Press release
Soaring Demand Set to Propel AI in Manufacturing Market to $24.39 Billion by 2029
AI in Manufacturing
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AI in Manufacturing Market Size Growth Forecast: What to Expect by 2025?_x000D_
In the past few years, the market size of AI in manufacturing has experienced tremendous growth. The market, currently valued at $4.11 billion in 2024, is projected to increase to $5.79 billion in 2025, boasting a Compound Annual Growth Rate (CAGR) of 40.8%. The massive growth in the historic period is due to factors like energy efficiency and sustainability, the ability to customize and personalize, cost-cutting measures, initiatives towards employee upskilling and training, as well as supply chain optimization._x000D_
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How Will the AI in Manufacturing Market Size Evolve and Grow by 2029?_x000D_
The artificial intelligence sector in manufacturing is anticipated to experience substantial expansion in the coming years. It's projected to soar to $24.39 billion by 2029, with a compound annual growth rate (CAGR) of 43.3%. Expected growth influencers in this time frame include the shift towards edge computing, initiatives for sustainable manufacturing, increased focus on cybersecurity, improved synergy between humans and machines, and strengthened supply chain resilience. Key trends in the outlook period entail the integration of robotics and automation, quality assurance and defect identification, applications of augmented reality, data-influenced decision making, and self-governed manufacturing processes._x000D_
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What Drivers Are Propelling the Growth of AI in Manufacturing Market Forward?_x000D_
The growth of Artificial Intelligence in the manufacturing market is projected to be fuelled by the escalating demand for automobiles. An automobile, also known as a car, or a motorcar, is a wheeled vehicle configured for the conveyance of passengers or merchandise on highways. AI is integrated into the auto industry in various forms including autonomous vehicle development, predictive upkeep, data accumulation and scrutiny, quality control and examination. The application of AI in the auto sector enables not just the design of the vehicle but also facilitates the creation of the tools and robots used in the manufacturing process. AI currently plays a significant role in the vehicle design, manufacturing, supply chain management and post-production. For example, according to the data from the European Automobile Manufacturers Association, a trade organization headquartered in Belgium, the global production of motor vehicles reached 85.4 million units in 2022, growing 5.7% compared to 2021. Thus, the surging demand for automobiles is a key driver behind the expansion of AI in the manufacturing industry._x000D_
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Which Emerging Trends Are Transforming the AI in Manufacturing Market in 2025?_x000D_
The trend of technological innovation is rapidly growing in significance within the AI in manufacturing market. Firms within this sector are regularly adopting cutting-edge technologies to maintain their market positions. Case in point, in March 2023, Leela AI, a software development company based in the US, introduced the Leela Platform, their inaugural 'commonsense' visual AI platform designed to boost manufacturing yield. This platform allows manufacturers to access insights about production processes that are typically beyond the reach of Industrial Internet of Things (IIOT) sensor analytics. With the wealth of insights provided, users can compare productivity across shifts, different workstations and locations, detect bottlenecks, and uncover superior methodologies. Industrial engineers, CI officers, and line supervisors are all able to leverage and reap the benefits of the Leela Platform. The platform operates like a continuous time-and-motion study, by recognising and overseeing frontline activities as personnel interact with equipment, machinery, components, and products._x000D_
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What Are the Key Segments in the AI in Manufacturing Market?_x000D_
The ai in manufacturingmarket covered in this report is segmented - _x000D_
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1) By Offering: Hardware, Software, Services_x000D_
2) By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision_x000D_
3) By Deployment: Cloud, On-Premise_x000D_
4) By Application: Predictive maintenance and machinery inspection, Material Movement, Production Planning, Field Services, Quality Control, Cybersecurity, Industrial Robots, Reclamation_x000D_
5) By Industry: Automobile, Energy And Power, Semiconductor And Electronics, Pharmaceutical, Heavy Metal And Machine Manufacturing, Food And Beverage, Other Industries_x000D_
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Subsegments:_x000D_
1) By Hardware: Sensors, Robots, Processors, Automation Systems, IoT Devices_x000D_
2) By Software: Machine Learning Software, Data Analytics Software, Quality Control Software, Supply Chain Management Software, Customer Relationship Management (CRM) Software_x000D_
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Who Are the Key Players Shaping the AI in Manufacturing Market's Competitive Landscape?_x000D_
Major companies operating in the AI in manufacturing market report are Nvidia Corporation, The International Business Machines Corporation, Siemens AG, General Electric Company, SAP SE, Amazon Inc., Mitsubishi Electric Corporation, Rockwell Automation Inc., Robert Bosch GmbH, Google LLC, Intel Corporation, Micron Technology Inc., Oracle Corporation, Cisco Systems Inc., Microsoft Corporation, Hilscher Gesellschaft für Systemautomation GmbH, Beckhoff Automation GmbH, Phoenix Contact GmbH & Co. KG, Veo Robotics, Automation Anywhere, Machina Labs Inc., Advanced Micro Devices Inc., SoluLab, Keyence Corporation, LeewayHertz, Citadel Analytics, Omron Corporation, Yokogawa Electric Corporation, Cognex Corporation, Bosch Rexroth AG_x000D_
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What Geographic Markets Are Powering Growth in the AI in Manufacturing Market?_x000D_
Asia-Pacific was the largest region in the AI in manufacturing market in 2024. It is expected to be the fastest-growing region in the global AI in manufacturing market report during the forecast period. The regions covered in the ai in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work._x000D_
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