Press release
Cloud Computing In Industrial IoT AI Market Outlook 2024: Exclusive Report By The Business Research Company | Google LLC (Alphabet), Microsoft Corp., Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc.
Cloud Computing In Industrial IoT AI Market Characteristics
The Business Research Company offers in-depth market insights through Cloud Computing In Industrial IoT AI Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cloud computing in industrial iot ai market size has grown rapidly in recent years. It will grow from $82.39 billion in 2023 to $98.34 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to aging population demographics, rise in neurological disorders, advancements in cognitive science, increased mental health awareness, personalized medicine approaches.
The cloud computing in industrial iot ai market size is expected to see rapid growth in the next few years. It will grow to $194.73 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to integration with electronic health records (ehr), focus on early intervention, remote patient monitoring expansion, increasing mental health challenges, global health initiatives. Major trends in the forecast period include digital therapeutics adoption, technological advancements in ai and vr, digital health and telemedicine trends, collaboration with research institutions, gamification of cognitive training.
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Market Segmentation:
The cloud computing in industrial iot ai market covered in this report is segmented -
1) By Cloud Type: Hybrid, Private, Public
2) By Sensor Type: Optical Sensors, Pressure Sensors, Proximity Sensors, Temperature Sensors
3) By Model: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Software As A Service (SaaS)
4) By End-User: Energy, Healthcare, Manufacturing, Mining And Agriculture, Oil And Gas, Transportation
Major Driver - Cloud Computing Drives Growth In Industrial IoT AI Market
The increasing adoption of cloud computing is expected to propel the growth of cloud computing in the industrial IoT AI market going forward. Cloud computing is the internet-based delivery of computing services, providing faster innovation, flexible resources and cost-effective solutions by allowing users to access servers, storage, software and other resources on demand. Cloud computing in industrial IoT AI increases demand by offering scalable infrastructure, real-time analytics, and efficient data storage for seamless integration. Cloud architectures and services that power the Internet of Things (IoT) can store and process data generated by AI platforms on IoT devices, enabling seamless connectivity, data management, and advanced analytics. For instance, in December 2023, according to Eurostat, a UK-based intergovernmental organization, 45.2% of EU (European Union) enterprises purchased cloud computing services, mostly to host their email systems, store electronic files, and accomplish other tasks. Purchases of cloud computing services by EU enterprises increased by 4.2 percentage points in 2023 compared to 2021. The percentage of businesses that purchased cloud computing services was highest among large businesses, where 77.6% reported doing so in 2023-a growth of 6 percentage points from 2021. Therefore, the increasing adoption of cloud computing is driving the growth of cloud computing in the industrial IoT AI market.
Competitive Landscape:
Major companies operating in the cloud computing in industrial iot ai market report are Google LLC (Alphabet), Microsoft Corp., Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc. (AWS), Siemens AG, General Electric, Intel Corp., IBM Corp., Cisco Systems Inc., Oracle Corp., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Fujitsu Ltd., Salesforce Inc., Cority Software Inc., DXC Technologies, IROOTECH (Sany Group), Rockwell Automation, Wolters Kluwer N.V., Iron Mountain Inc., Advantech, PTC ThingWorx, LosantIOT Inc., Fogwing Cloud (Factana Computing Pvt)
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Top Trend - Advancements In Cloud Computing For Industrial IoT AI Market Through Technology Adoption
Major companies operating in cloud computing in the industrial IoT AI market are increasing their focus on developing new technological solutions, such as cloud-based development environment platforms, to gain a competitive edge in the market. A cloud-based development environment platform is a centralized platform for software development teams to collaborate, build, test, and deploy applications. For instance, in December 2023, Renesas Electronics Corporation, a Japan-based semiconductor manufacturing company, launched the AI Workbench, a cloud-based virtual environment that allows developers to design, simulate, and test software for a variety of applications. It is a virtual development environment that enables automotive AI engineers to design, simulate, and test software for a variety of applications using Renesas' scalable automotive SoCs (system-on-chip) and microcontrollers. The platform is built on the Microsoft Azure Cloud and will be supported by other cloud vendors, allowing customers to integrate AI Workbench functionality into their development workflow.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cloud Computing In Industrial IoT AI Market Characteristics
3. Cloud Computing In Industrial IoT AI Market Trends And Strategies
4. Cloud Computing In Industrial IoT AI Market - Macro Economic Scenario
5. Cloud Computing In Industrial IoT AI Market Size And Growth
…..
27. Cloud Computing In Industrial IoT AI Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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