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Artificial Intelligence (AI) In Industrial Machinery Market Report 2023-2032: Market Size, Growth Drivers And Key Trends
Artificial Intelligence (AI) In Industrial Machinery
The Business Research Company's Artificial Intelligence (AI) In Industrial MachineryGlobal Market Report 2023 growing use of artificial intelligence (AI) as the major driver for the Artificial Intelligence (AI) In Industrial Machinerymarket's growth in the forecast period. The industrial sector is a component of the economy comprised of companies that assist other companies in manufacturing, delivering, or creating their goods. Artificial intelligence optimizes industrial processes, predicts machinery issues, and facilitates improved smart services, resulting in increased productivity, problem identification, and reduced machine failures for manufacturers.
the global artificial intelligence (AI) in industrial machinery market is expected to grow from $1.15 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 31.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence (AI) in industrial machinery market is expected to reach $4.28 billion in 2027 at a CAGR of 29.6%.
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Major competitors in the Artificial Intelligence (AI) In Industrial Machinery market are Microsoft Corporation, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, Intel Corporation, International Business Machines Corporation.
Product Innovation are a key trend gaining popularity in the Artificial Intelligence (AI) In Industrial Machinerymarket. Major companies operating in the AI in industrial machinery market are focused on developing innovative products to strengthen their position in the market. For instance, in November 2022, Advantech Co. Ltd., a Taiwan-based machine automation, Internet of things (IoT) intelligent systems, and embedded computing company, in partnership with Actility, a France-based advanced IoT connectivity solutions company, launched a unique and innovative integrated AI-based solution for the rotating machine. The new solution is built using the high-performance WISE-6610 LoRaWAN gateway, the Advantech WISE-2410 vibration sensor, the sophisticated Advantech iMachine or prognostics and health management (PHM) application, and Actility's ThingPark Enterprise IoT network administration platform. It assists the machine operation group in the implementation of machine predictions and health monitoring.
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The Artificial Intelligence (AI) In Industrial Machinery market is segmented -
• By Component: Hardware, Software, Services
• By Technology: Machine Learning, Computer Vision, Context Awareness, Natural Language Processing
• By Application: Predictive Maintenance, Quality Control, Process Optimization, Supply Chain Optimization, Intelligent Robotics, Autonomous Vehicles And Guided Systems, Energy Management, Human-Machine Interfaces, Other Applications
• By End-Use: Commercial, Agriculture, Construction, Packaging, Food Processing, Mining, Semiconductor Manufacturing
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Artificial Intelligence (AI) In Industrial Machinery market.
The Business Research Company's "Global Artificial Intelligence (AI) In Industrial Machinery Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Artificial Intelligence (AI) In Industrial Machinery Market Include:
1. Artificial Intelligence (AI) In Industrial Machinery Market Executive Summary
2. Artificial Intelligence (AI) In Industrial Machinery Market Segments
3. Artificial Intelligence (AI) In Industrial Machinery Market Size And Artificial Intelligence (AI) In Industrial Machinery Market Growth Rate
4. Key Artificial Intelligence (AI) In Industrial Machinery Market Trends
5. Major Artificial Intelligence (AI) In Industrial Machinery Market Drivers
……
25. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Industrial Machinery Market
26. Top Artificial Intelligence (AI) In Industrial Machinery Companies
27. Artificial Intelligence (AI) In Industrial Machinery Market Opportunities And Strategies
28. Artificial Intelligence (AI) In Industrial Machinery Market, Conclusions And Recommendations
29. Appendix
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