Description
The combination of Artificial Intelligence (AI) and the Internet of Things (IoT) has the potential to dramatically accelerate the benefits of digital transformation for consumer, enterprise, industrial, and government market segments. Mind Commerce sees the Artificial Intelligence of Things (AIoT) as transformational for both technologies as AI adds value to IoT through machine learning and decision making and IoT adds value to AI through connectivity and data exchange. The AIoT market constitutes solutions, applications, and services involving AI in IoT systems and IoT support of AI solutions.
AIoT is just beginning to become part of the ICT lexicon as the possibilities for the former adding value to the latter are only limited by the imagination. With AIoT, AI is embedded into infrastructure components, such as programs, chipsets and edge computing, all interconnected with IoT networks. APIs are then used to extend interoperability between components at the device level, software level and platform level. These units will focus primarily on optimizing system and network operations as well as extracting value from data.
AIoT Market Dynamics
While early AIoT market solutions are rather monolithic, it is anticipated that AIoT integration within businesses and industries will ultimately lead to more sophisticated and valuable inter-business and cross-industry solutions. These solutions will focus primarily upon optimizing system and network operations as well as extracting value from industry data through dramatically improved analytics and decision making processes.
As IoT networks proliferate throughout every major industry vertical, there will be an increasingly large amount of unstructured machine data. The growing amount of human-oriented and machine generated data will drive substantial opportunities for AI support of unstructured data analytics solutions. Data generated from IoT supported systems will become extremely valuable, both for internal corporate needs as well as for many customer-facing functions such as product life cycle management.
AIoT Market is about (1) AI providing Learning and Decision Making to IoT and (2) IoT providing Connectivity and Data Exchange for AI Algorithms
The use of machine learning and other AI tools will facilitate advanced data analytics that will derive useful information from raw data. While early solutions are rather monolithic, it is anticipated that the AIoT market will engender integration within industries that will ultimately lead to more sophisticated and valuable inter-business and cross-industry solutions.
These solutions will focus primarily upon optimizing system and network operations as well as extracting value from industry data through dramatically improved analytics and decision making processes. AIoT solutions improve operational effectiveness and the value of machine-generated data. Because of this AIoT market solutions are destined to become an integral component of business operations including supply chains, sales and marketing processes, product and service delivery and support models.
AI will add significant value to IoT network supported applications for decision making, especially in the area of streaming data and real-time analytics associated with edge computing networks. Real-time data will be a key value proposition for all use cases, segments, and solutions. The ability to capture streaming data, determine valuable attributes, and make decisions in real-time will add an entirely new dimension to service logic. In many cases, the data itself, and actionable information will be the product, often delivered in a Data as a Service market (DaaS) model.
The use of AI for decision making in IoT and data analytics will be crucial for efficient and effective decision making, especially in the area of streaming data and real-time analytics associated with edge computing networks. Real-time data will be a key value proposition for all use cases, segments, and solutions. The ability to capture streaming data, determine valuable attributes, and make decisions in real-time will add an entirely new dimension to service logic and thus provide demonstrative value within the AIoT market.
In many cases, the data itself, and actionable information will be the service. AIoT market infrastructure and services will therefore be leveraged to achieve more efficient IoT operations, improve human-machine interactions and enhance data management and analytics, creating a foundation for IoT Data as a Service (IoTDaaS) and AI based Decisions as a Service.
AIoT Market Report
This report provides a multi-dimensional view into the integrated AI+IoT market including analysis of embedded devices and components, embedded software, and AI platforms. This research also assesses AI support of IoT hardware, software, and services including embedded IoT and non-IoT devices, embedded components (including AI chipsets), embedded software and AI platforms, and related services.
The report also evaluates leading solution providers involved in the AIoT market including hardware, software, integrated platforms, and services. The report includes quantitative analysis with forecasts covering AI technology and systems by type, use case, application, and industry vertical. Forecasts also cover each major market sector including consumer, enterprise, industrial, and government. This report also represents the most comprehensive research covering core IoT hardware, software, and firmware as well as supporting technologies such as AI in edge computing.
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