Product Code: GVR-4-68040-190-6
Artificial Intelligence in Manufacturing Market Growth & Trends:
The global artificial intelligence in manufacturing market size is anticipated to reach USD 47.88 billion by 2030 and is anticipated to expand at a CAGR of 44.2% during the forecast period, according to a new report by Grand View Research, Inc. The substantial driver propelling the growth of the market is the escalating demand to manage progressively larger and intricate datasets, coupled with the emergence of industrial IoT and automation technology. The market's expansion is primarily attributed to the widespread utilization of big data, machine learning models, industrial robots, and the progression of the Internet of Things (IoT). Additionally, key macro drivers such as prioritizing value creation and delivering enhanced customer experiences contribute significantly to the notable growth observed in the artificial intelligence in manufacturing market.
Innovations in computer vision technology empowered manufacturers to apply AI-based quality control methods. With machine learning algorithms trained on vast datasets, it became possible to perform real-time inspections and identify flaws during production. AI-powered systems were proficient in accurately spotting variations or faults in products, ensuring elevated quality standards, and decreasing the chances of faulty goods reaching consumers. This shift in quality control not only boosted product dependability but also aided in minimizing waste and enhancing customer satisfaction.
The European market anticipates a consistent and rapid surge in revenue growth throughout the projected period, primarily propelled by increased governmental endeavors to implement smart factory initiatives across Europe. The European Union (EU) has formulated an AI strategy with the objective of positioning the EU as a frontrunner in AI innovation while ensuring the development and utilization of machine learning aligns with human-centric values and is deemed reliable. To bolster proficiency in AI, there's a concerted effort between the commission and member states to collaborate on policies and investments. The Commission's ambitious plan involves an annual allocation of 20 billion euros for the next decade towards AI, aiming to draw additional investments from both private sectors and EU member states. These measures are poised to bolster and sustain market revenue growth within the region.
Artificial Intelligence in Manufacturing Market Report Highlights:
- The hardware segment dominated the component segment with 42.13% share in 2023 owing to the increasing demand for specialized chips.
- The production planning segment held the largest market share in 2023. AI-powered production planning systems were transforming demand prediction by incorporating sophisticated predictive analytics.
- The medical device segment held the largest market in 2023 in end use segment. Owing to its technology, encompassing quality control, yield optimization, and predictive maintenance, among other functionalities.
- North America's market's revenue growth is propelled by the presence of large companies producing high-performance hardware components essential for running advanced machine learning models.
- In January 2023, Intel Corporation launched the 4th Generation Xeon Scalable Processors along with the Max Series CPUs and GPUs, representing Intel's highly sustainable data center processors. These processors offer a variety of capabilities to enhance power efficiency and performance while maximizing CPU resources, aligning with customers' sustainability objectives.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Artificial Intelligence (AI) in Manufacturing Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Industry Value Chain Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Drivers Analysis
- 3.4.2. Market Restraints Analysis
- 3.4.3. Industry Opportunities
- 3.4.4. Industry Challenges
- 3.5. Artificial Intelligence (AI) in manufacturing Market Analysis Tools
- 3.5.1. Porter's Analysis
- 3.5.1.1. Bargaining power of the suppliers
- 3.5.1.2. Bargaining power of the buyers
- 3.5.1.3. Threats of substitution
- 3.5.1.4. Threats from new entrants
- 3.5.1.5. Competitive rivalry
- 3.5.2. PESTEL Analysis
- 3.5.2.1. Political landscape
- 3.5.2.2. Economic and Social landscape
- 3.5.2.3. Technological landscape
- 3.5.2.4. Environmental landscape
- 3.5.2.5. Legal landscape
Chapter 4. Artificial Intelligence (AI) in manufacturing Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Artificial Intelligence (AI) in manufacturing Market: Component Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Hardware
- 4.3.1. Hardware Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4. Software
- 4.4.1. Software Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.5. Services
- 4.5.1. Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 5. Artificial Intelligence (AI) in manufacturing Market: Technology Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Artificial Intelligence (AI) in manufacturing Market: Technology Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. Machine Learning
- 5.3.1. Machine Learning Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.4. Computer Vision
- 5.5. Computer Vision Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.6. Context Awareness
- 5.6.1. Context Awareness Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.7. Natural Language Processing
- 5.7.1. Natural Language Processing Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Artificial Intelligence (AI) in manufacturing Market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Artificial Intelligence (AI) in manufacturing Market: Application Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Material Movement
- 6.3.1. Material Movement Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.4. Predictive Maintenance & Machinery Inspection
- 6.4.1. Predictive Maintenance & Machinery Inspection Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.5. Production Planning
- 6.5.1. Production Planning Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.6. Field Services
- 6.6.1. Field Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.7. Quality Control & Reclamation
- 6.7.1. Quality Control & Reclamation Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.8. Others
- 6.8.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 7. Artificial Intelligence (AI) in manufacturing Market: End-Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Artificial Intelligence (AI) in manufacturing Market: End-Use Movement Analysis, 2023 & 2030 (USD Million)
- 7.3. Semiconductor & Electronics
- 7.3.1. Semiconductor & Electronics Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4. Energy & Power
- 7.4.1. Energy & Power Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5. Medical devices
- 7.5.1. Medical devices Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6. Automobile
- 7.6.1. Automobile Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.7. Heavy Metal & Machine Manufacturing
- 7.7.1. Heavy Metal & Machine Manufacturing Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.8. Others
- 7.8.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 8. Artificial Intelligence (AI) in Manufacturing Market: Regional Estimates & Trend Analysis
- 8.1. Artificial Intelligence (AI) in Manufacturing Market Share, By Region, 2023 & 2030, USD Million
- 8.2. North America
- 8.2.1. North America Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.2.2. U.S.
- 8.2.2.1. U.S. Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.2.3. Canada
- 8.2.3.1. Canada Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.3. Europe
- 8.3.1. Europe Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.3.2. U.K.
- 8.3.2.1. U.K. Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.3.3. Germany
- 8.3.3.1. Germany Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.3.4. France
- 8.3.4.1. France Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4.2. China
- 8.4.2.1. China Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4.3. Japan
- 8.4.3.1. Japan Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4.4. India
- 8.4.4.1. India Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4.5. South Korea
- 8.4.5.1. South Korea Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4.6. Australia
- 8.4.6.1. Australia Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.5. Latin America
- 8.5.1. Latin America Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.5.2. Brazil
- 8.5.2.1. Brazil Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.5.3. Mexico
- 8.5.3.1. Mexico Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.6. Middle East and Africa
- 8.6.1. Middle East and Africa Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.6.2. Saudi Arabia
- 8.6.2.1. Saudi Arabia Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.6.3. UAE
- 8.6.3.1. UAE Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.6.4. South Africa
- 8.6.4.1. South Africa Artificial Intelligence (AI) in Manufacturing Market Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis by Key Market Participants
- 9.2. Company Categorization
- 9.3. Company Market Positioning
- 9.4. Company Market Share Analysis
- 9.5. Company Heat Map Analysis
- 9.6. Strategy Mapping
- 9.6.1. Expansion
- 9.6.2. Mergers & Acquisition
- 9.6.3. Partnerships & Collaborations
- 9.6.4. New Product Launches
- 9.6.5. Research And Development
- 9.7. Company Profiles
- 9.7.1. AIBrain Inc.
- 9.7.1.1. Participant's Overview
- 9.7.1.2. Financial Performance
- 9.7.1.3. Product Benchmarking
- 9.7.1.4. Recent Developments
- 9.7.2. Amazon Web Services
- 9.7.2.1. Participant's Overview
- 9.7.2.2. Financial Performance
- 9.7.2.3. Product Benchmarking
- 9.7.2.4. Recent Developments
- 9.7.3. Aquant Inc.
- 9.7.3.1. Participant's Overview
- 9.7.3.2. Financial Performance
- 9.7.3.3. Product Benchmarking
- 9.7.3.4. Recent Developments
- 9.7.4. Cisco Systems Inc
- 9.7.4.1. Participant's Overview
- 9.7.4.2. Financial Performance
- 9.7.4.3. Product Benchmarking
- 9.7.4.4. Recent Developments
- 9.7.5. General Electric Company
- 9.7.5.1. Participant's Overview
- 9.7.5.2. Financial Performance
- 9.7.5.3. Product Benchmarking
- 9.7.5.4. Recent Developments
- 9.7.6. General Vision Inc.
- 9.7.6.1. Participant's Overview
- 9.7.6.2. Financial Performance
- 9.7.6.3. Product Benchmarking
- 9.7.6.4. Recent Developments
- 9.7.7. Google LLC (Alphabet Inc.)
- 9.7.7.1. Participant's Overview
- 9.7.7.2. Financial Performance
- 9.7.7.3. Product Benchmarking
- 9.7.7.4. Recent Developments
- 9.7.8. IBM Corporation
- 9.7.8.1. Participant's Overview
- 9.7.8.2. Financial Performance
- 9.7.8.3. Product Benchmarking
- 9.7.8.4. Recent Developments
- 9.7.9. Intel Corporation
- 9.7.9.1. Participant's Overview
- 9.7.9.2. Financial Performance
- 9.7.9.3. Product Benchmarking
- 9.7.9.4. Recent Developments
- 9.7.10. Micron Technology Inc.
- 9.7.10.1. Participant's Overview
- 9.7.10.2. Financial Performance
- 9.7.10.3. Product Benchmarking
- 9.7.10.4. Recent Developments
- 9.7.11. Microsoft Corporation
- 9.7.11.1. Participant's Overview
- 9.7.11.2. Financial Performance
- 9.7.11.3. Product Benchmarking
- 9.7.11.4. Recent Developments
- 9.7.12. Mitsubishi Electric Corporation
- 9.7.12.1. Participant's Overview
- 9.7.12.2. Financial Performance
- 9.7.12.3. Product Benchmarking
- 9.7.12.4. Recent Developments
- 9.7.13. NVIDIA Corporation
- 9.7.13.1. Participant's Overview
- 9.7.13.2. Financial Performance
- 9.7.13.3. Product Benchmarking
- 9.7.13.4. Recent Developments
- 9.7.14. Intel Corporation
- 9.7.14.1. Participant's Overview
- 9.7.14.2. Financial Performance
- 9.7.14.3. Product Benchmarking
- 9.7.14.4. Recent Developments
- 9.7.15. Oracle Corporation
- 9.7.15.1. Participant's Overview
- 9.7.15.2. Financial Performance
- 9.7.15.3. Product Benchmarking
- 9.7.15.4. Recent Developments
- 9.7.16. Rethink Robotics
- 9.7.16.1. Participant's Overview
- 9.7.16.2. Financial Performance
- 9.7.16.3. Product Benchmarking
- 9.7.16.4. Recent Developments
- 9.7.17. Rockwell Automation Inc
- 9.7.17.1. Participant's Overview
- 9.7.17.2. Financial Performance
- 9.7.17.3. Product Benchmarking
- 9.7.17.4. Recent Developments
- 9.7.18. SAP SE
- 9.7.18.1. Participant's Overview
- 9.7.18.2. Financial Performance
- 9.7.18.3. Product Benchmarking
- 9.7.18.4. Recent Developments
- 9.7.19. Siemens AG.
- 9.7.19.1. Participant's Overview
- 9.7.19.2. Financial Performance
- 9.7.19.3. Product Benchmarking
- 9.7.19.4. Recent Developments
- 9.7.20. Sight Machine
- 9.7.20.1. Participant's Overview
- 9.7.20.2. Financial Performance
- 9.7.20.3. Product Benchmarking
- 9.7.20.4. Recent Developments
- 9.7.21. Spark Cognition Inc.
- 9.7.21.1. Participant's Overview
- 9.7.21.2. Financial Performance
- 9.7.21.3. Product Benchmarking
- 9.7.21.4. Recent Developments