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IoT AI services to reach £2.6 billion in revenue by 2026

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Artificial intelligence (AI) and machine learning (ML) services within the IoT sphere are expected to grow by 40% annually, reaching $3.6 billion (£2.6bn) in revenue by 2026.

The latest from global tech advisory firm ABI Research’s new report, the findings indicate that the value in the technology stack is shifting beyond hardware and middleware to analytics and value-added services.

In fact, whilst COVID-19 negatively impacted lots of industries, it seems to have accelerated growth in the IoT data analytics market.

“Since industries are transitioning to ‘remote everything’, out-of-the-box solutions for remote monitoring, asset management, asset visibility, and predictive maintenance are in high demand and exemplify market acceleration,” explained Kateryna Dubrova, research analyst at ABI Research.

“Vendors, such as DataRobot, are now easing access to ML and AI ...

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