PUBLISHER: Market Research Future | PRODUCT CODE: 1596032
PUBLISHER: Market Research Future | PRODUCT CODE: 1596032
Global AI in Manufacturing Market Research Report Information By Type (Hardware, Software, Services) By Technology (Machine Learning (ML), Computer Vision, Natural Language Processing (NLP), Context-Aware Computing, Machine Reasoning, Deep Learning) By Deployment (On-Cloud and On-Premise) By Organization Size (SMEs and Large Enterprises) By Application Area (Predictive Maintenance and Machinery Inspection, Quality Control and Inspection, Production Planning and Management, Inventory Management Forecast Till 2032
In 2023, the manufacturing AI market was estimated to be worth USD 3,544.6 million. With a compound annual growth rate (CAGR) of 29.7% from 2024 to 2032, the AI in Manufacturing market industry is expected to increase from USD 4,384.1 million in 2024 to USD 28,343.6 million by 2032.
The term "AI in Manufacturing" describes how artificial intelligence technologies are incorporated into production procedures to improve output, effectiveness, and quality. To automate processes, forecast maintenance requirements, streamline supply chains, guarantee quality control, and enhance decision-making, machine learning, computer vision, robots, and data analytics are used. Manufacturers may cut expenses, limit downtime, and establish more adaptable and responsive production environments by utilizing AI.
Perspectives on Market Segments
The AI in Manufacturing market is divided into three segments based on type: hardware, software, and services.
Machine Learning (ML), Computer Vision, Natural Language Processing (NLP), Context-Aware Computing, Machine Reasoning, and Deep Learning are the technological segments that make up the market.
The market has been divided into two segments based on deployment: on-premises and on-cloud.
The AI in Manufacturing market is divided into two segments based on the size of the organization: SMEs and large enterprises.
The market for AI in manufacturing has been divided into several segments based on the end-use industry, including automotive, electronics and semiconductors, pharmaceuticals and chemicals, food and beverages, heavy metals and machinery, energy and utilities, textiles and apparel, aerospace and defense, consumer goods, and others. The market has also been divided into application areas, such as predictive maintenance and machinery inspection, quality control and inspection, production planning and management, inventory management, predictive analytics, robotics and automation, energy management, supply chain optimization, and others.
Regional Perspectives
With a 31.2% market share in 2023, Asia-Pacific leads the region in the AI in Manufacturing market. The market was valued at USD 1,327.0 million in 2023 and is expected to rise at a compound annual growth rate (CAGR) of 31.2% to reach USD 11,639.5 million in 2032.
In 2023, North America held a sizable portion of the market. Predictive maintenance and intelligent automation are made possible by the integration of artificial intelligence into precision manufacturing in the United States. In addition to making the nation more competitive in the global manufacturing market, this technology is also propelling significant advancements in the sector.
France, Germany, Italy, the United Kingdom, Russia, and the rest of Europe make up the subsegments of the European AI in Manufacturing market. Because of the government's expanded commitment to build smart factories throughout Europe, the European market is expected to rise steadily throughout the projection period.
The manufacturing sectors in the Middle East and Africa have been expanding significantly. Countries in the Middle East and Africa, including Saudi Arabia, Egypt, and the United Arab Emirates, have been making significant economic investments. This is one of the main elements supporting the region's manufacturing industry.
Additionally, businesses in the Middle East and Africa increase productivity, efficiency, cost savings, and product quality by implementing technology in the manufacturing sector, making them competitive on the global market.
NVIDIA, Intel, Siemens, IBM, GE, Microsoft Corporation, Robert Bosch, Amazon Web Services, Cisco Systems Inc., and Rockwell Automation are the market leaders for artificial intelligence in manufacturing.