In this constantly changing technological world, the number of devices getting connected are growing significantly thereby increasing the level of smartness in things around humans. This growth in the number of smart devices is contributing significantly to the growth of Intelligent IoT market. Intelligent things are not only enabling machine-to-machine communication but is providing features of a machine to person communication.
The companies are putting efforts to integrate all new technologies such as artificial intelligence, machine learning into the Internet of Things to expand technological capabilities. This integration is intelligent IoT which is providing capabilities such as context-based services and new user interaction where AI helps to understand user’s context and needs by combining gestures, voice, and face.
The intelligent IoT has paved its way into the market through the development of technologies such as automated vacuum cleaners, smart thermostat solutions, and self-driving vehicles. Vendors in the market are highly focusing on developing newer technologies in fields of security and access device, emotional analysis and facial recognition and many others. High investment in research and development and government initiatives are key trends in the market.
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Intelligent IoT Market: Drivers and Restraints
The integration of machine learning into the Internet of Things is providing various benefits such as improved operational efficiency, enhanced services, and superior user experience. It is also enabling vendors to expand their technological capabilities to provide an automated world experience. Factors such as smart cities project, technological advancement in various industry verticals are driving the growth of the market.
The high cost of the Internet of things and artificial intelligence infrastructure and lack of standardization are factors restraining the growth of the market. Also, new technologies demand highly skilled labors that can effectively deploy the latest technology in the market. Thus, lack of skilled labor in the developing regions is one of the major factor restraining the growth of intelligent IoT market.
Intelligent IoT Market: Competitive Landscape
Some of the key players operating in the Intelligent IoT market are Samsung Electronics Co. Ltd., IBM Corporation, Google, Cisco Systems, Inc., Oracle Corporation, Apple, Inc., Intel Corporation, Allied Telesis, SkyBell and Nest Labs.
Regional Overview
North America is expected to be the largest market for Intelligent IoT since a majority of Intelligent IoT vendors, such as IBM Corporation, and Google LLC are based in North America region. The market is also anticipated to grow in Europe and Japan region because companies like Samsung is investing highly in research and development to enhance intelligent IoT experience across the world.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Intelligent IoT Market: Segmentation
Segmentation based on components of Intelligent IoT in Market:
- Hardware
- Software
- Services
Segmentation based on industry in Intelligent IoT in Market:
- Education
- Manufacturing
- BFSI
- Healthcare
- IT & Telecommunication
- Energy
- Retail
- Transportation
- Others
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