The North America Embedded Analytics in IOT Devices Market would witness market growth of 34.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Embedded Analytics in IOT Devices Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,512.4 million by 2031. The Canada market is experiencing a CAGR of 37.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 36.1% during (2024 - 2031).
Adopting IoT devices equipped with embedded analytics is revolutionizing traditional farming practices in agriculture. Farmers can use IoT sensors to monitor soil moisture levels, weather conditions, and crop health. Embedded analytics enable these sensors to process data locally, providing farmers with actionable insights to inform irrigation practices, pest management, and overall crop management strategies.
Moreover, this precision agriculture approach maximizes yield and promotes sustainable farming practices by optimizing resource use. As the population grows, harnessing embedded analytics within IoT devices will be crucial in addressing food security challenges and ensuring efficient agricultural practices.
The growing demand for electronics and automobiles is also driving an increase in the need for embedded analytics, which is causing the manufacturing sector in Mexico to experience a boom in demand. In the first quarter of 2024, the manufacturing sector contributed an impressive $6.26 trillion MXN to the country's GDP, underscoring the critical role of manufacturing in Mexico's economic framework. To enhance productivity and retain a competitive advantage, manufacturers in Mexico are increasingly adopting sophisticated embedded analytics solutions within their IoT devices. During this transformation, the Mexican government has been instrumental in enabling it by encouraging investments in sophisticated manufacturing technology. These technologies are designed to streamline production processes and boost overall efficiency.
Free Valuable Insights: The Embedded Analytics in IOT Devices Market is Predict to reach USD 14.4 Billion by 2031, at a CAGR of 35.1%
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Component, the market is segmented into Software, Hardware, and Services. Based on Deployment Type, the market is segmented into Cloud, On-Premises, and Hybrid. Based on Application, the market is segmented into Predictive Maintenance, Asset Management, Operational Efficiency, Customer Experience, Security & Monitoring, and Other Application. Based on Vertical, the market is segmented into Manufacturing, Healthcare, Transportation & Logistics, Energy & Utilities, Retail, and Other Vertical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Organization Size
By Component
By Deployment Type
By Application
By Vertical
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 