Artificial Intelligence
AI in IoT Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)
New York, Aug. 10, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “AI in IoT Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06484267/?utm_source=GNW
The need to efficiently process vast volumes of real-time data generated from IoT devices, the growing demand for performance management appliances, and the need to reduce downtime and maintenance costs are the primary factors driving the market’s growth.
Key Highlights
IoT technology is essential for various organizations to digitally transform, thus, empowering them to upgrade the existing processes by creating and tracking new business models. More and more companies view IoT as an important element for business success, thus increasing its adoption. AI and IoT, both technologies, when combined, are creating intelligent machines that simulate rational behavior and support decision-making with little or no human interference. The growing emphasis on effective management of data generated from IoT devices to gain valuable insights and real-time monitoring to curate an enhanced customer experience are the key growth drivers for the market.
The retail industry is leveraging cloud AI in IoT-based services to augment customer experience programs and generate more customer-oriented products. For instance, in a smart retail environment, a camera system outfitted with computer vision capabilities can use facial recognition to recognize customers when they walk through the door. Suppose the system detects most customers walking into the store are Millennials. In that case, it can push out product advertisements or in-store specials that appeal to that demographic, therefore driving sales.?
Furthermore, most companies are shifting to the cloud from on-premise AI, owing to faster delivery time with low latency and real-time tracking, likely to foster the studied market growth during the forecast period?. For instance, Amazon Echo Amazon has introduced Web Services IoT, a managed cloud platform and lets devices connect securely to cloud applications and other devices. In February 2021, IBM and Red Hat announced a new collaboration to use a hybrid cloud designed to deliver an open, flexible, and more secure solution for manufacturers and plant operators that will drive real-time value from operations data from industrial IoT.
However, the lack of a skilled workforce and growing concerns regarding data security are some major factors restraining the studied market growth. It is crucial to ensure that the data is secure and in safe hands because AI and IOT collect sensitive and essential data from their users or clients. But since users have no idea when someone would attempt to access our private and sensitive data, security is always a concern with technology and restricting the market growth.
During the spread of Coronavirus, the ability for organizations to access scalable, dependable, and highly secure computing power, whether for vital healthcare work, to help students continue learning, or to keep unprecedented numbers of employees online and productive from home are some of the critical factors owing to the growth of the market in this situation. Hospital networks, pharmaceutical companies, and research labs are using AI-enabled IoT devices to care for patients, explore treatments, and mitigate the impacts of COVID-19 in many other ways. All of the above factors have accelerated the market’s growth rate in the short run and are expected to augment it further in the long term.
AI In IoT Market Trends
Healthcare Sector Expected to Witness Robust Market Growth
Healthcare organizations can improve human performance on tasks such as diagnostic or therapeutic decisions, supporting clinicians in treating diseases, etc., by collecting and analyzing high-frequency Internet of Things (IoT) sensor data and computer vision (AI). Routine physical assessments of mobility and balance are usual healthcare activities with significant potential to be transformed by combining IoT and AI technologies (IoT). With IoT, care providers can simplify assessment using fewer steps while making the test quantitative, consistent, and reproducible.
Hospitals, clinics, pharmaceuticals, and academic institutes testing and storing vaccines, such as COVID-19 vaccines, still lack visibility on their refrigerators’ real-time state and performance. Due to this, there is an increasing need for IoT-based predictive maintenance for vaccine logistics and safety. IoT can also improve diagnostic accuracy and remote patient monitoring, reduce the need for follow-up visits, reduce wait times, identify critical patients, and track medical equipment.
Furthermore, innovations in AI and IoT allow hospitals to take full advantage of data, like CT scans and records of patient vitals. These systems enable doctors to monitor patient health remotely, even when not in the building, and identify which patients need immediate attention. IoT can also boost the accuracy of diagnoses for certain diseases like breast and lung cancer.
Smart hospitals are utilizing IoT-connected technologies and robotics to deliver a new age of health support and treatment. There is an emergence of various IoT devices and applications designed for the healthcare sector, including sensors and apps for telemedicine consultations and remote healthcare monitoring. In this regard, IoT is helping to improve healthcare via real-time patient monitoring (fitness trackers, smart wearables, panic buttons, etc.), advanced diagnostics through smart image analysis, and robotic surgery. These applications help collect data to provide preventive measures for a person, early detection, and drug administration.
Smart healthcare trends are expected to grow significantly as a result of the rising adoption of IoT technologies. For instance, in December 2022, ASUS, a computer hardware manufacturer, unveiled smart healthcare solutions at the Taiwan Healthcare+ Expo. The ASUS Smart Healthcare theme encouraged digital change as various products were displayed at the ASUS exhibit. The community health management, precision health, and telemedicine trends which are driving the digitization of Taiwan’s medical institutions were addressed. Moreover, AI algorithms and IoT devices also helped hospitals manage community health, allowing them to transition from community hospitals to modern hospitals through digital transformation.
North America Is Anticipated To Hold Major Market Share
North America is one of the major regions with significant market share because of the wide-scale adoption of AI and IoT technologies in many industries, like automotive and transportation, manufacturing, retail, and healthcare, which is one reason for the growth of the market studied in this region. North America is one of the leading regions with research into developing AI and IoT applications in new end-user industries. According to Cisco, the United States and Canada have the highest average per capita devices and connections as of 2022.
The manufacturing platform of North American companies has undergone a digital transformation which is creating an opportunity for the AI solution providers in the manufacturing of IoTs in the country, which has been enabling these companies to control energy and water usage in manufacturing facilities, boost equipment resilience while reducing waste, and check product quality in real-time on the production line. Providing scalable predictive quality, predictive maintenance, controlled release, and touchless operations would be helpful in increasing the sustainability of production in the region’s plants.
Many global companies are partnering with market vendors to integrate AI-based IIoT into their production lines, fueling the market’s growth. For instance, in September 2022, P&G and Microsoft signed a multiyear partnership agreement to revamp P&G’s digital manufacturing infrastructure. According to the partnerships, the industrial internet of things (IIoT), digital twin, data, and AI would accelerate product delivery to customers and boost customer satisfaction while increasing productivity and lowering costs.
The region has many global IoT and AI-based vendor providers, especially in the United States. In addition, the country has a high-tech ecosystem, and the region’s automobiles have become increasingly software-oriented. When AI is coupled with the IoT, the devices can analyze data, make decisions, and act on that data without human interference. Tesla’s self-driving cars are examples of AI and IoT working in tandem. With the incorporation of AI, self-driving cars predict the behavior of cars and pedestrians in various circumstances. For instance, they can determine road conditions, weather, and optimal speed and get smarter with each trip.
The industry’s potential for growth in North America is reflected in the fact that many American AI platforms and software manufacturers collaborate with IoT solution providers to improve their market share in the area.
AI In IoT Industry Overview
The AI in IoT market is highly competitive owing to the presence of a large number of players in the market operating in domestic and international markets. The market comprises several players, such as Microsoft, Salesforce, AWS, SAP SE, Oracle, and IBM Corporation. The brand identity associated with the companies has a major influence on the market. As strong brands are synonymous with good performance, long-standing players are expected to have the upper hand. The vendors offering advanced AI solutions and continuous upgrades in their offerings may be the popular choice for buyers.
In November 2022, Microsoft announced pre-orders for new Surface products, Surface Laptop 5 and Surface Pro 9. With this, the company shared its vision for the next era of the Windows PC, where the PC and the cloud intersect and tap into innovative AI technology to unlock new experiences. Microsoft is committed to investing a significant amount in IoT research and the intelligent edge, thereby adding new services and features to Azure IoT for industries like healthcare. It is further driving its business strategy to define success in the age of intelligence.
In November 2022, AWS IoT Core announced the launch of AWS IoT Core Device Location. This new feature allows customers to track and manage IoT devices using their location data, such as latitude and longitude coordinates. Using AWS IoT Core Device Location, customers can optimize business processes, simplify and automate maintenance efforts, and unlock new business use cases.
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Artificial Intelligence
Hohem Shines at IFA and IBC Exhibitions with Innovative AI Tracking Stabilizers
SHENZHEN, China, Sept. 30, 2023 /PRNewswire/ — Recently, Hohem, a trailblazer in the gimbal market, showcased its innovation at two renowned international exhibitions – the IFA exhibition in Berlin from September 3 to September 5, and the IBC exhibition in Amsterdam from September 15 to September 18. These exhibitions are significant platforms for industry players to present their latest innovations and connect with enthusiasts.
The IFA exhibition, a global hub for consumer electronics, saw Hohem presenting a range of sought-after smartphone gimbal and camera stabilizers, such as iSteady M6 and iSteady MT2. The magnetic AI tracker is much to the delight of photography enthusiasts. With this sensor, users can enjoy a smooth AI tracking experience without the need for an app or Bluetooth connection. By simply facing the AI sensor and making gestures, iSteady MT2 and iSteady M6 swiftly and accurately tracks the subject, capturing facial and body movements even in challenging scenarios.
At IFA, Hohem shared the stage with industry giants like DJI, Zhiyun, Huawei and Apple, underlining its position amidst renowned brands in the smart imaging arena. The booth design, characterized by a blend of deep black and vibrant orange, was a visual treat, adding a touch of sophistication and modernity.
Following IFA, Hohem participated in the IBC exhibition, a prestigious event in the broadcasting industry. The booth, mirroring the design theme from IFA, presented Hohem’s innovative applications of smart imaging technology in broadcasting. This event also featured industry stalwarts like Canon, Sony and Nikon, further enriching the discourse on broadcasting technology and imaging. Furthermore, the Hohem MIC-01 Wireless Microphone has received recognition and acknowledgment from industry competitors, establishing Hohem as a key player in the gimbal market.
In the coming days, Hohem will continue to uphold its brand mission of “Create a more straightforward way of recording memorable moments with tech” and introduce more user-friendly and efficient smart imaging devices. Hohem aspires to earn the trust and admiration of consumers globally, emerging as a go-to brand in the smart imaging landscape.
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Artificial Intelligence
Digital Twin Market size worth USD 133.7 Billion, Globally, by 2030 at 38.1% CAGR: Verified Market Research®
The “Global Digital Twin Market Size By Type, By Technology, By Industry, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Digital Twin Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Sept. 29, 2023 /PRNewswire/ — The Global Digital Twin Market is projected to grow at a CAGR of 38.1% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 7.2 Billion in 2022 and is expected to reach USD 133.7 Billion by the end of the forecast period.
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202 – Pages
126 – Tables
37 – Figures
Global Digital Twin Market Sees Unprecedented Growth Amidst Pandemic Challenges
The global Digital Twin Market is experiencing remarkable growth, transforming industries and revolutionizing decision-making processes across the board. A Digital Twin, a virtual replication of physical entities or systems, is driving innovation and operational efficiency across healthcare, pharmaceuticals, automotive, transportation, and aerospace sectors.
Digital Twin Market Drivers and Industry Insights:
Amid the challenges posed by the COVID-19 pandemic, the healthcare and pharmaceutical sectors have embraced Digital Twin technology, leveraging its capabilities for drug experimentation, patient monitoring, and medication impact assessments. The energy & power sector is emerging as a significant driver of Digital Twin adoption, with the manufacturing industry optimizing operations through its integration.
Digital Twin Market Outlook and Future Prospects:
The global Digital Twin market’s outlook remains promising, driven by the imperative need for data-driven decision-making and enhanced operational efficiency. Through real-time data analysis and predictive modeling, Digital Twins enable organizations to anticipate and optimize the performance of products and processes throughout their lifecycle. The market’s growth is further propelled by ongoing advancements in technology, fostering a landscape of innovation and strategic collaborations.
North America stands at the forefront of the Digital Twin revolution, serving as a key innovation center and early adopter of Digital Twins and associated technologies. Major industry players, including General Electric (US), have significantly invested in the sector, underlining the region’s market leadership. Their contributions are shaping the industry’s future, driving research, and fostering advancements that will redefine how businesses operate in the digital age.
Digital Twin Market Key Players
The “Global Digital Twin Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Swim AI, Robert Bosch, Oracle, SAP, Ansys, Siemens AG, Microsoft Corporation, PTC, IBM, and General Electric.
The Digital Twin market represents a pivotal shift in how industries approach decision-making and operational efficiency. As we navigate the challenges brought forth by the pandemic, Digital Twins offer a beacon of innovation, enabling organizations to thrive in an increasingly digital world
To get market data, market insights, financial statements and a comprehensive analysis of the Global Digital Twin Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Digital Twin Market into Type, Technology, Industry, And Geography.
Digital Twin Market, by Typeo System Digital Twin
o Process Digital twin
o Product Digital Twin
Digital Twin Market, by Technologyo Big Data Analytics
o 5G
o AR, VR, and MR
o AI and ML
o Blockchain
Digital Twin Market, by Industryo Retail
o Telecommunication
o Agriculture
o Healthcare
o Automotive and Transportation
o Others
Digital Twin Market, by Geographyo North America
U.SCanadaMexicoo Europe
GermanyFranceU.KRest of Europeo Asia Pacific
ChinaJapanIndiaRest of Asia Pacifico ROW
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Artificial Intelligence
Public Key Infrastructure (PKI) Market worth $13.8 billion by 2028 – Exclusive Report by MarketsandMarkets™
PKI will continue to be used by organisations for secure digital communications, identity management, and data protection in an increasingly linked and digitised world because to its flexibility to adapt to new technologies and security issues
CHICAGO, Sept. 29, 2023 /PRNewswire/ — The global Public Key Infrastructure Market is estimated to be worth USD 5.5 billion in 2023 and is projected to reach USD 13.8 billion by 2028, at a CAGR of 20.2% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Public Key Infrastructure (PKI) Market”
358 – Tables 56 – Figures300 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2017-2028
Base year considered
2022
Forecast period
2023-2028
Forecast units
Value (USD) Million/Billion
Segments Covered
By offering, deployment mode, organization size, application, and vertical
Region covered
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Companies covered
Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US)
The PKI market is being propelled by a convergence of factors in today’s digitally connected world. The escalating volume and complexity of cyberattacks have made robust security a paramount concern for organizations, prompting increased demand for PKI’s encryption, authentication, and digital signature capabilities. Secondly, regulatory compliance requirements, such as GDPR and HIPAA, mandate secure data handling and encryption, compelling organizations to adopt PKI solutions. The rise of digital transformation initiatives, remote work, and the Internet of Things further fuel the need for PKI to safeguard digital interactions, protect sensitive data, and establish trust in online transactions. As the digital landscape continues to expand and evolve, PKI remains the linchpin for ensuring cybersecurity, making it a pivotal driver in the cybersecurity market.
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By offering, the services segment to register the highest growth rate during the forecast period
The services segment of the PKI market is poised to register the highest growth rate during the forecast period, underlining the critical role of expert services in enabling organizations to harness the full potential of PKI solutions. Implementing and managing PKI can be complex, involving intricate cryptographic processes and security considerations. As cybersecurity threats evolve, organizations recognize the need for specialized expertise in securing digital identities and data. PKI service providers offer invaluable support, consultation, and implementation services to ensure a seamless and secure PKI deployment. Their role extends to customizing PKI solutions to align with the unique infrastructure of each organization, integrating PKI seamlessly into existing systems, and providing managed PKI services to streamline certificate management. Furthermore, PKI service providers play a vital role in ensuring compliance with stringent regulatory standards and industry best practices. Their training and support services empower organizations to maximize the benefits of PKI while maintaining the highest levels of security.
Based on vertical, the healthcare segment is to grow at the highest CAGR during the forecast period
The healthcare sector is poised to experience the highest compound annual growth rate within the PKI market during the forecast period, signaling a significant shift towards robust security and digital trust solutions. Several key factors contribute to this remarkable growth trajectory. The healthcare sector deals with highly sensitive patient data, making data security and patient privacy paramount concerns. PKI’s encryption and authentication capabilities provide a robust framework for safeguarding electronic health records, ensuring the integrity of medical data, and enabling secure sharing of patient information among healthcare providers. The COVID-19 pandemic has accelerated the adoption of telemedicine and remote healthcare services. The need for secure and trusted digital identities and communications has surged as the healthcare industry increasingly relies on digital platforms for remote consultations, diagnosis, and patient monitoring. PKI plays a pivotal role in enabling secure telehealth services, ensuring that patient data remains confidential and unaltered during remote interactions.
North America to hold the largest market share during the forecast period.
North America holds the largest market share during the forecast period in the PKI market, underscoring the region’s strong emphasis on cybersecurity, digital innovation, and regulatory compliance. North America is home to many enterprises, financial institutions, healthcare organizations, and government agencies, all of which rely heavily on robust cybersecurity solutions like PKI to protect sensitive data and ensure secure online transactions. The region’s recognition of PKI as a fundamental element of cybersecurity strategy drives its substantial market share. The United States, in particular, has a highly developed cybersecurity ecosystem, with numerous cybersecurity companies, research institutions, and government initiatives focused on enhancing digital security. This environment fosters innovation and adoption of advanced PKI solutions to address emerging threats.
Top Key Companies in Public Key Infrastructure (PKI) Market:
The major players in the Public Key Infrastructure Market are Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US).
Recent Developments
April 2023 – Thales adds new phishing-resistant hybrid authenticators to its Passwordless Authentication for Microsoft Azure Active Directory Customers offering.April 2023 – Entrust Introduces Zero Trust Ready Solutions for Multi-Cloud Key Compliance, Next-Generation HSM, and Passwordless AuthenticationJanuary 2023 – A comprehensive digital trust system that combines public key infrastructure (PKI), certificate management, and certificate authority (CA) services was introduced by DigiCert. A significant product launch is Trust Lifecycle Manager, which is currently accessible as a component of the DigiCert ONE platform.February 2022 – To increase public trust in the cloud, Thales announced the continuation of its cooperation with Google Cloud. Organizations can confidently use the Google Cloud Platform (GCP) if the connection is stronger. The technique known as ubiquitous data encryption, which combines Thales’ Cypher Trust Cloud Key Manager and Google Cloud’s Confidential Computing, is activated. Customers can create and manage the encryption keys for data sent to Google Confidential Cloud Computing using the Thales Cypher Trust Data Security Gateway.Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=145372975
Public Key Infrastructure (PKI) Market Advantages:
Using cryptographic techniques to shield data from unauthorised access and manipulation, PKI offers a solid framework for protecting digital communications and transactions.Sensitive data is kept private and secure during transmission and storage because to PKI’s data encryption capabilities.Organisations are able to confirm the identity of users and devices before authorising access to sensitive resources thanks to PKI, which enables secure user and device authentication.Digital signatures can be created and verified with PKI, protecting the integrity and legitimacy of electronic documents and transactions.PKI offers non-repudiation, which makes it impossible for participants to claim they were not involved in a transaction because digital signatures serve as evidence of validity.Through techniques like S/MIME (encrypt/Multipurpose Internet Mail Extensions), PKI can encrypt email connections and protect the confidentiality and integrity of email information.Organisations can authorise access to systems and data based on certificate validation using PKI-based access controls, which provides an additional layer of protection.By issuing and managing digital certificates, PKI facilitates identity management by streamlining user access and account management.PKI offers a secure framework for data protection and identity verification, assisting organisations in adhering to legal and compliance standards.Report Objectives:
To define, describe, and forecast the Public Key Infrastructure Market based on segments based on offering, deployment mode, organization size, application, and vertical with regions covered.To forecast the size of the market segments with respect to five regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.To provide detailed information on the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Public Key Infrastructure Market.To analyze each submarket with respect to individual growth trends, prospects, and contributions to the global Public Key Infrastructure Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global Public Key Infrastructure Market.To profile the key market players, such as top and emerging vendors; provide a comparative analysis based on their business overviews, product offerings, and business strategies; and illustrate the market’s competitive landscape.To track and analyze competitive developments in the market, such as new product launches, product enhancements, partnerships, acquisitions, and agreements and collaborations.Browse Adjacent Market: Information Security Market Research Reports & Consulting
Browse Other Reports:
Zero-Trust Security Market – Global Forecast to 2028
AML Market – Global Forecast to 2028
Cloud Security Market – Global Forecast to 2028
Managed Security Services Market – Global Forecast to 2027
Emotion Detection and Recognition Market – Global Forecast to 2027
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