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Report
2024 AI & IoT Technology Research Review
Market Research Report I 2025-03-21 I 154 Pages I BCC Research
Description
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.
Executive Summary
Summary:
- 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.
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 decisionmaking, reduce costs, and maintain a competitive edge in the global market.
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
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