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Artificial Intelligence in Manufacturing Market worth $57.75 billion by 2030, growing at a CAGR of 39.04% - Exclusive Report by 360iResearch
Artificial Intelligence in Manufacturing Market | 360iResearch
The Global Artificial Intelligence in Manufacturing Market to grow from USD 5.74 billion in 2023 to USD 57.75 billion by 2030, at a CAGR of 39.04%.
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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.
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.
Market Segmentation & Coverage:
This research report categorizes the Artificial Intelligence in Manufacturing Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Deep Learning, Machine Learning Platforms, Machine Vision, Robotic Processes Automation, and Text Analytics & Natural Processing Language. The Robotic Processes Automation is projected to witness significant market share during forecast period.
Based on Application, market is studied across Cybersecurity, Field Services, Industrial Robots, Material Movement, Predictive Maintenance & Machinery Inspection, Production Planning, Quality Control, and Reclamation. The Reclamation is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Automobile, Energy & Power, Food & Beverages, Heavy Metals & Machine Manufacturing, Pharmaceuticals, and Semiconductor & Electronics. The Semiconductor & Electronics is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.23% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Artificial Intelligence in Manufacturing Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Artificial Intelligence in Manufacturing Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
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..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Artificial Intelligence in Manufacturing Market, by Technology
7. Artificial Intelligence in Manufacturing Market, by Application
8. Artificial Intelligence in Manufacturing Market, by End-User
9. Americas Artificial Intelligence in Manufacturing Market
10. Asia-Pacific Artificial Intelligence in Manufacturing Market
11. Europe, Middle East & Africa Artificial Intelligence in Manufacturing Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Artificial Intelligence in Manufacturing Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Artificial Intelligence in Manufacturing Market?
3. What is the competitive strategic window for opportunities in the Artificial Intelligence in Manufacturing Market?
4. What are the technology trends and regulatory frameworks in the Artificial Intelligence in Manufacturing Market?
5. What is the market share of the leading vendors in the Artificial Intelligence in Manufacturing Market?
6. What modes and strategic moves are considered suitable for entering the Artificial Intelligence in Manufacturing Market?
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