[194 Pages Report] The Artificial Intelligence in Manufacturing Market size was estimated at USD 5.87 billion in 2023 and expected to reach USD 8.58 billion in 2024, at a CAGR 46.34% to reach USD 84.47 billion by 2030.
Artificial Intelligence (AI) in the manufacturing market comprises a variety of intelligent technologies, tools, and platforms that integrate advanced capabilities such as machine learning, natural language processing, robotics, and computer vision. These technologies aim to optimize production processes, enhance product quality, reduce operational costs, and improve overall efficiency across industries including automotive, aerospace & defense, electronics & semiconductors, pharmaceuticals, textiles, food & beverages. Several factors influence the growth of AI in manufacturing, including the growing need for automation, rapidly evolving industries, and increasing emphasis on operational efficiency and reducing cost. Additionally, advancements in the Industrial Internet of Things (IIoT), big data analytics (BDA), and cloud computing services have facilitated the seamless integration of AI solutions with traditional manufacturing systems. These novel technologies offer potential opportunities for enhancing supply chain management (SCM), predictive maintenance (PdM), inventory optimization & control (IOC), and material handling (MH), among other core applications. On the other hand, limitations include high upfront investments required for implementing advanced hardware infrastructure suitable for AI tools, and concerns regarding latency-sensitive applications, and limited skilled workforce. This challenges small- and medium-sized enterprises with limited financial resources. However, the growing adoption of AI technology in machinery inspection and predictive maintenance and promising government initiatives & investments for AI in manufacturing creates an opportunity for AI in the manufacturing market to grow in the coming years.
Regional Insights
The adoption of AI in manufacturing is gaining momentum worldwide as industries seek enhanced productivity and reduced operational costs. The Americas, particularly the United States, has been a significant hub for AI adoption in manufacturing. The market has been expanding steadily due to increasing labor costs, a need for efficiency, and a focus on innovation. APAC has seen rapid growth in AI adoption in manufacturing, driven by countries, such as China, Japan, South Korea, and India, as it is focusing on automation and smart manufacturing, leveraging AI for tasks, including robotic assembly, process optimization, and quality control. The governments of China, Japan, Singapore, and India are investing in artificial intelligence and boosting AI in the manufacturing industry for smart factories and Industry 4.0. In the EMEA region, AI in the manufacturing market is growing owing to increasing infrastructure development and chemical production. The European Commission has proposed adopting AI for manufacturing and boosting digital technologies in the sector. In the Middle East and Africa, the manufacturers of oil & gas are adopting AI to streamline their production processes while improving productivity. The global manufacturing industry is poised for unprecedented growth driven by AI advancements as manufacturers and governments navigate the challenges developed nations face and embrace opportunities emerging economies present.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Artificial Intelligence in Manufacturing Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Artificial Intelligence in Manufacturing Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Artificial Intelligence in Manufacturing Market, highlighting leading vendors and their innovative profiles. These include Advanced Micro Devices, Inc., AIBrain Inc., Bright Machines, Inc., Cisco Systems, Inc., ForwardX Technology Co., Ltd., General Electric Company, General Vision Inc., Google, LLC by Alphabet Inc., Graphcore Limited, Hewlett Packard Enterprise Company, Intel Corporation, International Business Machines Corporation, Landing AI, Medtronic PLC, Micron Technology Inc., Microsoft Corporation, Mitsubishi Electric Corporation, Novartis International AG, Nvidia Corporation, Oracle Corporation, Path Robotics, Progress Software Corporation, Rethink Robotics GmbH, Rockwell Automation Inc., SAP SE, Siemens AG, SparkCognition, Inc., UBTECH Robotics, Inc., and Uptake Technologies Inc..
Market Segmentation & Coverage
This research report categorizes the Artificial Intelligence in Manufacturing Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Technology
- Deep Learning
- Machine Learning Platforms
- Machine Vision
- Robotic Processes Automation
- Text Analytics & Natural Processing Language
- Application
- Cybersecurity
- Field Services
- Industrial Robots
- Material Movement
- Predictive Maintenance & Machinery Inspection
- Production Planning
- Quality Control
- Reclamation
- End-User
- Automobile
- Energy & Power
- Food & Beverages
- Heavy Metals & Machine Manufacturing
- Pharmaceuticals
- Semiconductor & Electronics
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Artificial Intelligence in Manufacturing Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Artificial Intelligence in Manufacturing Market?
- What are the technology trends and regulatory frameworks in the Artificial Intelligence in Manufacturing Market?
- What is the market share of the leading vendors in the Artificial Intelligence in Manufacturing Market?
- Which modes and strategic moves are suitable for entering the Artificial Intelligence in Manufacturing Market?
US $
Euro €
GBP £
