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North America IoT Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Component [Hardware, Software (Device Management, Application Management, Data Management, and Network Management), and Services], Enterprise Size (Large Enterprises and SMEs), and Application (Building & Automation, Smart Energy & Utilities, Smart Manufacturing, Connected Logistics, Banking & Financial Services, Aerospace & Defense, and Others)

The North America IoT market is expected to grow from US$ 182.08 billion in 2023 to US$ 1,234.05 billion by 2030; it is estimated to grow at a CAGR of 31.4% from 2023 to 2030.

Low Cost of Connected Devices and Increase in Investments in IoT

The number of IoT-based devices that share data by connecting wirelessly to a network is growing tremendously. Also, sensor technology embedded in IoT devices is budget-friendly, advanced, and widely available in the market. The easy availability and cost-effectiveness of devices create possibilities for new sensor applications, including large-scale monitoring and detection. Moreover, mobile connectivity has improved with the advent of 5G, further accelerating investments in IoT-based solutions. Large enterprises continue to invest their resources in IoT, as they are increasingly utilizing the technology as part of their business plans by rapidly revamping their IoT plans and executing long-term IoT deals. For instance, in January 2023, Godrej & Boyce announced its plan to invest in IoT-based systems to improve customer experience and increase their global footprint as well as market share. The company’s material handling business division planned to double its investment in technology to support various operations, including sales, manufacturing, and sustainability across its value chain. Also, businesses are investing in connected device sensors, from tools and equipment to vehicles and buildings, and leveraging various layers of analytics to create actionable data sources that derive enhanced business insights. The shift toward IoT adoption is increasing in the IoT industry as several businesses collect and analyze information for better decision-making and increased transparency. The implementation of IoT enables innovation and revenue streams, provides better customer experiences and asset utilization, improves employee productivity, and increases efficiency in supply chain and logistics operations. Therefore, the benefits of employing IoT are a key factor boosting the investment in the cloud, data centers, global networks, and big data analytics, which is driving the North America IoT market growth.

North America IoT Market Overview

The US, Canada, and Mexico are among the major economies in North America. According to the Microsoft 2021 IoT Signals report, 81% of businesses in the US combine AI with IoT, which is slightly more than the global average, i.e., 79%. Organizations are implementing AI to acquire capabilities such as visual image recognition and interpretation, and natural language recognition and processing, which allows them to offer improved user experience. The adoption of IoT-based software and services has increased across several industry verticals in the region. Manufacturing and energy industries are employing the synergistic abilities of machine learning algorithms, AI, and IoT to foresee and prevent equipment failures to increase the sustainability of their operations and improve the safety of their workforces. Further, the mobility industry combines AI and IoT to monitor driver safety and optimize routes in real time.

With the continuous shift from AI, analytics, and business logic to devices at the edge, businesses are solving issues related to privacy and latency, and enabling offline solutions, which have become a major trend in North America.

North America IoT Market Revenue and Forecast to 2030 (US$ Billion)

North America IoT Market Segmentation

The North America IoT market is segmented based on component, enterprise size, application, and country. Based on component, the North America IoT market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2023. Furthermore, software is segmented into device management, application management, data management, and network management.

Based on enterprise size, the North America IoT market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.

Based on application, the North America IoT market is segmented into building & automation, smart energy & utilities, smart manufacturing, connected logistics, banking & financial services, aerospace & defense, and others. The smart manufacturing segment held the largest market share in 2023.

Based on country, the North America IoT market is segmented into the US, Canada, and Mexico. The US dominated the North America IoT market share in 2023.

Amazon Web Services Inc.; Cisco Systems Inc.; Google LLC; Software AG; International Business Machines Corp; Intel Corp; Microsoft Corp; Oracle Corp; Siemens AG; and SAP SE are the leading companies operating in the North America IoT market.

TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Company Profile:
3.2.4 Sources:
3.2.5 Calculation Base and Assumptions
3.2.6 List of Companies Analyzed
4. North America IoT Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America IoT Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Number of Smart City Projects
5.1.2 Low Cost of Connected Devices and Increase in Investments in IoT
5.1.3 Rise in Implementation of IoT in Automotive Sector
5.2 Market Restraints
5.2.1 Data Security and Interoperability Issues
5.3 Market Opportunities
5.3.1 Progressive Deployment of 5G Networks
5.4 Future Trends
5.4.1 Massive Expansion of E-Commerce Industry
5.4.2 Increase in Digitalization Across Industries
5.5 Impact Analysis of Drivers and Restraints
6. IoT Market – North America Market Analysis
6.1 North America IoT Market Overview
6.2 North America IoT Market Revenue and Volume Forecast and Analysis
7. North America IoT Market – By Component
7.1 Overview
7.2 IoT Market, by Component (2022 and 2030)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4 Software
7.4.1 Overview
7.4.2 Software: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.3 Device Management
7.4.3.1 Overview
7.4.3.2 Device Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.4 Application Management
7.4.4.1 Overview
7.4.4.2 Application Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.5 Data Management
7.4.5.1 Overview
7.4.5.2 Data Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.6 Network Management
7.4.6.1 Overview
7.4.6.2 Network Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.5 Services
7.5.1 Overview
7.5.2 Service: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
8. North America IoT Market Analysis – by Enterprise Size
8.1 Overview
8.2 IoT Market, by Enterprise Size (2022 and 2030)
8.3 Large Enterprises
8.3.1 Overview
8.3.2 Large Enterprises: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
8.4 SMEs
8.4.1 Overview
8.4.2 SMEs: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9. North America IoT Market Analysis – by Application
9.1 Overview
9.2 IoT Market, by Application (2022 and 2030)
9.3 Building & Automation
9.3.1 Overview
9.3.2 Building & Automation: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.4 Smart Energy & Utilities
9.4.1 Overview
9.4.2 Smart Energy & Utilities: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.5 Smart Manufacturing
9.5.1 Overview
9.5.2 Smart Manufacturing: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.6 Connected Logistics
9.6.1 Overview
9.6.2 Connected Logistics: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.7 Smart Mobility and Transportation
9.7.1 Overview
9.7.2 Smart Mobility and Transportation: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.8 Banking & Financial Services
9.8.1 Overview
9.8.2 Banking & Financial Services: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.9 Aerospace & Defense
9.9.1 Overview
9.9.2 Aerospace & Defense: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.10 Others
9.10.1 Overview
9.10.2 Others: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
10. North America IoT Market – by Country Analysis
10.1 North America: IoT Market
10.1.1 North America IoT Market, by Country
10.1.1.1 US IoT Market – Revenue and Forecast to 2030
10.1.1.1.1 US IoT Market, By Component
10.1.1.1.2 US IoT Market, By Software
10.1.1.1.3 US IoT Market, By Enterprise Size
10.1.1.1.4 US IoT Market, By Application
10.1.1.2 Canada IoT Market – Revenue and Forecast to 2030
10.1.1.2.1 Canada IoT Market, By Component
10.1.1.2.2 Canada IoT Market, By Software
10.1.1.2.3 Canada IoT Market, By Enterprise Size
10.1.1.2.4 Canada IoT Market, By Application
10.1.1.3 Mexico IoT Market – Revenue and Forecast to 2030
10.1.1.3.1 Mexico IoT Market, By Component
10.1.1.3.2 Mexico IoT Market, By Software
10.1.1.3.3 Mexico IoT Market, By Enterprise Size
10.1.1.3.4 Mexico IoT Market, By Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Amazon Web Services Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cisco Systems Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Google LLC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Software AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 International Business Machines Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Intel Corp
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Microsoft Corp
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Oracle Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Siemens AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 SAP SE
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index

LIST OF TABLES

Table 1. North America IoT Market Revenue and Forecast to 2030 (US$ Billion)
Table 2. US IoT Market – Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 3. US IoT Market – Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 4. US IoT Market – Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 5. US IoT Market – Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 6. Canada IoT Market – Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 7. Canada IoT Market – Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 8. Canada IoT Market – Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 9. Canada IoT Market – Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 10. Mexico IoT Market – Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 11. Mexico IoT Market – Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 12. Mexico IoT Market – Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 13. Mexico IoT Market – Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. North America IoT Market Segmentation
Figure 2. North America IoT Market Segmentation – By Country
Figure 3. North America IoT Market Overview
Figure 4. North America IoT Market, by Component
Figure 5. North America IoT Market, by Software
Figure 6. North America IoT Market, by Enterprise Size
Figure 7. North America IoT Market, by Country
Figure 8. North America – PEST Analysis
Figure 9. North America IoT Market- Ecosystem Analysis
Figure 10. North America Expert Opinion
Figure 11. North America IoT Market: Impact Analysis of Drivers and Restraints
Figure 12. North America IoT Market Revenue and Forecast (US$ Billion)
Figure 13. North America IoT Market Revenue Share, by Component (2022 and 2030)
Figure 14. Hardware: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 15. Software: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 16. Device Management: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 17. Application Management: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 18. Data Management: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 19. Network Management: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 20. Service: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 21. North America IoT Market Revenue Share, by Enterprise Size (2022 and 2030)
Figure 22. Large Enterprises: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 23. SMEs: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 24. North America IoT Market Revenue Share, by Application (2022 and 2030)
Figure 25. Building & Automation: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 26. Smart Energy & Utilities: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 27. Smart Manufacturing: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 28. Connected Logistics: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 29. Smart Mobility and Transportation: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 30. Banking & Financial Services: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 31. Aerospace & Defense: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 32. Others: North America IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 33. North America IoT Market, by Country – Revenue (2022) (US$ Million)
Figure 34. North America IoT Market, by Country, 2022 & 2030 (%)
Figure 35. US IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 36. Canada IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 37. Mexico IoT Market – Revenue and Forecast to 2030 (US$ Billion)

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America IoT market.
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the North America IoT market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America IoT market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

The List of Companies – North America IoT Market

● Amazon Web Services Inc.
● Cisco Systems Inc.
● Google LLC
● Software AG
● International Business Machines Corp
● Intel Corp
● Microsoft Corp
● Oracle Corp
● Siemens AG
● SAP SE

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