Europe AIoT Platforms Market Size, Share & Industry Trends Analysis Report By Component, By Vertical (BFSI, Manufacturing, Retail, Healthcare, Energy & Utilities, Transportation & Logistics), By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Europe AIoT Platforms Market would witness market growth of 35.2% CAGR during the forecast period (2023-2029).
Several gadgets and programs can be added to the IoT and modified to accommodate voice communications. Hardware modules with a wireless LAN adapter and voice capabilities can connect to the cloud to provide AIoT functionality for devices without communications features or for embedded devices where loading libraries is challenging. In addition, client software libraries will be accessible to smartphones, PCs, tablets, and other gadgets that are already connected.
The time it takes for data to flow between devices to be processed and sent between devices can be reduced using an AIoT platform. With the aid of an AIoT platform, devices may learn from previous choices and choose wisely in the future. This makes it easy for them to manage complicated activities and vast volumes of data more effectively. Accidents and mistakes are less likely with improved device cooperation and communication.
In sectors like manufacturing and healthcare, this increased safety can be crucial. AIoT enables the quick creation and introduction of fresh apps and services. As a result, businesses continue to lead the way in innovation. Businesses may offer a better customer experience by utilizing AIoT through quicker reaction times, more accurate data, and increased personalization.
The Urban Platform initiative exemplifies how European cities promote better social outcomes through interaction aimed at enhancing knowledge and management within sizable amounts of city data, further establishing a link between the sharing of this data and the enhancement of city services via the European Innovation Partnership for Smart Cities & Communities (EIP SCC). In addition, the CAPSELLA project is a development in ICT for smart city urban management based on data technologies and sustainable agri-food systems. The growing smart city initiatives open up opportunities for applications of AIoT, thereby ensuring regional market growth.
The Germany market dominated the Europe AIoT Platforms Market by Country 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,144.3 million by 2029. The UK market is anticipated to grow at a CAGR of 34.1% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 36.2% during (2023 - 2029).
Based on Component, the market is segmented into Solution (Device Management, Connectivity Management, and Application Management) and Services. Based on Vertical, the market is segmented into BFSI, Manufacturing, Retail, Healthcare, Energy & Utilities, Transportation & Logistics and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide AIoT Platforms Market is Projected to reach USD 31.4 Billion by 2029, at a CAGR of 35.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Intel Corporation, Oracle Corporation, Hewlett-Packard enterprise Company, Cisco Systems, Inc., Google LLC (Alphabet Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), NXP Semiconductors N.V. and Sharp Corporation (Hon Hai Precision Industry Co., Ltd.).
Scope of the Study
Market Segments Covered in the Report:
- Device Management
- Connectivity Management
- Application Management
- Energy & Utilities
- Transportation & Logistics
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Microsoft Corporation
- Intel Corporation
- Oracle Corporation
- Hewlett-Packard enterprise Company
- Cisco Systems, Inc.
- Google LLC (Alphabet Inc.)
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- NXP Semiconductors N.V.
- Sharp Corporation (Hon Hai Precision Industry Co., Ltd.)
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