Cloud Computing In Industrial IoT AI Market
How Is the Cloud Computing In Industrial IoT AI Market Projected to Grow, and What Is Its Market Size?
The cloud computing in industrial IoT AI market has seen rapid growth in recent years. It is expected to grow from $98.34 billion in 2024 to $116.34 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.3%. This growth can be attributed to the rise of the industrial Internet of Things (IoT), artificial intelligence (AI) applications, and an increasing need for real-time data processing and predictive analytics across industries.
The cloud computing in industrial IoT AI market is set to reach $231.77 billion by 2029 at a CAGR of 18.8%. Growth factors include integration with electronic health records, early intervention strategies, and the expansion of remote patient monitoring. Trends like digital therapeutics adoption and collaboration with research institutions will be crucial.
What Are the Key Drivers Behind the Growth of the Cloud Computing In Industrial IoT AI Market?
The growing adoption of cloud computing is expected to accelerate the growth of cloud computing in the industrial IoT AI market. Cloud computing, the internet-based delivery of computing services, enables faster innovation, flexible resources, and cost-effective solutions by providing on-demand access to servers, storage, software, and other resources. The integration of cloud computing in industrial IoT AI enhances demand by offering scalable infrastructure, real-time analytics, and efficient data storage for seamless integration. Cloud architectures enable IoT devices’ data generated by AI platforms to be stored, processed, and analyzed seamlessly. For example, in December 2023, Eurostat, a UK-based intergovernmental organization, reported that 45.2% of EU enterprises purchased cloud computing services, mainly for hosting emails, storing files, and other tasks, representing a 4.2% increase from 2021. The highest adoption was seen among large businesses, with 77.6% purchasing cloud services in 2023, reflecting a 6 percentage point increase since 2021. Thus, the increasing adoption of cloud computing is driving the growth of cloud computing in the industrial IoT AI market.
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Who Are the Major Industry Players Fueling Cloud Computing In Industrial IoT AI Market Expansion?
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)
Which Key Developments Are Influencing the Cloud Computing In Industrial IoT AI Market?
Leading companies in cloud computing for the industrial IoT AI market are focusing on developing new solutions like cloud-based development environment platforms to gain an edge. A cloud-based development environment is a centralized platform that enables software teams to collaborate, build, test, and deploy applications. For example, in December 2023, Renesas Electronics Corporation, a Japanese semiconductor company, launched the AI Workbench, a cloud-based virtual environment that allows developers to design, simulate, and test software for a range of applications. This platform is designed for automotive AI engineers to develop and test software using Renesas’ scalable automotive SoCs and microcontrollers. Built on Microsoft Azure Cloud, the platform will also support other cloud vendors, enabling customers to integrate AI Workbench into their development workflows.
How Is the Segmentation of the Cloud Computing In Industrial IoT AI Market Defined?
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
Subsegments:
1) By Hybrid: Hybrid Cloud Solutions, Multi-Cloud Strategies, Edge Computing Integration
2) By Private: Dedicated Private Cloud Solutions, Managed Private Cloud Services, On-Premises Private Cloud Infrastructure
3) By Public: Public Cloud Platforms, SaaS (Software As A Service) Solutions, Public Cloud IoT Services
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What Is the Leading Region in the Cloud Computing In Industrial IoT AI Market?
North America was the largest region in the cloud computing in industrial IoT AI market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud computing in industrial iot ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Cloud Computing In Industrial IoT AI Global Market Report?
– Market Size Analysis: Analyze the Cloud Computing In Industrial IoT AI Market size by key regions, countries, product types, and applications.
– Market Segmentation Analysis: Identify various subsegments within the Cloud Computing In Industrial IoT AI Market for effective categorization.
– Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
– Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
– Market Contribution: Evaluate contributions of different segments to the overall Cloud Computing In Industrial IoT AI Market growth.
– Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
– Industry Challenges: Analyze challenges and risks affecting the Cloud Computing In Industrial IoT AI Market.
– Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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