North America Artificial Intelligence of Things (AIoT) Market Size, Share & Trends Analysis Report By Deployment (Cloud and On-Premises), By Component (Hardware, Software, and Services), By End use, By Application, By Vertical, By Country and Growth Forecast, 2024 - 2031

The North America Artificial Intelligence of Things (AIoT) Market is expected to 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 is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $25.78 billion 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.

List of Key Companies Profiled

• Google LLC (Alphabet Inc.)
• IBM Corporation
• Oracle Corporation
• Salesforce, Inc.
• SAS Institute Inc.
• Microsoft Corporation
• PTC Inc.
• SAP SE
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• GE Vernova Group

Market Report Segmentation

By Deployment

• Cloud
• On-Premises

By Component

• Hardware
• Software
• Services

By End use

• B2B
• B2G
• B2C

By Application

• Video Surveillance
• Supply Chain Management
• Inventory Management
• Predictive Maintenance
• Other Application

By Vertical

• Manufacturing
• Automotive
• Healthcare
• Retail
• BFSI
• Logistics
• Agriculture & Others

By Country

• US
• Canada
• Mexico
• Rest of North America