IoT Machine Learning and Artificial Intelligence Services to Reach US$10.6 Billion in 2026

The value of data is increasing, and that value is stimulating the Internet of Things (IoT) Advanced Analytics Market, with the emergence of accessible out-of-the-box and off-the-shelf machine learning (ML) and artificial intelligence (AI) solutions. Vendors are now easing access to ML and AI toolsets by expanding availability through deployment options that include the edge, on-premises, cloud, Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). Global tech market advisory firm, ABI Research, finds that the IoT ML and AI market will reach US$1.09 billion in 2020 and grow to US$10.6 billion in 2026. Edge ML/AI is more prevalent in manufacturing and industrial segments, where there is an immediate need to assess, transform and augment data as it is being generated through functions of quick pattern recognition, labeling, and protocol optimization. "The IoT Edge Advanced Analytics Market is essentially operationalized ML and AI products and services targeted at Operational Technology (OT) teams to understand and extract insights," explains Kateryna Dubrova, Research Analyst at ABI Research.