North America AI In IoT Market Size, Share & Trends Analysis Report By Technology, By Component (Platform, Software, and Services), By Vertical, By Country and Growth Forecast, 2024 - 2031
The North America AI In IoT Market would witness market growth of 23.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America AI in IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $17,539.1 million by 2031. The Canada market is experiencing a CAGR of 26.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 25.3% during (2024 - 2031).
Integrating Artificial Intelligence (AI) with the Internet of Things (IoT) has resulted in various innovative applications across various industries. These applications leverage AI's capabilities to process and analyze the vast amounts of data generated by IoT devices, leading to more intelligent and automated systems.
Additionally, AI-driven IoT solutions can analyze data from vehicle sensors to predict potential mechanical failures before they occur. This helps schedule maintenance proactively and reduce unexpected breakdowns. AI-powered IoT systems in smart buildings analyze data from energy meters, HVAC systems, and lighting controls to optimize energy consumption and reduce costs.
The e-commerce boom drives demand for sophisticated supply chain management solutions. AI-powered IoT systems help optimize inventory management, track shipments in real time, and predict demand patterns, improving efficiency and reducing costs. AI in IoT enables personalized shopping experiences by analyzing customer behaviour and preferences. For e-commerce platforms in Mexico, this means better recommendations, targeted promotions, and improved customer service through smart chatbots and virtual assistants. According to the International Trade Administration (ITA), the domestic e-commerce industry was valued at USD 26.2 billion in 2022, representing a 23 percent increase over 2021.
Based on Technology, the market is segmented into Machine Learning & Deep Learning, and Natural Language Processing (NLP). Based on Component, the market is segmented into Platform, Software, and Services. Based on Vertical, the market is segmented into Manufacturing, Healthcare, BFSI, IT & Telecom, Retail & E-commerce, Energy & Utilities, Transportation & Logistics, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Salesforce, Inc.
- Softweb Solutions Inc.
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- SAP SE
- SAS Institute Inc.
- Hitachi Digital Services, LLC (Hitachi Ltd.)
- Oracle Corporation
- Google LLC
- PTC, Inc.
- IBM Corporation
- Cisco Systems, Inc.
- Microsoft Corporation
- Siemens AG
By Technology
- Machine Learning & Deep Learning
- Natural Language Processing (NLP)
- Platform
- Software
- Services
- Manufacturing
- Healthcare
- BFSI
- IT & Telecom
- Retail & E-commerce
- Energy & Utilities
- Transportation & Logistics
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America AI in IoT Market, by Technology
- 1.4.2 North America AI in IoT Market, by Component
- 1.4.3 North America AI in IoT Market, by Vertical
- 1.4.4 North America AI in IoT Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Feb – 2024, Aug) Leading Players
- 4.5 Porter Five Forces Analysis
- Chapter 5. North America AI in IoT Market by Technology
- 5.1 North America Machine Learning & Deep Learning Market by Region
- 5.2 North America Natural Language Processing (NLP) Market by Region
- Chapter 6. North America AI in IoT Market by Component
- 6.1 North America Platform Market by Country
- 6.2 North America Software Market by Country
- 6.3 North America Services Market by Country
- Chapter 7. North America AI in IoT Market by Vertical
- 7.1 North America Manufacturing Market by Country
- 7.2 North America Healthcare Market by Country
- 7.3 North America BFSI Market by Country
- 7.4 North America IT & Telecom Market by Country
- 7.5 North America Retail & E-commerce Market by Country
- 7.6 North America Energy & Utilities Market by Country
- 7.7 North America Transportation & Logistics Market by Country
- 7.8 North America Others Market by Country
- Chapter 8. North America AI in IoT Market by Country
- 8.1 US AI in IoT Market
- 8.1.1 US AI in IoT Market by Technology
- 8.1.2 US AI in IoT Market by Component
- 8.1.3 US AI in IoT Market by Vertical
- 8.2 Canada AI in IoT Market
- 8.2.1 Canada AI in IoT Market by Technology
- 8.2.2 Canada AI in IoT Market by Component
- 8.2.3 Canada AI in IoT Market by Vertical
- 8.3 Mexico AI in IoT Market
- 8.3.1 Mexico AI in IoT Market by Technology
- 8.3.2 Mexico AI in IoT Market by Component
- 8.3.3 Mexico AI in IoT Market by Vertical
- 8.4 Rest of North America AI in IoT Market
- 8.4.1 Rest of North America AI in IoT Market by Technology
- 8.4.2 Rest of North America AI in IoT Market by Component
- 8.4.3 Rest of North America AI in IoT Market by Vertical
- Chapter 9. Company Profiles
- 9.1 Salesforce, Inc.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.6 SWOT Analysis
- 9.2 Softweb Solutions Inc.
- 9.2.1 Company Overview
- 9.2.2 Recent strategies and developments:
- 9.2.2.1 Product Launches and Product Expansions:
- 9.2.3 SWOT Analysis
- 9.3 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental Analysis
- 9.3.4 Recent strategies and developments:
- 9.3.4.1 Partnerships, Collaborations, and Agreements:
- 9.3.5 SWOT Analysis
- 9.4 SAP SE
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Partnerships, Collaborations, and Agreements:
- 9.4.5.2 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 SAS Institute, Inc.
- 9.5.1 Company Overview
- 9.5.2 Recent strategies and developments:
- 9.5.2.1 Partnerships, Collaborations, and Agreements:
- 9.5.2.2 Product Launches and Product Expansions:
- 9.5.3 SWOT Analysis
- 9.6 Hitachi Digital Services, LLC (Hitachi Ltd.)
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.6 SWOT Analysis
- 9.7 Oracle Corporation
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.7.6 SWOT Analysis
- 9.8 Google LLC (Alphabet Inc.)
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.6 SWOT Analysis
- 9.9 PTC, Inc.
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.5.2 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
- 9.10. IBM Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Regional & Segmental Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.5.2 Acquisition and Mergers:
- 9.10.6 SWOT Analysis
- 9.11 Cisco Systems, Inc.
- 9.11.1 Company Overview
- 9.11.2 Financial Analysis
- 9.11.3 Regional Analysis
- 9.11.4 Research & Development Expense
- 9.11.5 Recent strategies and developments:
- 9.11.5.1 Partnerships, Collaborations, and Agreements:
- 9.11.5.2 Acquisition and Mergers:
- 9.11.6 SWOT Analysis
- 9.12 Microsoft Corporation
- 9.12.1 Company Overview
- 9.12.2 Financial Analysis
- 9.12.3 Segmental and Regional Analysis
- 9.12.4 Research & Development Expenses
- 9.12.5 Recent strategies and developments:
- 9.12.5.1 Partnerships, Collaborations, and Agreements:
- 9.12.5.2 Acquisition and Mergers:
- 9.12.6 SWOT Analysis
- 9.13 Siemens AG
- 9.13.1 Company Overview
- 9.13.2 Financial Analysis
- 9.13.3 Segmental and Regional Analysis
- 9.13.4 Research & Development Expense
- 9.13.5 Recent strategies and developments:
- 9.13.5.1 Partnerships, Collaborations, and Agreements:
- 9.13.5.2 Product Launches and Product Expansions:
- 9.13.5.3 Acquisition and Mergers:
- 9.13.6 SWOT Analysis
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