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The AIoT platforms market is expected to experience significant growth in the coming years, driven by the increasing adoption of Internet of Things (IoT) devices, rising automation needs, and advancements in artificial intelligence. This market is projected to reach a value of $61.7 billion by 2031, with a compound annual growth rate (CAGR) of 37.04% from 2024 to 2031. However, challenges such as high implementation costs, security and privacy concerns, and a shortage of skilled employees may hinder the market’s growth. Opportunities for future expansion include developments in AI and increased investment in infrastructure.