The global artificial intelligence in manufacturing market revenue was around US$ 2.76 billion in 2022 and is estimated to reach US$ 62.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 41.4% during the forecast period from 2023 to 2031.
The term "artificial intelligence" (AI) in manufacturing describes the use of AI tools and methods in the manufacturing industry. AI is revolutionizing the manufacturing sector by enabling systems and machines to perform tasks that traditionally require human intelligence. Artificial intelligence (AI) in manufacturing utilizes solutions techniques such as machine learning and deep learning to optimize manufacturing processes while providing enhanced analysis and control capabilities to the end users.
Market Driving Factors
Increasing demand for supply chain optimization boosts market growth. This is due to the industries having started concentrating on delivering cutting-edge optimized supply chain services for customer satisfaction. In addition, artificial intelligence algorithms can leverage market trends, historical data, and exterior factors to accurately forecast demand. This aids manufacturers in optimizing inventory levels, resource allocation, and production schedules. AI can assess and identify threats in the supply chain, including disturbances such as geopolitical events, natural disasters, or supplier issues. Thus, manufacturers can execute contingency strategies and create a more resilient supply chain by proactively determining potential risks.
The increasing importance of technologically driven machinery and solutions for production processes has highlighted the need for smart manufacturing. Smart manufacturing manages the problems with conventional manufacturing while protecting the loopholes. Additionally, the penetration of artificial intelligence in manufacturing processes is observed to support the need for smart manufacturing, which will create opportunities for the market.
Shortage of foundational practices and technical knowledge hamper the market expansion.
Regional Analysis
Asia-Pacific dominated the market in terms of the rate. This can be attributed to the substantial change as AI technologies acquire quick acceptance and integration within manufacturing industries across the region. This technological change brought about by AI is conducted in a new era described by enhanced innovative advancements and operational efficiency. This disruptive technology is driving raised productivity, more efficient procedures, and encouraging innovation across a broad range of manufacturing sectors in the region.
North America accounted for a substantial share of the market. AI is being incorporated into precision manufacturing, allowing intelligent automation and predictive maintenance in the United States. This technology is not only improving the country's competitiveness on the global manufacturing stage but also increasing significant advances in the industry. The AI in manufacturing market in the region is distinguished by a dynamic ecosystem featuring research initiatives, startups, and strategic partnerships among industry leaders.
Segmentation Insights
Offering Insight
The software segment dominates the market during the projection period. Software solutions are highly adaptable and versatile, capable of being applied across a broad spectrum of manufacturing processes. Their inherent flexibility makes software the perfect option for an industry with diverse requirements. In addition, software solutions can be developed, tested, and executed with remarkable speed. This agility is important in manufacturing, where the capability to react swiftly to market changes and technological advances is important.
Technology Insight
The machine learning segment dominates the market in terms of the share. Machine learning plays a key and transformative role in AI in manufacturing, driving operational efficiency and innovation. This technology harnesses cutting-edge algorithms to derive insights, analyze data, and adapt, making it an asset in manufacturing. Machine learning is essential to visual product inspection, allowing automated defect detection and ensuring the production of high-quality items.
End Use Industry Insight
The automotive segment dominates the market in terms of the significant share. AI technologies have become vital components of contemporary automotive manufacturing processes, quality improvements, and facilitating efficiency enhancements. AI-powered autonomous machinery and robotic systems are entrusted with various tasks, including painting, welding, and assembly, assuring precise and constant operations.
Prominent Companies
Segmentation Outline
The global artificial intelligence in manufacturing market segmentation focuses on Offering, Technology, Application, End Use Industry, and Region.
By Offering
By Technology
By Application
By End Use Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET, BY OFFERING
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
5.4 SERVICES
6 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET, BY TECHNOLOGY
6.1 OVERVIEW
6.2 NATURAL LANGUAGE PROCESSING
6.3 MACHINE LEARNING
6.4 CONTEXT AWARENESS
6.5 COMPUTER VISION
7 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 PRODUCTION PLANNING
7.3 PROCESS CONTROL
7.4 QUALITY CONTROL
7.5 LOGISTICS AND INVENTORY MANAGEMENT
7.6 PREDICTIVE MAINTENANCE AND MACHINERY INSPECTION
7.7 OTHERS
8 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET, BY END USE INDUSTRY
8.1 OVERVIEW
8.2 HEALTHCARE AND PHARMACEUTICAL
8.3 FOOD AND BEVERAGES
8.4 AUTOMOTIVE
8.5 ELECTRICAL AND ELECTRONICS
8.6 ENERGY AND POWER
8.7 HEAVY METAL AND MACHINE MANUFACTURING
8.8 OTHERS
9 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 ABB LTD
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 ALPHABET INC
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 COGNEX CORPORATION
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 FANUC CORPORATION
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 GENERAL ELECTRIC COMPANY
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 HONEYWELL INTERNATIONAL INC
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 INTEL CORPORATION
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM)
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 MICROSOFT CORPORATION
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 NVIDIA CORPORATION
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 ORACLE CORPORATION
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 ROBERT BOSCH GMBH
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 ROCKWELL AUTOMATION, INC
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 SAP SE
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 SIEMENS AG
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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