The North America Artificial Intelligence of Things (AIoT) Market would witness market growth of 26.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America 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 $25,787.7 million by 2031. The Canada market is expected to witness a CAGR of 28.6% during (2024 - 2031). Additionally, The Mexico market would register a CAGR of 27.7% during (2024 - 2031).
Artificial Intelligence of Things (AIoT) refers to the integration of Artificial Intelligence (AI) with the Internet of Things (IoT) to create intelligent, interconnected systems that can analyze data, make decisions, and perform actions autonomously. By combining IoT's capability to collect and transmit data through connected devices with AI's power to process, analyze, and learn from that data, AIoT enables smarter, more efficient, and highly automated solutions across a wide range of applications. As a result, AIoT is driving innovation and efficiency across various sectors, including healthcare, manufacturing, transportation, retail, energy, and smart cities, making it one of the most promising technology markets today.
AIoT transforms this data into actionable insights, enabling businesses to optimize operations, reduce costs, and improve decision-making. For instance, in industrial environments, the integration of AIoT facilitates real-time monitoring of equipment, enables the prediction of potential malfunctions prior to their occurrence, and automates maintenance schedules. This significantly diminishes downtime and enhances overall productivity.
The Canadian government has supported AIoT growth through initiatives such as the Pan-Canadian Artificial Intelligence Strategy, which fosters innovation and research in AI technologies. According to Statistics Canada, the finance and insurance industry has emerged as one of the fastest adopters of AI technologies, with strong implications for the market. Among businesses in finance and insurance utilizing AI (10.9%), nearly 66.8% reported using virtual agents or chatbots, while 34.2% employed AI-driven data analytics. These numbers highlight how AIoT technologies, which combine AI-powered decision-making with IoT-enabled data collection, are transforming traditional industries by improving efficiency, enhancing customer interactions, and enabling smarter, real-time operational strategies. Thus, the region will present lucrative growth opportunities for the market throughout the forecast period.
Free Valuable Insights: The Artificial Intelligence of Things (AIoT) Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
By Deployment
By Component
By End use
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