Artificial Intelligence in Manufacturing Market Size [2031]
Artificial Intelligence in Manufacturing Market Size [2031]
Segments - Artificial Intelligence in Manufacturing Market by Offering (Software, Hardware, and Services), Technology (Context Awareness, Machine Learning, Natural Language Processing, Computer Vision, and Others), Application (Predictive Maintenance, Quality Control, Cybersecurity, Machinery Inspection, and Others), End-use (Energy & Power, Automotive, Metals & Heavy Machinery, Food & Beverage, Healthcare & Pharmaceutical, Mining, Semiconductors & Electronics, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-5942
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Report Description
Artificial Intelligence in Manufacturing Market Outlook 2031
The global artificial intelligence in manufacturing market size was USD 3.4 billion in 2022 and is likely to reach USD 23.5 billion by 2031, expanding at a CAGR of 24% during 2023–2031. The market growth is attributed to the advancements in automation and Internet of Things technology.
The growth of the market is attributed to the growth of automation and industrial Internet of Things technology. Many manufacturing industries from various product lines in China, South Korea, and Japan have adopted robots with AI-integrated systems and big data technologies. Moreover, many companies consistently focus on product launches, further propelling the market. For instance,
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On August 8, 2023, NVIDIA Corporation launched NVIDIA OVX servers, which have NVIDIA L40S GPU, a universal data center processor. This system is designed to accelerate complex and computer-intensive applications, such as AI training and 3D designing.
The market report states that the COVID-19 pandemic had a considerable impact on the global artificial intelligence in manufacturing market, due to disruptions in the supply chain and raw material availability across various regions, which affected the overall manufacturing industry. Many products required on-site manufacturing during the pandemic, which is not managed from remote locations, thus many businesses registered low growth.
Artificial Intelligence in Manufacturing Market Dynamics
Major Drivers
Increasing demand for managing large and complex datasets is expected to boost the market during the forecast period. Data obtained by supply chains and enterprises through sensors are important for successfully operating a manufacturing project.
Additionally, increasing adoption of industrial robots in manufacturing plants and operations is projected to boost the market. Moreover, the rising usage rate of machine vision cameras in manufacturing services is further anticipated to drive the market.
Existing Restraints
High implementation cost of advanced artificial intelligence technologies into manufacturing machinery is expected to impede the market growth. Many manufacturers are not willing to embrace new technologies, due to risk management concerns, which are expected to affect their financial budgets in the long run. Additionally, concerns regarding the inaccuracy and inefficiency of AI are likely to restrain the market.
Emerging Opportunities
Surging popularity of machine learning and natural language processing techniques for advanced enterprise processing is anticipated to create lucrative opportunities for the market players. AI improves productivity by focusing on specific processes and delivering desired and real-time outcomes effectively.
This creates high revenue generation opportunities for the key players in the market. Furthermore, several developing nations are engaged in boosting manufacturing activities, which is likely to create growth opportunities in the market.
Scope of Artificial Intelligence in Manufacturing Market Report
The report includes an assessment of trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Artificial Intelligence in Manufacturing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Offering (Software, Hardware, and Services), Technology (Context Awareness, Machine Learning, Natural Language Processing, Computer Vision, and Others), Application (Predictive Maintenance, Quality Control, Cybersecurity, Machinery Inspection, and Others), and End-use (Energy & Power, Automotive, Metals & Heavy Machinery, Food & Beverage, Healthcare & Pharmaceutical, Mining, Semiconductors & Electronics, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
AIBrain Inc.; Amazon Web Services, Inc.; General Electric; Intel Corporation; Microsoft; Mitsubishi Electric Corporation; NVIDIA Corporation; Rockwell Automation; SAP SE; Siemens; and Vicarious |
Artificial Intelligence in Manufacturing Market Segment Insights
Offering Segment Analysis
Based on offering, the AI in manufacturing market is divided into software, hardware, and services. The software segment is projected to expand at a major growth rate during the projection period, as it performs intelligent functions.
Several complexities such as learning, reasoning, problem-solving, knowledge representation, and perception require intelligent software. This propels the demand for AI-based software manufacturing techniques and further boosts the segment.
Technology Segment Analysis
On the basis of technology, the global market is categorized into context awareness, machine learning, natural language processing, computer vision, and others. The machine learning segment is projected to expand at a considerable CAGR during the forecast period, as it helps in effective decision-making.
This helps in predictive analysis and better business growth decisions. These benefits of using machine learning technology in manufacturing are further anticipated to boost the segment during the assessment period.
The computer vision segment is anticipated to account for a significant market share during the forecast period, due to the surging use of AI in optimization and monitoring. Image sensors and cameras are highly used in monitoring and analyzing real-time production processes and resolving any concerns affecting the manufacturing operations.
Furthermore, AI-assisted service robots act as visual guides in handling and reducing hazards in workplace operations. Thus, such beneficial factors of applying AI in computer vision technology propel the segment.
Application Segment Analysis
On the basis of application, the global market is segregated into predictive maintenance, quality control, cybersecurity, machinery inspection, and others. The predictive maintenance segment is projected to expand at a considerable CAGR during the forecast period, as it predicts any failure or damage in the machinery or equipment.
This prevents further maintenance activities and saves businesses from heavy financial burdens. Thus, such factors allow for the identification and breakdown of the trends and patterns of the machinery. This further propels the segment.
The quality control segment is expected to hold a significant share of the market, as AI integration helps in operating quality management tools effectively. When AI is integrated into quality control applications, manufacturers maintain the quality standards of the manufacturing operations and produce highly efficient products. Thus, these benefits of using AI fuel the quality control segment.
End-use Segment Analysis
On the basis of end-use, the AI in manufacturing market is segmented into energy & power, automotive, metals & heavy machinery, food & beverage, healthcare & pharmaceutical, mining, semiconductors & electronics, and others.
The metals & heavy machinery segment is expected to register robust growth during the projection period, as AI helps the manufacturers analyze the conditions of the machines to avoid wastages or losses. This saves a significant amount of time and costs for the company, which, in turn, is fueling the segment.
The healthcare & pharmaceutical segment is expected to hold a significant share of the market, owing to the rising number of research and development investments among the healthcare and medicine manufacturing companies.
AI helps in clear medical imaging for manufacturing effective medical products; thus, AI is an essential component of medical manufacturing, which further drives the segment. For instance,
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On January 17, 2022, Microsoft announced the establishment of The Artificial Intelligence Industry Innovation Coalition (AI3C), which facilitates the implementation of AI in pharmaceuticals and healthcare. This offers a wide range of guidelines, practices, and resources to the healthcare organization and leads to a focus on health equity, ethical innovation, and reduced clinical burnout.
Regional Outlook
In terms of region, the global AI in manufacturing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period, as several industries in countries, including South Korea, China, Japan, and India, use mechanic robots, which require AI integration.
These industries use AI to store data and use it in training robots with deep learning algorithms. Moreover, countries are revolutionizing with rapid industrialization, which is boosting the demand for AI in the region. These factors are expected to drive the regional market.
The market in North America is anticipated to expand at a rapid pace during the forecast period, due to the high demand for advanced manufacturing techniques across different sectors, such as food & beverages, cosmetics & pharmaceuticals, and medical packaging.
These sectors register huge consumer demand, which facilitates their requirement for robust manufacturing technology. Thus, they are rapidly adopting AI, which, in turn, is boosting the regional market. Additionally, the presence of major market players in the region further increases the scope for market growth in the region.
Segments
The AI in manufacturing market has been segmented on the basis of
Offering
- Software
- Hardware
- Services
Technology
- Context Awareness
- Machine Learning
- Natural Language Processing
- Computer Vision
- Others
Application
- Predictive Maintenance
- Quality Control
- Cybersecurity
- Machinery Inspection
- Others
End-use
- Energy & Power
- Automotive
- Metals & Heavy Machinery
- Food & Beverage
- Healthcare & Pharmaceutical
- Mining
- Semiconductors & Electronics
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- AIBrain Inc.
- Amazon Web Services, Inc.
- General Electric
- Intel Corporation
- Microsoft
- Mitsubishi Electric Corporation
- NVIDIA Corporation
- Rockwell Automation
- SAP SE
- Siemens
- Vicarious
Competitive Landscape
Key players operating in the global AI in manufacturing market include AIBrain Inc.; Amazon Web Services, Inc.; General Electric; Intel Corporation; Microsoft; Mitsubishi Electric Corporation; NVIDIA Corporation; Rockwell Automation; SAP SE; Siemens; and Vicarious.
Several companies are implementing market expansion & growth strategies, such as divestitures, partnerships, acquisitions, R&D investments, mergers, collaborations, and product launches, to boost their market share. For instance,
-
On January 10, 2023, Intel Corporation launched 4th Gen Intel Xeon Scalable processors, Intel Xeon CPU Max Series, and Intel Data Center GPU Max Series, which helps its customers to leverage the performance of their machines.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Artificial Intelligence in Manufacturing Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Artificial Intelligence in Manufacturing Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Artificial Intelligence in Manufacturing Market - Supply Chain
4.5. Global Artificial Intelligence in Manufacturing Market Forecast
4.5.1. Artificial Intelligence in Manufacturing Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Artificial Intelligence in Manufacturing Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Artificial Intelligence in Manufacturing Market Absolute $ Opportunity
5. Global Artificial Intelligence in Manufacturing Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Applications
5.3.1. Predictive Maintenance
5.3.2. Quality Control
5.3.3. Cybersecurity
5.3.4. Machinery Inspection
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Artificial Intelligence in Manufacturing Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Artificial Intelligence in Manufacturing Market Size and Volume Forecast by End Users
6.3.1. Energy & Power
6.3.2. Automotive
6.3.3. Metals & Heavy Machinery
6.3.4. Food & Beverage
6.3.5. Healthcare & Pharmaceutical
6.3.6. Mining
6.3.7. Semiconductors & Electronics
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Artificial Intelligence in Manufacturing Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Artificial Intelligence in Manufacturing Demand Share Forecast, 2019-2026
8. North America Artificial Intelligence in Manufacturing Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Applications
8.4.1. Predictive Maintenance
8.4.2. Quality Control
8.4.3. Cybersecurity
8.4.4. Machinery Inspection
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Artificial Intelligence in Manufacturing Market Size and Volume Forecast by End Users
8.7.1. Energy & Power
8.7.2. Automotive
8.7.3. Metals & Heavy Machinery
8.7.4. Food & Beverage
8.7.5. Healthcare & Pharmaceutical
8.7.6. Mining
8.7.7. Semiconductors & Electronics
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Artificial Intelligence in Manufacturing Demand Share Forecast, 2019-2026
9. Latin America Artificial Intelligence in Manufacturing Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Applications
9.4.1. Predictive Maintenance
9.4.2. Quality Control
9.4.3. Cybersecurity
9.4.4. Machinery Inspection
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Artificial Intelligence in Manufacturing Market Size and Volume Forecast by End Users
9.7.1. Energy & Power
9.7.2. Automotive
9.7.3. Metals & Heavy Machinery
9.7.4. Food & Beverage
9.7.5. Healthcare & Pharmaceutical
9.7.6. Mining
9.7.7. Semiconductors & Electronics
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Artificial Intelligence in Manufacturing Demand Share Forecast, 2019-2026
10. Europe Artificial Intelligence in Manufacturing Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Applications
10.4.1. Predictive Maintenance
10.4.2. Quality Control
10.4.3. Cybersecurity
10.4.4. Machinery Inspection
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Artificial Intelligence in Manufacturing Market Size and Volume Forecast by End Users
10.7.1. Energy & Power
10.7.2. Automotive
10.7.3. Metals & Heavy Machinery
10.7.4. Food & Beverage
10.7.5. Healthcare & Pharmaceutical
10.7.6. Mining
10.7.7. Semiconductors & Electronics
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Artificial Intelligence in Manufacturing Demand Share Forecast, 2019-2026
11. Asia Pacific Artificial Intelligence in Manufacturing Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Applications
11.4.1. Predictive Maintenance
11.4.2. Quality Control
11.4.3. Cybersecurity
11.4.4. Machinery Inspection
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Artificial Intelligence in Manufacturing Market Size and Volume Forecast by End Users
11.7.1. Energy & Power
11.7.2. Automotive
11.7.3. Metals & Heavy Machinery
11.7.4. Food & Beverage
11.7.5. Healthcare & Pharmaceutical
11.7.6. Mining
11.7.7. Semiconductors & Electronics
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Artificial Intelligence in Manufacturing Demand Share Forecast, 2019-2026
12. Middle East & Africa Artificial Intelligence in Manufacturing Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Artificial Intelligence in Manufacturing Market Size and Volume Forecast by Applications
12.4.1. Predictive Maintenance
12.4.2. Quality Control
12.4.3. Cybersecurity
12.4.4. Machinery Inspection
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Artificial Intelligence in Manufacturing Market Size and Volume Forecast by End Users
12.7.1. Energy & Power
12.7.2. Automotive
12.7.3. Metals & Heavy Machinery
12.7.4. Food & Beverage
12.7.5. Healthcare & Pharmaceutical
12.7.6. Mining
12.7.7. Semiconductors & Electronics
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Artificial Intelligence in Manufacturing Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Artificial Intelligence in Manufacturing Market: Market Share Analysis
13.2. Artificial Intelligence in Manufacturing Distributors and Customers
13.3. Artificial Intelligence in Manufacturing Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. AIBrain Inc.
13.4.2. Amazon Web Services, Inc.
13.4.3. General Electric
13.4.4. Intel Corporation
13.4.5. Microsoft
13.4.6. Mitsubishi Electric Corporation
13.4.7. NVIDIA Corporation
13.4.8. Rockwell Automation
13.4.9. SAP SE
13.4.10. Siemens
13.4.11. Vicarious
Methodology
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