Security News > 2021 > July > IoT ML and AI services to reach $3.6 billion in 2026

According to ABI Research, ML and AI services are estimated to grow within the IoT domain at a CAGR of nearly 40%, reaching $3.6 billion in 2026.

The IoT data analytics market less affected by the pandemic.

While COVID-19 impacted many industries, the IoT data analytics market has been less affected.

Vendors, such as DataRobot, are now easing access to ML and AI tool sets through different deployment options at the edge, on-premises, and the cloud, and through consumption using Platform as a Service, and Software as a Service," explains Kateryna Dubrova, Research Analyst at ABI Research.

The pandemic accelerated ML and AI in the IoT. From a technology perspective, the data lakes could be the first step for creating and testing data visibility, and streaming analytics services.

"AI and ML usage has accelerated during the pandemic-however, greenfield AI projects have seen a significant slowdown. The AI and ML in the IoT is at its early adoption stage, the lack of the development of data-enabled infrastructure prevented rapid adoption of the machine learning on operational level when COVID-19 accelerated," Dubrova concludes.

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