Global market for AI in big data and IoT as a whole will reach $31.4B by 2027. Embedded AI in support of IoT-connected things will reach $7.2B globally by 2027. Overall market for AI in big data and IoT will be led by Asia Pac followed by North America. Machine learning will become a key AI technology to realize the full potential of big data and IoT, particularly in edge computing platforms. The Top three segments will be Data Mining and Automation, Automated Planning, Monitoring, and Scheduling and Data Storage and Customer Intelligence as per a report Artificial Intelligence in Big Data Analytics and IoT: Market for Data Capture, Information and Decision Support Services 2022 – 2027 by ResearchAndMarkets.com
The Asset Integrity Management market is projected to grow at a CAGR of 8.54% during the forecast period to reach US$36.038 billion by 2027, from US$20.304billion in 2020 as per the report by Research And Markets.
The Telecom Sector Skill Council (TSSC), the Council responsible for skilling in telecom has recently launched a report ‘Overview: Indian Telecom Market 2022-23’, charting out the areas of traction where the telecom industry would witness growth in the coming financial year. The report highlights that in the past year, there was a combined demand of over 1.5 lakh in roles in 5G, Cloud Computing, AI & Big Data Analytics, IoT, Mobile App-Development and Robotic Process Automation – the demand supply gap is almost 28%. The talent demand supply gap will continue to widen with the advent of 5G and allied technologies rollout.
As AI regulations proliferate globally, they are mandating certain auditable practices that ensure trust, transparency and consumer protection. As per Gartner, by 2026 organizations that develop trustworthy purpose-driven AI will see over 75% of AI innovations succeed, compared to 40% among those that don’t.
As per Worldpay FIS predicts India’s e-commerce market would increase by 84% to USD111B by 2024. Data Science and Analytics (DSA) is effective across all corporate functions, but it will focus on three to demonstrate its applicability: Marketing, Sales, and Operations.
As per recent report by IDC suggests that Indian enterprises are investing heavily in big data technology and the spend on such solutions is poised to grow at a five-year CAGR of 14.6% over the forecast period of 2020-25.