North America IoT Market (2025-2031) | Outlook, Industry, Growth, Forecast, Companies, Analysis, Trends, Value, Revenue, Share & Size

North America IoT Market Highlights

Report Name	North America IoT Market
Forecast Period	2025-2031
Forecast Size	USD 79.9 billion By 2031
CAGR	7.3%
Growing Sector	Agriculture and Healthcare

Topics Covered in the North America IoT Market Report

North America IoT Market report thoroughly covers the By Countries, By Components, By Verticals, By Organization Size, and By Focus Area. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Cellular Glass  Market Size & Analysis 

North America IoT Market was valued at USD 7.3 billion and is expected to reach USD 79.9 billion , growing at a CAGR of around 7.3% from 2025-2031. North America IoT Market is poised for significant growth in the coming years, driven by rapid urbanization, increasing connectivity, and the expanding need for digital solutions across various sectors. As of 2023, the market size is estimated to be valued at approximately USD 27 billion, with projections to reach over USD 79.9 billion by 2031.

This growth is supported by advancements in mobile network infrastructure, particularly with the rollout of 5G technologies, which enhance IoT capabilities across urban and rural areas alike. Key drivers include applications in agriculture, smart cities, healthcare, and logistics, allowing for improved efficiency and data-driven decision-making. The diverse landscape of the continent presents both challenges and opportunities for players within the IoT ecosystem, making North America a dynamic market for innovation and investment.

North America IoT Market Synopsis

North America IoT Market is experiencing rapid growth fueled by urbanization and a heightened demand for connectivity and digital solutions. The growth is largely driven by the deployment of 5G technology and its applications in sectors like agriculture, healthcare, smart cities, and logistics. While the region presents unique challenges, its diverse landscape offers ample opportunities for innovation and investment within the IoT ecosystem, positioning North America as a key player in the global technology landscape.

According to 6Wresearch, the North America IoT Market size is estimated to grow rapidly, reaching at a CAGR of 7.3% during the forecast period of 2025-2031. The growth of the IoT market in North America is influenced by several key factors. The increasing penetration of mobile devices and internet access is enhancing connectivity across urban and rural areas, paving the way for IoT solutions to flourish. Additionally, government initiatives aimed at promoting digital transformation and smart technologies are creating a supportive regulatory environment, encouraging investment in IoT projects. Additionally, the rising awareness of the benefits of IoT applications in sectors such as agriculture, healthcare, and logistics is driving demand for innovative solutions that can enhance efficiency and productivity.

However, the North America IoT industry also faces notable challenges. Infrastructure limitations, particularly in rural regions, hinder the widespread implementation of IoT technologies. There is also a scarcity of skilled professionals equipped to handle IoT systems, which can slow down deployment and integration efforts. Concerns regarding data security and privacy further complicate the landscape, as businesses and consumers alike remain wary of potential risks associated with connected devices. Addressing these challenges will be crucial for capitalizing on the vast opportunities that the American IoT market presents.

IoT Market in North America : Novel Trends 

The IoT market in North America is constantly evolving, with new trends emerging and reshaping the industry. One notable trend is the increasing adoption of edge computing, which allows for data processing to occur closer to its source instead of relying on cloud-based servers. This approach enables faster response times and reduces network congestion, making it well-suited for applications such as autonomous vehicles and industrial automation. Another trend is the integration of artificial intelligence (AI) and machine learning (ML) technologies into IoT systems, allowing for real-time data analysis and predictive maintenance capabilities. Additionally, there has been a surge in partnerships and collaborations between companies across different sectors to develop innovative IoT solutions tailored to specific industries.

With the rapid growth and constant evolution of the IoT market in North America, it is essential for businesses to remain adaptable and innovative to stay ahead of the competition. The region's diverse landscape presents unique challenges that require creative solutions, making it an exciting and dynamic market for IoT players.

Investment Opportunities in North America IoT Industry 

The North America IoT industry offers a plethora of investment opportunities for both established players and new entrants. With the increasing demand for connected devices and solutions, there is ample room for growth in various sectors. The agriculture sector, in particular, presents significant investment potential as farmers look towards technology to improve productivity and optimize resource usage. Additionally, there are opportunities in developing smart cities with integrated IoT solutions to enhance efficiency and sustainability.

Investing in research and development (R&D) is also crucial for businesses looking to stay ahead of the curve in the rapidly evolving IoT market. Developing innovative technologies such as edge computing, AI/ML integration, and secure data management systems can provide a competitive advantage.

Furthermore, collaborations and partnerships among companies in different industries can also open up opportunities for investment in the North America IoT market. By pooling resources and expertise, businesses can develop customized solutions tailored to specific sectors, creating a win-win situation for all parties involved.

Leading Players Expanding the North America IoT Market Share 

The rapid growth and increasing demand for IoT solutions in North America have attracted major players to invest and expand their presence in the region. Some of the leading companies operating in the North America IoT market include Cisco Systems, IBM Corporation, Intel Corporation, Microsoft Corporation, and Google LLC. These companies are continually investing in R&D to develop innovative technologies that cater to the diverse needs of different industries.

Moreover, these players are also actively engaging in partnerships and collaborations with other businesses to tap into new markets and expand their customer base. For instance, Cisco has partnered with several companies in sectors such as smart cities, healthcare, and manufacturing to provide customized IoT solutions tailored to their specific needs.

Government Regulations for Effective Market Performance 

To ensure the effective performance and growth of the North America IoT market, government regulations play a critical role. In recent years, governments across the region have been actively promoting digital transformation and supporting the adoption of smart technologies. For instance, in the United States, the Federal Communications Commission (FCC) has introduced policies to promote investment and innovation in 5G technology, which is essential for widespread deployment of IoT solutions.

Furthermore, governments are also implementing regulations to address concerns regarding data privacy and security. For example, the California Consumer Privacy Act (CCPA) requires businesses to disclose how they collect and use consumer data, giving individuals more control over their personal information. Such regulations not only protect consumers but also instill trust in businesses, boosting the overall growth of the IoT market.

Market Segmentation Analysis

The report offers a comprehensive study of the subsequent market segments and their leading categories.

US to Dominate the Market - By Countries 

According to Dhaval, Research Manager, 6Wresearch, The US is projected to dominate the North America IoT market during the forecast period. The country has been at the forefront of digital transformation and has a well-established infrastructure for IoT adoption. Furthermore, increasing investments by major players in R&D activities and partnerships with other businesses drive the growth of the US IoT market.

Hardware to Dominate the Market -By Component 

The hardware segment is expected to hold the largest share of the North America IoT market due to the high demand for connected devices and sensors. However, with the integration of AI/ML technologies, the software segment is also poised for significant growth in the coming years.

5G to Dominate the Market - By Technology 

Among the various technologies used in IoT systems, 5G is expected to dominate the North America market. With its high speed and low latency capabilities, 5G networks can support a larger number of connected devices, making it well-suited for widespread implementation of IoT solutions. Moreover, the deployment of 5G infrastructure across the region is expected to drive further growth in this segment.

Surveillance & Monitoring to Dominate the Market - By Application 

The application segment of surveillance and monitoring is expected to dominate the North America IoT market. With the increasing need for security and real-time data monitoring, businesses are turning towards IoT solutions for efficient surveillance and monitoring systems. Additionally, the implementation of smart city initiatives also drives the demand for IoT-based surveillance and monitoring solutions in various sectors such as transportation, healthcare, and retail. 

Industrial/ Manufacturing to Dominate the Market - By Vertical 

The industrial/manufacturing vertical is projected to dominate the North America IoT market, driven by the increasing adoption of smart manufacturing technologies and Industry 4.0 initiatives. However, other sectors such as healthcare and energy/utilities are also expected to see significant growth due to their reliance on IoT solutions for improving efficiency and productivity. The agriculture sector is also poised for substantial growth with the adoption of precision farming techniques and IoT-based solutions for monitoring crop health and optimizing resource usage. 

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year: 2024
• Forecast Data until 2031.
• Key Performance Indicators Impacting the Market.
• Factors Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• North America IoT Market Outlook
• Market Size of North America IoT Market, 2024
• Forecast of North America IoT Market, 2031
• Historical Data and Forecast of North America IoT Revenues & Volume for the Period 2021 - 2031
• North America IoT Market Trend Evolution
• North America IoT Market Drivers and Challenges
• North America IoT Price Trends
• North America IoT Porter's Five Forces
• North America IoT Industry Life Cycle
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Components for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Semiconductor for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Wireless for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Components for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Semiconductor for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Wireless for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Components for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Semiconductor for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Wireless for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Verticals for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Road for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Rail for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Air for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Maritime for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Verticals for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Road for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Rail for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Air for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Maritime for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Verticals for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Road for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Rail for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Air for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Maritime for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Organization Size for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Large Enterprises for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By SMEs for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Organization Size for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Large Enterprises for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By SMEs for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Organization Size for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Large Enterprises for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By SMEs for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Focus Area for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Smart Manufacturing for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Smart Transportation/Mobility for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Smart Energy and Utilities for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Smart Retail for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Connected Healthcare for the Period 2021 - 2031
• Historical Data and Forecast of North America IoT Market Revenues & Volume By Smart Agriculture for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Focus Area for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Smart Manufacturing for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Smart Transportation/Mobility for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Smart Energy and Utilities for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Smart Retail for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Connected Healthcare for the Period 2021 - 2031
• Historical Data and Forecast of United States IoT Market Revenues & Volume By Smart Agriculture for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Focus Area for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Smart Manufacturing for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Smart Transportation/Mobility for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Smart Energy and Utilities for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Smart Retail for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Connected Healthcare for the Period 2021 - 2031
• Historical Data and Forecast of Canada IoT Market Revenues & Volume By Smart Agriculture for the Period 2021 - 2031
• North America IoT Market - Key Performance Indicators
• North America IoT Market - Import Export Trade Statistics
• North America IoT Market - Opportunity Assessment By Countries
• North America IoT Market - Opportunity Assessment By Components
• North America IoT Market - Opportunity Assessment By Verticals
• North America IoT Market - Opportunity Assessment By Organization Size
• North America IoT Market - Opportunity Assessment By Focus Area
• North America IoT Market - Top Companies Market Share
• North America IoT Market - Top Companies Profiles
• North America IoT Market - Comparison of Players in Technical and Operating Parameters
• North America IoT Market - Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Countries

• United States
• Canada

By Component 

• Hardware
• Software
• Services

By Technology 

• 2G
• 3G
• 4G
• LTE-M
• NB-LTE-M
• NB-IoT
• 5G

By Application

• Alarms & Detectors
• Smart Appliances
• Smart Metering
• Smart Parking
• Smart Street Light
• Surveillance & Monitoring
• Trackers

By Vertical 

• Agriculture
• Automotive & Transportation
• Building Automation
• Consumer Electronics
• Energy & Utilities
• Healthcare
• Industrial/ Manufacturing