Market Size: The global Artificial Intelligence in IoT Market is estimated to grow from USD 2.64 Billion in 2019 to reach USD 15.72 Billion by 2027, at a CAGR of 25.0% during the forecast period from 2020-2027. The rising demand for asset monitoring, performance management of transport and related appliances along with the growing need for improved customer service through real-time monitoring is fueling the growth of the industry. The need to reduce downtime and maintenance costs has spurred the growth of AI in IoT sector globally.
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