AI in IoT Market 2023 | Present Scenario and Growth Prospects 2033
The AI in IoT market is anticipated to expand its roots at a steady CAGR of 6.4% between 2023 and 2033. The market is expected to have a market share of US$ 153.15 billion by 2033 while it is likely to be valued at US$ 82.1 billion in 2023 The increased automation across the sectors, higher adoption of smart devices, and deployment of 5G networks are driving the market growth. Furthermore, the new technological advancements in automotive, defense, and industrial manufacturing have garnered market growth. The expansion of Industries 4.0 along with its elements like artificial intelligence, machine learning, cloud computing, and the Internet of Things is the future. The new gadgets, industrial machines, and even a full range of home appliances are garnering market growth. The pandemic has pushed enterprises to re-think their human strategy with IoT deployment and market maturation is flourishing the market growth. Alongside this, real-time work tracking, higher efficiency, and better