Artificial Intelligence in Big Data Analytics and IoT Markets, 2019 – Global Market will Exceed $24Bn by 2024

Press Releases

May 24, 2019

DUBLIN, May 24, 2019 /PRNewswire/ — The “Artificial Intelligence in Big Data Analytics and IoT: Market for Data Capture, Information and Decision Support Services 2019-2024” report has been added to ResearchAndMarkets.com’s offering.

The Internet of Things (IoT) in consumer, enterprise, industrial, and government market segments has very unique needs in terms of infrastructure, devices, systems, and processes. One thing they all have in common is that they each produce massive amounts of data, most of which is of the unstructured variety, requiring big data technologies for management.

Artificial Intelligence (AI) algorithms enhance the ability for big data analytics and IoT platforms to provide value to each of these market segments. The author sees three different types of IoT Data: (1) Raw (untouched and unstructured) Data, (2) Meta (data about data), and (3) Transformed (valued-added data). Artificial Intelligence (AI) will be useful in support of managing each of these data types in terms of identifying, categorizing, and decision making.

AI coupled with advanced big data analytics provides the ability to make raw data meaningful and useful as information for decision-making purposes. 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. In many cases, the data itself, and actionable information will be the service.

This report evaluates various AI technologies and their use relative to analytics solutions within the rapidly growing enterprise and industrial data arena. The report assesses emerging business models, leading companies, and solutions. The report also analyzes how different forms of AI may be best used for problem solving. The report also evaluates the market for AI in IoT networks and systems. The report provides forecasting for unit growth and revenue for both analytics and IoT from 2019 – 2024.

Report Benefits:

Forecasts for AI in predictive analytics 2019 to 2024
Identify highest potential AI technology area opportunities
Understand AI strategies and initiatives of leading companies
Learn the optimal use of AI for smart predictive analytics in IoT data
Understand the AI in Big Data, Analytics, and IoT ecosystem and value chain
Identify opportunities for AI in Analytics for IoT and other unstructured data

Select Report Findings:

Global market for AI in big data and IoT as a whole will exceed $24B by 2024
Embedded AI in support of IoT Things/Objects will reach $4.6B globally by 2024
Overall market for AI in big data and IoT will be led by Asia Pac followed by North America
AI in industrial machines will reach $415M globally by 2024 with collaborative robot growth at 42.5% CAGR
AI in autonomous weapon systems will reach $120M globally by 2024 with AI in military robotics growing at 40.3% CAGR
Machine learning will become a key AI technology to realize the full potential of big data and IoT, particularly in edge computing platforms
Top three segments will be: (1) Data Mining and Automation, (2) Automated Planning, Monitoring, and Scheduling, and (3) Data Storage and Customer Intelligence