Artificial Intelligence (AI) and the Internet of Things (IoT) are two of the most impactful emerging technologies of our times. Both of these technologies individually unlock huge potential for improved efficiency and enhanced value propositions. In this report we provide our quantitative assessment of the opportunity associated with AIoT.
The benefits of combining AI and IoT to become AIoT are profound, resulting in more efficient and effective IoT solutions and also increasing the market opportunity for IoT. Conversely, AIoT markets represent a significant opportunity for AI domain specialists, ushering in a new wave of innovative AIoT- and Edge AI-focussed vendors.
For the purposes of this report, AIoT devices are defined as the subset of IoT devices that has on-board processing supporting one, or more, AI Use Case. An individual AIoT device may support several different AI Use Cases, each of which is counted as a separate AI Use Case instance. Often, we refer to an ‘AI Use case on board an AIoT device’ as simply an ‘AIoT Use Case’. Therefore, the total count of AI Use Case instances on board AIoT devices significantly exceeds the total count of AIoT devices.
Both perspectives are relevant for different types of vendor. A device vendor needs to consider the types of AI Use Case that his device must support. A vendor specialising in support for specific AI Use Cases needs to consider the types of AIoT application hardware that may host her proposition.
The report contains extensive analysis of the AIoT opportunity, inclluding the numbers of AIoT connections, the key applications, the AI use cases that will be applied, and the geographic distribution, as well as detailed analysis of key AI use cases. It also includes a data table.
