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AIoT Platform Market to Reach $424 Billion, Globally, by 2032 at 35.8% CAGR: Allied Market Research

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The surge in digitalization, rise in need for intelligent transportation systems, and increase in adoption of advanced technologies positively impact the growth of the market.

PORTLAND, Ore., Aug. 29, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “AIoT Platform Market by Offering (Solution, and Services), Industry Vertical (Manufacturing, BFSI, Healthcare, Retail, Energy and Utilities, Transportation and Logistics, and Others), Solution Type (Connectivity Management, Device Management, and Application Management), and End User (B2B, B2G, and B2C): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the AIoT platform market was valued at $27.7 billion in 2023, and is estimated to reach $424 billion by 2032, growing at a CAGR of 35.8% from 2024 to 2032.

Prime determinants of growth:

The surge in digitalization, rise in need for intelligent transportation systems, and increase in the adoption of advanced technologies drive the growth of the market. In addition, surge in adoption of IoT devices, advancements in AI technology, and growth in demand for automation are expected to fuel the growth of the market during the forecast period. Furthermore, expansion of AIoT applications in various industries, such as healthcare, agriculture, and retail, is expected to provide lucrative growth opportunities for the market in the upcoming years. However, data privacy & security concerns and lack of standardization in data formats, communication protocols, & networks are expected to hamper the market growth.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2032

Base Year

2023

Market Size in 2023

$27.7 Billion

Market Size in 2032

$424 Billion

CAGR

35.80 %

No. of Pages in Report

396

Segments covered

Offering, Solution Type, Industry Vertical, End User, and Region.

Drivers

Surge in digitalization

Rise in need for intelligent transportation systems

Surge in adoption of IoT devices

advancements in AI technology

Growth in demand for automation

Opportunity

Expansion of AIoT applications in various industries, such as healthcare, agriculture, and retail

Restraints

Data privacy and security concerns

Lack of standardization in data formats, communication protocols, and network

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The solution segment to rule the market

By offering, the solution segment held the major share in 2023, garnering less than two-thirds of the global AIoT platform market revenue. AIoT platform market is rapidly evolving owing to the increasing demand for edge computing, which involves processing data closer to the source rather than sending it to a centralized data center. The services segment is expected to witness the fastest CAGR of 38.7% during the forecast period, owing to services reducing the time and costs associated with optimizing systems in the initial phase of deployment, as services help to deploy and integrate distinct solutions in an enterprise ecosystem.

The device management segment to maintain its dominance during the forecast period

By solution type, the device management segment contributed to the highest share in 2023, accounting for more than half of the global AIoT platform market revenue. AIoT can help streamline device management by providing real-time insights into device performance, identifying issues and anomalies, and predicting maintenance needs. The application management segment is expected to witness the fastest CAGR of 38.6% throughout the forecast period, owing to ensuring that applications run smoothly, are secure, and meet the needs of the organization. With the growing complexity of modern technology, application management has become increasingly important and challenging.

The manufacturing segment to dominate by 2032

By industry vertical, the manufacturing segment accounted for more than one-fifth of the global AIoT platform market share in 2023 and is expected to remain dominant by 2032, owing to monitoring and analyzing production processes in real time. These platforms can detect defects or anomalies, enabling quick action to prevent product quality issues. This reduces the risk of product recalls and associated costs. The transportation and logistics segment is expected to display the fastest CAGR of 40.7% throughout the forecast period, owing to increase in adoption of autonomous vehicles and drones. AIoT platforms can enable these vehicles to navigate and operate autonomously, improving safety and efficiency while reducing costs.  

The manufacturing segment to dominate by 2032

By end user, the B2B segment accounted for nearly half of the global AIoT platform market share in 2023, and is expected to display the fastest CAGR of 37.5% from 2024-2032. With AIoT platforms, B2B enterprises can unlock new opportunities, drive competitive advantage, and accelerate digital transformation in a rapidly evolving market landscape.  

Asia-Pacific garnered the major share in 2023

By region, North America garnered the highest share in 2023, accounting for more than one-third of the global AIoT platform market revenue in 2023, and is projected to retain its dominance by 2032, owing to the increase in adoption of IoT devices, advancements in AI technology, and the growth in demand for data analytics and automation in various industries in the region. The Asia-Pacific region is expected to witness the fastest CAGR of 42.0% during the forecast period, owing to strong technological capabilities, encouraging governmental regulations on advanced technologies such as AI, ML, automation and IoT.

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Major Market Players-

Cisco Systems Inc.SAS Institute Inc.International Business Machines Corporation (IBM)Google LLCIntel CorporationSAP SEMicrosoft CorporationHewlett Packard Enterprise Development LPOracle CorporationTencent CloudAmazon Web Services Inc.NXP SemiconductorsAxiomtek Co., Ltd.WilliotSharp Corporation (SHARP)

The report analyzes these key players in the global AIoT platform market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

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Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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3M announces collaboration with GSEO to advance Expanded Beam Optical manufacturing and development

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ST. PAUL, Minn., Oct. 19, 2026 /PRNewswire/ — 3M (NYSE: MMM) today announced a collaboration with Genius Electronic Optical Co., Ltd. (GSEO, Taiwan: 3406), an optical technology company, to advance technology development and manufacturing for 3M’s Expanded Beam Optical (EBO) solutions. In support of these efforts, 3M expects to make a strategic investment to acquire approximately 4.7% of GSEO’s common shares as part of the company’s private placement of newly issued shares, subject to customary closing conditions.

The collaboration brings together 3M’s EBO technology leadership, optical interconnect expertise, materials science, manufacturing scale and customer relationships with GSEO’s precision optics manufacturing capabilities and production scale. Together, the companies aim to support EBO commercialization and long-term capacity expansion to meet growing demand from hyperscale data centers and other advanced connectivity applications.

“3M is investing in capabilities and partnerships that can accelerate innovation for our customers,” said William Brown, 3M Chairman and CEO. “By selecting GSEO as a manufacturing partner and investing in the company, we are strengthening the path to scale next-generation optical connectivity solutions for high-performance data center infrastructure.”

GSEO’s existing precision optics manufacturing capabilities and technical development experience are expected to support manufacturing readiness for 3M’s EBO ferrules, co-packaged optics solutions and related optical interconnect applications. The collaboration is part of 3M’s broader EBO ecosystem strategy, which includes continued work with customers and partners across the optical interconnect market.

“GSEO is pleased to expand its relationship with 3M as we work together to advance optical interconnect solutions for next-generation data center infrastructure,” said Micro Kuo, GSEO CEO and President. “This collaboration brings together complementary technology and manufacturing strengths to support continued innovation and help meet the performance demands of high-growth connectivity markets.”

3M expects the strategic investment to close in the fourth quarter of 2026, subject to customary closing conditions.

Forward-Looking Statements
Certain statements in this release are considered “forward-looking statements” under the federal securities laws, including the Private Securities Litigation Reform Act of 1995, as amended, and are intended to enjoy the protection of those laws. Forward-looking statements may appear throughout this release and are typically identified by the words “aim,” “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “evaluate,” “expect,” “forecast,” “future,” “goal,” “guidance,” “impact,” “initial,” “intend,” “likely,” “may,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and other words that are similar to, or have the opposite meanings of, those words. Forward-looking statements speak only as of the date they are made, 3M assumes no duty to update those statements, and readers are cautioned not to place undue reliance on any of those statements. Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties, including those described in Part I, Item 1A, “Risk Factors” of 3M’s Form 10-K for the year ended December 31, 2025.

About 3M
3M (NYSE: MMM) is focused on transforming industries around the world by applying science and creating innovative, customer-focused solutions. Our multi-disciplinary team is working to solve tough customer problems by leveraging diverse technology platforms, differentiated capabilities, global footprint, and operational excellence. Discover how 3M is shaping the future at 3M.com/news.

Contacts
3M
Investor Contact:
Diane Farrow, 612-202-2449
Media Contact:
3MNews@mmm.com 

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Scott Vicknair Personal Injury Lawyers Announces Second Annual Operation Fur-Ever Home Pet Adoption Event at Lafreniere Park

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NEW ORLEANS, Oct. 19, 2026 /PRNewswire/ — Scott Vicknair Personal Injury Lawyers is excited to announce the return of its second annual Operation Fur-Ever Home, a free community pet adoption event taking place on Saturday, November 14, 2026, from 9:00 a.m. to 11:00 a.m. at Lafreniere Park in Metairie, Louisiana.

The free, family-friendly event will give attendees the opportunity to meet adoptable pets from local animal shelters, learn about responsible pet ownership, and potentially welcome a new furry companion into their homes. Those who preregister for the event will also be entered for a chance to win a Soundcore speaker and a free pet adoption.

“Last year’s event was everything we hoped it would be, and we are incredibly excited to bring Operation Fur-Ever Home back for a second year,” said David Vicknair, founding partner of Scott Vicknair Personal Injury Lawyers. “There is something special about watching a family meet a pet that could become part of their lives for years to come. We wanted to create another opportunity to make those connections while supporting the organizations that work tirelessly to care for animals in our community.”

Building on the success of the first event, this year’s event continues the firm’s commitment to supporting local animal shelters and creating meaningful opportunities for families throughout Southeast Louisiana.

“Giving back to our community has always been an important part of who we are as a firm,” said Vicknair. “Whether we are helping students prepare for school, recognizing deserving teachers, or supporting local animal shelters, our goal is to make a positive difference in the communities we serve.”

Operation Fur-Ever Home is free and open to the public. Families, animal lovers, and anyone interested in adopting a pet are encouraged to attend and preregister.

About Scott Vicknair Personal Injury Lawyers

Scott Vicknair Personal Injury Lawyers is a New Orleans-based personal injury firm committed to providing exceptional legal representation while also investing in the communities it serves. Their experienced team of dedicated attorneys specializes in car accidents, personal injury, and wrongful death cases in New Orleans. With diverse personal and professional backgrounds, they craft legal strategies tailored to each client’s specific case and needs.

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Can we produce low-cost omega-3s without relying on fish?

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GOLD COAST, Australia, Oct. 19, 2026 /PRNewswire/ — Southern Cross University researchers are aiming to halve the cost of producing omega-3 supplements to make these essential nutrients more accessible to pregnant women and infants in low-income countries, backed by the University’s first-ever grant from The Gates Foundation.

The research takes a novel approach: rather than relying on fish oil, the team is going closer to the original source of omega-3. Fish don’t produce omega-3 themselves – they accumulate it from marine microorganisms lower in the food chain.

Led by Professor Dirk Erler from Southern Cross University’s Faculty of Science and Engineering, the team is investigating how these naturally omega-3-producing microorganisms can be grown more cheaply through precision fermentation, including the use of agricultural and food-processing by-products as a source of fermentation sugar.

Omega-3 is an important nutrient during pregnancy and early life, supporting brain and nervous system development in babies. But the cost of supplements remains a significant barrier to access in many low-income countries.

“The main barrier for the uptake of omega-3s as supplements in pregnant women is the cost,” Professor Erler said.

“The whole objective of our project is to reduce that cost and make omega-3 supplements more available.”

The research team at Southern Cross University, which includes biomedical scientist Dr Nedeljka Rosic, Dr Shane McIntosh, postdoctoral researcher Dr Jasmine Haskell and PhD researcher Michael Ingram, is focused on growing omega-3-producing marine microorganisms known as thraustochytrids – or ‘throstys’ for short.

“By growing those microorganisms on land through precision fermentation, we have an alternative way of producing omega-3s that is both reliable and highly targeted,” Professor Erler said.

Precision fermentation allows the researchers to grow thraustochytrids under controlled conditions to produce omega-3 oils. The team is investigating whether expensive feedstocks used in the process can be replaced with lower-cost agricultural and food-processing by-products, helping drive down the overall cost of production.

The approach could also reduce reliance on wild-caught fish as a source of omega-3 oil and create a more reliable, scalable, and local supply.

For biomedical scientist Dr Nedeljka Rosic, the production challenge is ultimately about what greater access to omega-3 could mean for women and babies.

“As a biomedical scientist, my purpose is to find ways to use science to improve people’s health,” Dr Rosic said.

“This project is important because it aims to improve the health of pregnant women and children and reduce preterm births through simple dietary improvements.”

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SOURCE Southern Cross University

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