The Latin America, Middle East and Africa Artificial Intelligence of Things (AIoT) Market would witness market growth of 29.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Artificial Intelligence of Things (AIoT) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,354 million by 2031. The Argentina market is exhibiting a CAGR of 30.1% during (2024 - 2031). Additionally, The UAE market would experience a CAGR of 28.1% during (2024 - 2031).
AIoT powers remote patient monitoring in healthcare by processing data from wearable devices in real-time. This ensures timely detection of health anomalies, such as irregular heart rhythms, enabling preventive care and reducing emergency hospital visits. Beyond retail and healthcare, AIoT’s real-time analytics play a pivotal role in industries like manufacturing, where it detects equipment issues, and transportation, where it optimizes routes and fleet management. By providing actionable insights and enabling proactive decision-making, AIoT is transforming industries and empowering them to respond efficiently to dynamic challenges.
The increasing demand for tailored consumer experiences is prompting enterprises to implement AIoT solutions. By combining AI’s analytical power with IoT’s data-gathering capabilities, companies can deliver tailored and dynamic experiences to their customers. In smart retail, AIoT systems analyze customer behavior and preferences in real-time, enabling personalized product recommendations, dynamic in-store adjustments, and targeted discounts. Predictive customer analytics further enhances this by forecasting customer needs, allowing businesses to proactively meet demands and improve satisfaction, especially in sectors like e-commerce and hospitality.
The healthcare sector in the Middle East and North Africa (MENA) is driving AIoT adoption through its rapid expansion and technological innovation. According to the UAE Ministry of Economy’s report Investing in Healthcare in UAE, the region’s healthcare sector is projected to grow from $144 billion in 2020 to $243 billion by 2023, with Dubai serving as a key contributor. AIoT technologies are transforming healthcare delivery in MENA, enabling applications such as IoT-connected medical devices, real-time patient monitoring, and AI-driven diagnostics. These advancements enhance healthcare efficiency, accessibility, and patient outcomes, making AIoT a cornerstone of the region’s healthcare transformation. Hence, LAMEA is emerging as a significant player in the market, leveraging its diverse sectoral needs to fuel adoption and growth.
Free Valuable Insights: The Worldwide Artificial Intelligence of Things (AIoT) Market is Projected to reach USD 95.31 Billion by 2031, at a CAGR of 26.9%
Based on Deployment, the market is segmented into Cloud and On-Premises. Based on Component, the market is segmented into Hardware, Software, and Services. Based on End use, the market is segmented into B2B, B2G, and B2C. Based on Application, the market is segmented into Video Surveillance, Supply Chain Management, Inventory Management, Predictive Maintenance, and Other Application. Based on Vertical, the market is segmented into Manufacturing, Automotive, Healthcare, Retail, BFSI, Logistics, and Agriculture & Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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