Generative Artificial Intelligence (AI) in Automation Market Report 2024

This Generative Artificial Intelligence (AI) In Automation market 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 historic and forecast market growth by geography.

The generative artificial intelligence (AI) in automation market size has grown rapidly in recent years. It will grow from $1.31 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth during the historic period can be attributed to increased computational power, the rise of big data, advancements in natural language processing, growing demand for personalized solutions, widespread adoption of cloud computing, and the evolution of neural networks.

The generative artificial intelligence (AI) in automation market size is expected to see rapid growth in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 17%. The growth in the forecast period can be attributed to the increasing demand for intelligent process automation, cross-industry adoption of AI technologies, rising investments in AI, expanding applications across various sectors, a growing focus on operational efficiency, and the need for enhanced customer experiences. Major trends expected include advancements in machine learning models, integration with IoT devices, improvements in natural language processing capabilities, adoption of AI-driven decision-making tools, personalized AI solutions, and the development of more ethical and transparent AI systems.

The growing use of industrial robots is projected to drive the expansion of the generative AI in automation market in the future. Industrial robots are programmable machines designed to carry out various manufacturing tasks with precision, speed, and consistency. Their increased adoption is due to their ability to boost production efficiency, enhance product quality, reduce labor costs, and handle complex tasks accurately. Generative AI in automation helps these robots by optimizing their operations through advanced planning and decision-making, improving their adaptability to new tasks with minimal reprogramming, and generating precise, context-aware instructions and simulations for intricate manufacturing processes. For instance, the International Federation of Robotics, a Germany-based organization that supports the global robotics industry, reported that in June 2023, Europe saw 72,000 new industrial robot installations in 2022, marking a 6% increase from 2021. Thus, the rising adoption of industrial robots is fueling the growth of the generative AI in automation market.

Key players in the generative artificial intelligence (AI) in automation market are developing workflow automation platforms to streamline complex workflows by automating repetitive tasks and decision-making processes. These platforms are crucial for optimizing operations, reducing manual effort, and ensuring consistent execution across various tasks. For example, Tungsten Automation, a US-based software company, introduced TotalAgility 8 in February 2024. This business process management (BPM) and workflow automation platform features AI-powered Copilots and extensive document libraries to help organizations streamline and optimize their processes. With this launch, Tungsten Automation reinforces its leadership in the Intelligent Automation sector, driving significant changes for organizations.

In January 2024, SmartBear, a US-based software company, acquired Reflect for an undisclosed sum. This acquisition aims to enhance SmartBear’s software testing capabilities by integrating generative AI-based testing tools, which can improve automation, efficiency, and accuracy in software quality assurance. Reflect, a UK-based software company, uses generative AI to transform software testing automation, allowing users to create tests using simple English instructions.

Major companies operating in the generative artificial intelligence (AI) in automation market are Microsoft Corporation, Amazon Web Services Inc., Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Salesforce Inc., Nvidia Corporation, Zebra Technologies Corp., Autodesk Inc., SAS Institute Inc., OpenAI, Databricks Inc., UiPath Inc., Quantiphi, Darktrace plc, Automation Anywhere Inc., C3.ai Inc., Blue Prism, Google DeepMind Technologies Limited, Cerebras Systems Inc., Syntiant Corp., Clarifai Inc., Trifacta.

North America was the largest region in the generative artificial intelligence (AI) in automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative artificial intelligence (AI) in automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the generative artificial intelligence (AI) in automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative artificial intelligence (AI) in automation involves the use of AI algorithms to autonomously generate, optimize, and enhance processes, designs, and systems within various automated industrial and technological environments. This technology boosts efficiency, fosters innovation, reduces operational costs, improves decision-making, accelerates product development, and enables the handling of complex tasks autonomously.

Key technologies in the generative AI for automation market include computer vision, natural language processing (NLP), reinforcement learning, and deep learning. Computer vision allows computers to interpret and understand visual information, such as images and videos, in a manner similar to human vision. Applications of generative AI in automation span robotic process automation (RPA), process optimization, intelligent chatbots, predictive maintenance, quality control, anomaly detection, and more. End users of these technologies encompass sectors such as automotive, aerospace, electronics, and consumer goods.

The generative AI in automation market research report is one of a series of new reports that provides generative AI in automation market statistics, including the generative AI in automation industry global market size, regional shares, competitors with generative AI in automation market share, detailed generative AI in automation market segments, market trends, and opportunities, and any further data you may need to thrive in the generative AI in automation industry. These generative AI in automation market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The generative artificial intelligence (AI) in automation market consists of revenues earned by entities by providing services such as consulting services, system integration, custom AI development, training and support, and managed services. The market value includes the value of related goods sold by the service provider or included within the service offering. Generative artificial intelligence (AI) in automation also includes sales of graphics processing units, tensor processing units, and central processing units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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