competitive and diverse market. Government initiatives to establish smart cities is expected to drive the adoption of the AIoT platforms market in the future.

By Solutions, device management segment to hold the largest market size during the forecast period

The device management platform assists organizations in managing, tracking, securing, and sustaining the abundant devices that are used in the organization. It also helps in managing devices' content, and configuration; and assists in policy and compliance management. The policy and compliance management feature of the device management platform helps enforce corporate policies on the devices used so as to ensure the required level of security. The configuration management feature of the device management platform helps in configuring new devices to the system and regularly monitoring the system.

In June 2022, SmartCow launched FleetTrackr, an AIoT device management platform for central management of edge AI systems to simplify deployment. This platform enables administrators to safely and completely provision, manage, check on, and upgrade thousands of devices.

Based on services, the support and maintenance services is expected to register the fastest growth rate during the forecast period

Support and maintenance services involve the assistance provided to the installed software. These services are offered by third-party service providers as well as vendors, who facilitate clients to upgrade and maintain their AI-based IoT ecosystem post-implementation. Support and maintenance include providing upgradations to AIoT platforms and assistance for solving issues in products, among other functions. As the number of AIoT deployment increases, the demand for support and maintenance services is also expected to increase. Vendors, such as GE and PTC, offer support services to enterprises in the market.

Asia Pacific to register the highest growth rate during the forecast period

Asia Pacific comprises nations with rapid technological development, such as China, Japan, and India. Asia Pacific is home to several developing countries that are experiencing rapid urbanization. This offers enormous business opportunities for AIoT platforms vendors even while presenting grave challenges for sustainable development. Verticals, such as transportation and mobility, energy and utilities, and healthcare and life sciences, are expected to adopt AIoT platforms and software solutions and services at the highest rate in the region.

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Key Attributes:

Report AttributeDetails
No. of Pages235
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$5 Billion
Forecasted Market Value (USD) by 2028$24.9 Billion
Compound Annual Growth Rate37.7%
Regions CoveredGlobal


Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Aiot Platforms Market, by Offering
6.1 Introduction
6.2 Solutions
6.2.1 Device Management
6.2.1.1 Growing Need for Aiot Platforms to Manage Information
6.2.2 Application Management
6.2.2.1 Increasing Adoption of Aiot Solutions to Design and Manage Applications
6.2.3 Connectivity Management
6.2.3.1 Growing Use of Aiot Solutions in Managing Many IoT Devices Simultaneously
6.3 Services
6.3.1 Professional Services
6.3.1.1 Deployment and Integration
6.3.1.1.1 Rising Adoption of Deployment and Integration Solutions for Managing Workflows
6.3.1.2 Support and Maintenance
6.3.1.2.1 Use of Aiot Platforms for Inspection, Repair, and Replacement of Systems
6.3.1.3 Training and Consulting
6.3.1.3.1 Use of Aiot in Training and Consulting Services to Help Clients Achieve Robust Business Mechanisms
6.3.2 Managed Services
6.3.2.1 Increased Adoption of Outsourced Managed Services in Aiot Ecosystem

7 Aiot Platforms Market, by Vertical
7.1 Introduction
7.2 Banking, Financial Services, and Insurance (Bfsi)
7.2.1 Fraud and Risk Management
7.2.1.1 Rising Adoption of Aiot Solutions for Handling Huge Amounts of Critical Data
7.2.2 Investment Prediction
7.2.2.1 Ai-Powered Services Facilitate Effective Investment Decisions
7.2.3 Payment Transaction Security
7.2.3.1 Rising Use of Aiot to Protect Sensitive Customer Data
7.2.4 Others
7.3 Manufacturing
7.3.1 Predictive Maintenance
7.3.1.1 Growing Use of Aiot in Monitoring Machines in Manufacturing Centers
7.3.2 Process Optimization
7.3.2.1 Growing Urgency to Automate Production Processes to Boost Use of Aiot
7.3.3 Supply Chain Management
7.3.3.1 Enhanced Supply Chain Management Guaranteed Through Use of Aiot and Big Data Analytics
7.3.4 Others
7.4 Healthcare
7.4.1 Remote Patient Monitoring
7.4.1.1 Growing Adoption of Ai-Infused Software for Real-Time Monitoring of Patient Health Conditions
7.4.2 Personalized Treatment
7.4.2.1 Aiot Solutions to Help Doctors Personalize Treatment
7.4.3 Clinical Apps
7.4.3.1 Growing Need for Aiot Services for Effective Diagnosis and Treatment
7.4.4 Others
7.5 Energy & Utilities
7.5.1 Real-Time Energy Monitoring in Retail, Residential, and Commercial Spaces
7.5.1.1 Increasing Use of Aiot Platforms for Real-Time Energy Monitoring
7.5.2 Smart Grid Management
7.5.2.1 Adoption of Aiot Solutions to Build Intelligent Utility Grids
7.5.3 Power Usage Analytics
7.5.3.1 Aiot Platforms Enable Organizations in Power Sector Offer Personalized Customer Service
7.5.4 Others
7.6 Retail
7.6.1 Smart Stores
7.6.1.1 Growing Need to Enhance Customer Experience in Smart Stores to Fuel Adoption of Ai Technology
7.6.2 Inventory Planning
7.6.2.1 Aiot Enables Retailers Analyze Trends and Predict Sales
7.6.3 Upselling and Cross-Channel Marketing
7.6.3.1 Active Use of Ai Technology in Promotional Activities
7.6.4 Others
7.7 Transportation & Logistics
7.7.1 Connected Vehicles
7.7.1.1 Growing Technological Advancements in Ai and IoT Paving Way for Connected Vehicles
7.7.2 Fleet Management
7.7.2.1 Increasing Adoption of Ai-Infused Fleet Management Systems for Personalized Driving Experience
7.7.3 Asset Tracking and Performance Management
7.7.3.1 Growing Need for Aiot Solutions to Reduce Operating Costs in Transportation Sector
7.7.4 Others
7.8 Other Verticals

8 Aiot Platforms Market, by Region

9 Competitive Landscape

10 Company Profiles

11 Adjacent Markets

12 Appendix

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/tpkdwb

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment