This report describes and explains the AI in manufacturing market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global AI in manufacturing market reached a value of nearly $2.93 billion in 2023, having grown at a compound annual growth rate (CAGR) of 27.7% since 2018. The market is expected to grow from $2.93 billion in 2023 to $17.5 billion in 2028 at a rate of 42.9%. The market is then expected to grow at a CAGR of 39.4% from 2028 and reach $92.08 billion in 2033.
Growth in the historic period resulted from the widespread adoption of industrial robots, increased demand for electronic devices, increased demand for renewable energy. Factors that negatively affected growth in the historic period were lack of expertise in AI.
Going forward, the growing automobile sector, increasing government initiatives on AI, growing digital transformation, growing adoption of IoT devices will drive the growth. Factor that could hinder the growth of the AI in manufacturing market in the future include privacy and security challenges.
The AI in manufacturing market is segmented by offering into hardware, software and services. The software market was the largest segment of the AI in manufacturing market segmented by offering, accounting for 47.8% or $1.4 billion of the total in 2023. Going forward, the services segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by offering, at a CAGR of 50.7% during 2023-2028.
The AI in manufacturing market is segmented by technology into machine learning, natural language processing, context aware computing and computer vision. The machine learning market was the largest segment of the AI in manufacturing market segmented by technology, accounting for 35.3% or $1.03 billion of the total in 2023. Going forward, the natural language processing segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by technology, at a CAGR of 51.9% during 2023-2028.
The AI in manufacturing market is segmented by industry into automobile, energy and power, semiconductor and electronics, pharmaceuticals, heavy metal and machine manufacturing, food and beverage and other industries. The automobile market was the largest segment of the AI in manufacturing market segmented by industry, accounting for 24.3% or $713.2 million of the total in 2023. Going forward, the pharmaceutical segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by industry, at a CAGR of 55.6% during 2023-2028.
The AI in manufacturing market is segmented by deployment into cloud and on-premise. The on-premise market was the largest segment of the AI in manufacturing market segmented by deployment, accounting for 56.9% or $1.67 billion of the total in 2023. Going forward, the cloud segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by deployment, at a CAGR of 45% during 2023-2028.
North America was the largest region in the AI In Manufacturing Market, accounting for 39.6% or $1.16 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the AI in manufacturing market will be Asia Pacific and South America where growth will be at CAGRs of 45.5% and 44.3% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 43% and 41.4% respectively.
The global AI in manufacturing market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 49.7% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. International Business Machines Corporation was the largest competitor with a 12% share of the market, followed by Microsoft Corporation with 8.4%, Amazon.com, Inc. with 5.8%, Oracle Corporation with 4.9%, Siemens AG with 4%, Alphabet Inc. with 3.8%, Intel Corporation with 3.3%, SAP SE with 2.8%, NVIDIA Corporation with 2.5% and Mitsubishi Electric Corporation with 2.2%.
The top opportunities in the AI in manufacturing market segmented by offering will arise in the software segment, which will gain $7.98 billion of global annual sales by 2028. The top opportunities in the AI in manufacturing market segmented by technology will arise in the natural language processing segment, which will gain $5.3 billion of global annual sales by 2028. The top opportunities in the AI in manufacturing market segmented by industry will arise in the automobile segment, which will gain $4.27 billion of global annual sales by 2028. The AI in manufacturing market size will gain the most in USA at $4.85 billion.
Market-trend-based strategies for the AI in manufacturing market include transformative AI services for enhanced manufacturing efficiency, advancements in visual AI solutions transforming manufacturing operations, innovative AI inspection software revolutionizing manufacturing competitiveness, innovative AI solutions for predictive maintenance in manufacturing, fostering innovation through strategic collaborations.
Player-adopted strategies in the AI in manufacturing market include focus on new product solutions to better serve the industry and to strengthen their position, focus on strengthening its operational capabilities through new product developments, focus on enhancing its business operations through strategic collaborations and partnerships, focus on expanding its operational capabilities through strategic partnerships and collaborations and focus on developing new product solutions through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the AI in manufacturing companies to focus on tailored AI solutions for manufacturing growth, focus on visual AI solutions for manufacturing advancement, focus on AI inspection software for manufacturing advancement, focus on AI-powered predictive maintenance solutions, focus on machine learning and computer vision segments, focus on cloud segment, expand in emerging markets, continue to focus on developed markets, focus on collaborative technological partnerships, provide competitively priced offerings, continue to use B2B promotions, and focus on automobile and semiconductor and electronics segments.
The global AI in manufacturing market reached a value of nearly $2.93 billion in 2023, having grown at a compound annual growth rate (CAGR) of 27.7% since 2018. The market is expected to grow from $2.93 billion in 2023 to $17.5 billion in 2028 at a rate of 42.9%. The market is then expected to grow at a CAGR of 39.4% from 2028 and reach $92.08 billion in 2033.
Growth in the historic period resulted from the widespread adoption of industrial robots, increased demand for electronic devices, increased demand for renewable energy. Factors that negatively affected growth in the historic period were lack of expertise in AI.
Going forward, the growing automobile sector, increasing government initiatives on AI, growing digital transformation, growing adoption of IoT devices will drive the growth. Factor that could hinder the growth of the AI in manufacturing market in the future include privacy and security challenges.
The AI in manufacturing market is segmented by offering into hardware, software and services. The software market was the largest segment of the AI in manufacturing market segmented by offering, accounting for 47.8% or $1.4 billion of the total in 2023. Going forward, the services segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by offering, at a CAGR of 50.7% during 2023-2028.
The AI in manufacturing market is segmented by technology into machine learning, natural language processing, context aware computing and computer vision. The machine learning market was the largest segment of the AI in manufacturing market segmented by technology, accounting for 35.3% or $1.03 billion of the total in 2023. Going forward, the natural language processing segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by technology, at a CAGR of 51.9% during 2023-2028.
The AI in manufacturing market is segmented by industry into automobile, energy and power, semiconductor and electronics, pharmaceuticals, heavy metal and machine manufacturing, food and beverage and other industries. The automobile market was the largest segment of the AI in manufacturing market segmented by industry, accounting for 24.3% or $713.2 million of the total in 2023. Going forward, the pharmaceutical segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by industry, at a CAGR of 55.6% during 2023-2028.
The AI in manufacturing market is segmented by deployment into cloud and on-premise. The on-premise market was the largest segment of the AI in manufacturing market segmented by deployment, accounting for 56.9% or $1.67 billion of the total in 2023. Going forward, the cloud segment is expected to be the fastest growing segment in the AI in manufacturing market segmented by deployment, at a CAGR of 45% during 2023-2028.
North America was the largest region in the AI In Manufacturing Market, accounting for 39.6% or $1.16 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the AI in manufacturing market will be Asia Pacific and South America where growth will be at CAGRs of 45.5% and 44.3% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 43% and 41.4% respectively.
The global AI in manufacturing market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 49.7% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. International Business Machines Corporation was the largest competitor with a 12% share of the market, followed by Microsoft Corporation with 8.4%, Amazon.com, Inc. with 5.8%, Oracle Corporation with 4.9%, Siemens AG with 4%, Alphabet Inc. with 3.8%, Intel Corporation with 3.3%, SAP SE with 2.8%, NVIDIA Corporation with 2.5% and Mitsubishi Electric Corporation with 2.2%.
The top opportunities in the AI in manufacturing market segmented by offering will arise in the software segment, which will gain $7.98 billion of global annual sales by 2028. The top opportunities in the AI in manufacturing market segmented by technology will arise in the natural language processing segment, which will gain $5.3 billion of global annual sales by 2028. The top opportunities in the AI in manufacturing market segmented by industry will arise in the automobile segment, which will gain $4.27 billion of global annual sales by 2028. The AI in manufacturing market size will gain the most in USA at $4.85 billion.
Market-trend-based strategies for the AI in manufacturing market include transformative AI services for enhanced manufacturing efficiency, advancements in visual AI solutions transforming manufacturing operations, innovative AI inspection software revolutionizing manufacturing competitiveness, innovative AI solutions for predictive maintenance in manufacturing, fostering innovation through strategic collaborations.
Player-adopted strategies in the AI in manufacturing market include focus on new product solutions to better serve the industry and to strengthen their position, focus on strengthening its operational capabilities through new product developments, focus on enhancing its business operations through strategic collaborations and partnerships, focus on expanding its operational capabilities through strategic partnerships and collaborations and focus on developing new product solutions through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the AI in manufacturing companies to focus on tailored AI solutions for manufacturing growth, focus on visual AI solutions for manufacturing advancement, focus on AI inspection software for manufacturing advancement, focus on AI-powered predictive maintenance solutions, focus on machine learning and computer vision segments, focus on cloud segment, expand in emerging markets, continue to focus on developed markets, focus on collaborative technological partnerships, provide competitively priced offerings, continue to use B2B promotions, and focus on automobile and semiconductor and electronics segments.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 AI in Manufacturing Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global AI in Manufacturing Market Segmentation
11 AI in Manufacturing Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 AI in Manufacturing Market, Conclusions and Recommendations
25 Appendix
Executive Summary
AI in Manufacturing Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global AI in manufacturing market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for AI in manufacturing? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The AI in manufacturing market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider AI in manufacturing market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by offering, by technology, by deployment and by industry.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the AI in manufacturing market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by offering, by technology, by deployment and by industry in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for AI in manufacturing providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Offering: Hardware; Software; Services2) by Technology: Machine Learning; Natural Language Processing; Context Aware Computing; Computer Vision.
3) by Industry: Automobile; Energy and Power; Semiconductor and Electronics; Pharmaceuticals; Heavy Metal and Machine Manufacturing; Food and Beverage; Other Industries.
4) by Deployment: Cloud; On-Premise
Key Companies Mentioned: International Business Machines Corporation;MicrosoftCorporation;Amazon.com, Inc.; Oracle Corporation; Siemens AG
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; AI in manufacturing indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- International Business Machines Corporation
- Microsoft Corporation
- Amazon.com, Inc.
- Oracle Corporation
- Siemens AG
- Alphabet Inc.
- Intel Corporation
- SAP SE
- NVIDIA Corporation
- Mitsubishi Electric Corporation
- Wipro Limited
- Tata Group
- Reliance Industries Limited
- Mahindra Group
- Larsen & Toubro (L&T)
- Aditya Birla Group
- Godrej Group
- Foxconn Technology Group
- Huawei Technologies Co., Ltd
- Haier Group Corporation
- Fujitsu Limited
- Rolls-Royce Holdings plc
- BAE Systems plc
- Renishaw plc
- GKN Aerospace
- Jaguar Land Rover
- Mipsology Nissan Motor Corporation
- Siemens Digital Industries
- Cosentino
- Bosch
- Dassault Systèmes
- Indra Sistemas
- ABB Group
- Leonardo S.p.A
- Kaspersky Lab
- Yandex
- Skolkovo Foundation
- UiPath
- Hewlett Packard Enterprise
- Bitdefender
- Comarch
- ABB (Poland)
- Cognex (Czech Republic)
- ESET
- Qualcomm Incorporated
- Micron Technology
- Google LLC
- Advanced Micro Devices (AMD), Inc.
- Apple Inc.
- Dell Technology Inc.
- Amazon Web Services, Inc.
- Leela Al
- Cogniac
- Sight Machine Inc.
- Telefônica Brasil
- Suzano S.A
- Open AI
- Empiria.ai
- Tata Consultancy Services (TCS)
- Mobileye
- Saudi Aramco
- Musashi Seimitsu
- SABIC
- Mubadala Investment Company
- Qatar Petroleum
- Qatar Airways
- Aselsan
- Türk Telekom
- Siemens (South Africa)
- Toyota South Africa Motors (TSAM)
- General Electric (GE) (Kenya)
- Safaricom
- Talaat Moustafa Group
- El Sewedy Electric
- Dangote Group
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | May 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 2.93 Billion |
| Forecasted Market Value ( USD | $ 92.08 Billion |
| Compound Annual Growth Rate | 41.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 75 |
