PUBLISHER: BCC Research | PRODUCT CODE: 1688866
PUBLISHER: BCC Research | PRODUCT CODE: 1688866
2024 AI & IoT Technology Research Review
The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.
The global market for AI Technology in the Oil and Gas Sector is estimated to increase from $2.8 billion in 2023 to reach $5.1 billion by 2028, at a CAGR of 12.9% from 2023 through 2028.
The global market for artificial intelligence (AI) in life sciences products was valued at $8.0 billion in 2023. The market is estimated to grow from $9.8 billion in 2024 to $33.5 billion by the end of 2029, at a CAGR of 27.9% from 2024 to 2029.
Research Review Scope
Artificial Intelligence (AI) and the Internet of Things (IoT) are revolutionizing industries by enhancing automation, optimizing operations, and improving efficiency. The global AI market is witnessing significant investment as businesses recognize its potential to drive innovation, streamline processes, and create new revenue opportunities. Particularly in the oil and gas sector, AI technologies are being integrated to optimize exploration, predictive maintenance, and resource management, helping companies improve operational efficiency and reduce costs. On the other hand, AI is also making a profound impact in life sciences, transforming drug discovery, patient monitoring, and healthcare analytics. In cancer research, AI-driven solutions are enhancing early detection, diagnosis, and personalized treatment plans, leading to better patient outcomes. Furthermore, integrating AI in clinical and molecular diagnostics is advancing precision medicine by enabling faster and more accurate disease detection.
The Industrial IoT (IIoT) market is expanding as businesses leverage connected devices and smart automation to optimize manufacturing, logistics, and supply chain operations. These advancements in AI and IoT are driving digital transformation across industries, enabling businesses to enhance decision-making, reduce costs, and maintain a competitive edge in the global market.
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. This 2024 Research Review of AI and IoT technology provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions. This Research Review includes highlights and excerpts from the following reports published by BCC Research in 2023:
- IFT189C Global Artificial Intelligence (AI) Market: Investments vs Potential
- IFT305A AI in Oil and Gas: Global Markets and Technologies
- BIO255A Artificial Intelligence (AI) in Lifesciences Market
- BIO196B Artificial Intelligence (AI) in Cancer
- BIO261A AI in Clinical and Molecular Diagnostics Market
- IFT299A Industrial IoT (IIoT): Global Markets
After you survey the excerpts in this Research Review, we encourage you to follow up on these topics by checking out the full market research reports associated with each topic. BCC Research looks forward to serving your market intelligence needs in the future.
Table of Contents
Chapter 1 Foreword
- Research Review Scope
Chapter 2 Global Artificial Intelligence (AI) Market: Investments vs Potential (IFT189C)
- Global Artificial Intelligence (AI)
- Market Outlook
- Scope of Report
- Market Summary
- Market Dynamics
- Emerging Technologies
- Segmental Analysis
- Regional Analysis
- Conclusion
- Market Overview of Global Artificial Intelligence (AI)
- Overview
- Market Scenario
- AI Autonomy Levels
- Future Analysis
- Market Dynamics of Global Artificial Intelligence (AI)
- Overview
- Market Driver
- Market Restraint
- Market Opportunity
- Market Challenge
- Regulatory Landscape
- Overview
- Emerging Technologies
- Key Emerging Technologies
- Market Breakdown of Global Artificial Intelligence (AI) by Solution Type
- Overview
- AI Software
- AI Services
- AI Hardware
- Market Breakdown of Global Artificial Intelligence (AI) by Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
- Environmental, Social, and Governance (ESG) Perspective
- Overview
- Environmental Impacts
- Social Impacts
- Governance Impacts
- Current Status of ESG in the AI Industry
- Concluding Remarks
Chapter 3 AI in Oil and Gas: Global Markets and Technologies (IFT305A)
- AI in Oil and Gas
- Market Outlook
- Scope of Report
- Market Summary
- Market Overview of AI in Oil and Gas
- Overview
- Regulatory and Policy Framework Impacting AI Integration
- Future Prospects
- Geopolitical and Other Developments
- Market Dynamics of AI in Oil and Gas
- Overview
- Market Driver
- Market Restraint
- Market Opportunity
- Emerging Technologies and Developments
- Overview
- Current Market Trends
- Emerging Technologies
- Market Breakdown of Global Artificial Intelligence (AI) by Component
- Overview
- Software
- Services
- Hardware
- Market Breakdown of Global Artificial Intelligence (AI) by Region
- Overview
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Environmental, Social, and Governance (ESG) Perspective
- Overview
- ESG Performance in the Market for AI Technology in the Oil and Gas Sector
- Environmental Impact
- Social Impact
- Governance Impact
- Current Status of ESG in the Market for AI Technology in the Oil and Gas Sector
- Consumers Attitude Towards ESG in the Market for AI Technology in the Oil and Gas Sector
- Concluding Remarks from BCC
Chapter 4 Artificial Intelligence (AI) in Lifesciences Market (BIO255A)
- Artificial Intelligence (AI) in Lifesciences
- Market Outlook
- Scope of Report
- Market Summary
- Market Overview of Artificial Intelligence (AI) in Lifesciences
- Overview
- Artificial Intelligence in Drug Discovery
- Artificial Intelligence in Molecular Diagnostics
- Artificial Intelligence in Clinical Diagnostics
- Artificial Intelligence in Clinical Trials
- Artificial Intelligence in Precision Medicine
- Market Dynamics of Artificial Intelligence (AI) in Lifesciences
- Market Driver
- Market Restraint
- Market Opportunity
- Market Challenge
- Emerging Technologies and Developments
- Introduction
- Market Analysis of Artificial Intelligence (AI) in Lifesciences by Product
- Software
- Services
- Market Analysis of Artificial Intelligence (AI) in Lifesciences by Region
- Global
- North America
- Europe
- Asia-Pacific
- Rest of the World
Chapter 5 Artificial Intelligence (AI) in Cancer (BIO196B)
- Artificial Intelligence (AI) in Cancer
- Market Outlook
- Scope of Report
- Market Insights
- Market Overview of Artificial Intelligence (AI) in Cancer
- Overview
- Current and Emerging Applications of AI in Cancer
- Market Dynamics of Artificial Intelligence (AI) in Cancer
- Market Driver
- Market Restraint
- Market Opportunity
- Emerging Technologies
- Introduction
- Emerging Technologies
- Market Analysis of Artificial Intelligence (AI) in Cancer by Cancer Type
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Gastrointestinal Cancer
- Brain Cancer
- Other Cancers
- Market Analysis of Artificial Intelligence (AI) in Cancer by Region
- Market Size and Forecast
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Sustainability in the AI in the Cancer Market
- Introduction
- Understanding the ESG Data
- Environmental Performance
- Social Performance
- Governance Performance
- Concluding Remarks from BCC
Chapter 6 AI in Clinical and Molecular Diagnostics Market (BIO261A)
- AI in Clinical and Molecular Diagnostics
- Market Outlook
- Scope of Report
- Market Summary
- Market Overview of AI in Clinical and Molecular Diagnostics
- Overview
- History of AI
- Rise of Machine Learning
- Machine Learning vs. Deep Learning vs. Neural Networks
- Types of Machine Learning
- Advantages and Disadvantages of ML Algorithms
- AI in Healthcare
- AI in Clinical Diagnostics
- AI in Molecular Diagnostics
- Market Dynamics of AI in Clinical and Molecular Diagnostics
- Overview
- Market Driver
- Market Restraint
- Market Opportunity
- Regulatory Structure
- Emerging Technologies and Developments
- Latest Technologies/Developments
- Market Analysis of AI in Clinical and Molecular Diagnostics by Component
- Software
- Services
- Hardware
- Market Analysis of AI in Clinical and Molecular Diagnostics by Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Sustainability in AI in Clinical and Molecular Diagnostics: An ESG Perspective
- Environmental Sustainability
- Social: Ensuring that AI Benefits All Society
- Governance Impacts
Chapter 7 Industrial IoT (IIoT): Global Markets (IFT299A)
- Industrial IoT (IIoT)
- Market Outlook
- Scope of Report
- Market Summary
- Market Dynamics and Growth Factors of Industrial IoT (IIoT)
- Segmental Analysis
- Regional Insights and Emerging Markets
- Conclusion
- Market Overview of Industrial IoT (IIoT)
- Overview
- Case Studies
- Market Dynamics of Industrial IoT (IIoT)
- Market Driver
- Market Challenge
- Market Opportunity
- Emerging Technologies and Developments
- Overview
- Key Emerging Trends/Technologies for IIoT
- Industrial IOT (IIoT) Market by Deployment
- On-premises
- Cloud
- Industrial IOT (IIoT) Market by Organization Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- Market Breakdown of Industrial IoT (IIoT) by Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Sustainability in the IIoT Industry: An ESG Perspective
- Overview
- Current Status of ESG in the IIoT Market
- Consumer Attitudes Towards ESG in the IIoT Market
- Concluding Remarks from BCC
Chapter 8 Appendix
- Methodology
- Analyst's Credentials
List of Tables
- Table 1 : Global Market for AI, by Region, Through 2029
- Table 2 : Global Market for AI, by Solution Type, Through 2029
- Table 3 : Global Market for AI, by Region, Through 2029
- Table 4 : ESG Risk Ratings Metric, by Company, 2023
- Table 5 : Global Market for AI Technology in the Oil and Gas Sector, by Region, Through 2028
- Table 6 : Global Market for AI Technology in the Oil and Gas Sector, by Component, Through 2028
- Table 7 : Global Market for AI in the Oil and Gas Sector, by Region, Through 2028
- Table 8 : ESG Risk Ratings Metric, by Company, 2022
- Table 9 : Global Market for Artificial Intelligence (AI) in Life Sciences, by Product, Through 2029
- Table 10 : Publications Referencing Artificial Intelligence in Life Sciences, 2021-2023
- Table 11 : Artificial Intelligence in Life Science Products from Global Players
- Table 12 : Different Types of Data Used in the Life Science Industry for Artificial Intelligence
- Table 13 : Artificial Intelligence in the Life Sciences: Emerging Technologies
- Table 14 : Global Market for AI in Life Sciences, by Product, Through 2029
- Table 15 : Global Market for AI in Life Sciences, by Region, Through 2029
- Table 16 : Global Market for AI in Cancer, by Region, Through 2029
- Table 17 : Incidence and Mortality Rates of Cancer Across Regions, 2022
- Table 18 : Global Market for AI in Cancer, by Cancer Type, Through 2029
- Table 19 : Global Market for AI in Cancer, by Region, Through 2029
- Table 20 : ESG Rankings for Major Cancer AI Companies, 2024*
- Table 21 : ESG: Environmental Overview
- Table 22 : ESG: Social Overview
- Table 23 : ESG: Governance Overview
- Table 24 : Global Market for AI in Clinical and Molecular Diagnostics, by Type, Through 2029
- Table 25 : Regulations Pertaining to AI Medical Diagnostics
- Table 26 : Global Market for AI in Clinical and Molecular Diagnostics, by Component, Through 2029
- Table 27 : Global Market for AI in Clinical and Molecular Diagnostics, by Region, Through 2029
- Table 28 : Global Market for IIoT, by Deployment, Through 2028
- Table 29 : IIoT Use Cases
- Table 30 : Global Market for IIoT, by Deployment, Through 2028
- Table 31 : Global Market for IIoT, by Organization Size, Through 2028
- Table 32 : Global Market for IIoT, by Region, Through 2028
- Table 33 : ESG Risk Ratings Metric, by Company, 2022
List of Figures
- Figure 1 : Global Market Shares of AI, by Region, 2023
- Figure 2 : Emerging Technologies in the AI Market
- Figure 3 : Global Market Shares of AI, by Solution Type, 2023
- Figure 4 : Global Market Shares of AI, by Region, 2023
- Figure 5 : Global Market Shares of AI Technology in the Oil and Gas Sector, by Region, 2022
- Figure 6 : Emerging Technologies in the Market for AI in the Oil and Gas Sector
- Figure 7 : Global Market Shares of AI Technology in the Oil and Gas Sector, by Component, 2022
- Figure 8 : Global Market Shares of AI in the Oil and Gas Sector, by Region, 2022
- Figure 9 : Global Market for Artificial Intelligence (AI) in Life Sciences, by Product, 2021-2029
- Figure 10 : Breakdown of Publications Referencing Artificial Intelligence in Life Sciences, 2021-2023
- Figure 11 : Global Market Shares of AI in Life Sciences, by Product, 2023
- Figure 12 : Global Market Shares of AI in Life Sciences, by Region, 2023
- Figure 13 : Global Market Shares of AI in Cancer, by Region, 2023
- Figure 14 : Role of AI in Cancer Drug Discovery and Development
- Figure 15 : Emerging Technologies in AI in Cancer Market
- Figure 16 : Global Market Shares of AI in Cancer, by Cancer Type, 2023
- Figure 17 : Global Market Shares of AI in Cancer, by Region, 2023
- Figure 18 : Global Market for AI in Clinical and Molecular Diagnostics, by Type, 2021-2029
- Figure 19 : Global Market Shares of AI in Clinical and Molecular Diagnostics, by Component, 2023
- Figure 20 : Global Market Shares of AI in Clinical and Molecular Diagnostics, by Region, 2023
- Figure 21 : Global Market Shares of IIoT, by Deployment, 2022
