The value of data is stimulating the IoT advanced analytics market, with the emergence of ML and AI solutions
According to ABI Research, the IoT ML and AI market will reach $1.09 billion this year and grow to $10.6 billion in 2026.
The report states that Edge ML/AI is more prevalent in manufacturing and industrial segments. That’s because there’s a need to assess, transform, and augment data as it is being generated through functions of quick pattern recognition, labeling, and protocol optimization.
Amazon Web Services, Azure, Google, SAS, and C3.ai are reportedly dominating the scene for their end-to-end IoT portfolios and combined native and third-party ML/AI toolkits.
The research highlights that edge and cloud are merging into a singular edge-cloud paradigm, while the vendors have clear positions on deployment choice.
The IoT edge marketplace is expected to take off within a couple of years and become an integral part of the IoT ecosystem.
We’ve reported that by 2027, the global blockchain IoT market is expected to reach $9,070 million, compared to $37.4 million in 2018, boosting at a CAGR of 60.6%.