Artificial Intelligence in Manufacturing Market Size Worth $88.35 Billion By 2032 | CAGR: 41.50%

The global artificial intelligence in manufacturing market size is expected to reach USD 88.35 billion by 2032, according to a new study by Polaris Market Research. The report “Artificial Intelligence in Manufacturing Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, Services); By Technology; By Application; By End Use Industry; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

AI plays a crucial role in training and upskilling the workforce of manufacturing industries, ensuring that they possess the necessary skills to keep up with the advancements in the field. Additionally, AI assists in automating compliance checks and reporting, helping manufacturers meet the increasingly strict regulatory requirements. The integration of AI in smart factories is leading to self-optimizing production processes, where machines can autonomously adapt to changing conditions and communicate effectively.

Furthermore, AI enables collaborative robots to be more adaptable and user-friendly, expanding their utility in manufacturing environments. It optimizes energy consumption and minimizes waste, contributing to more sustainable and eco-friendly manufacturing practices. AI-driven design and prototyping tools expedite product development and innovation. It also holds the potential to streamline inventory levels, reduce storage expenses, and ensure just-in-time supply chain operations.

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Manufacturers are actively seeking ways to increase production efficiency, reduce costs, and improve product quality. AI helps achieve these goals through process automation and optimization. Consumers are looking for technologically advanced and sophisticated products, which has prompted manufacturers to incorporate AI-driven features and innovations.

The automotive industry has seen an increase in the use of AI in recent years. Strict regulations on emissions and fuel efficiency require automakers to invest in AI-driven innovations, such as electric and hybrid technologies. AI also facilitates the development of autonomous vehicles, which can revolutionize road safety and transform the entire transportation landscape. To stay competitive in the automotive industry, companies must harness the potential of AI to innovate and offer unique products to the market. The growing amount of data generated by vehicles is a valuable resource, and AI is essential for analyzing and transforming it into insights that can enhance vehicle performance and user experiences.

Artificial Intelligence in Manufacturing Market Report Highlights

• The software segment held a significant share in 2022, owing to its versatility and adaptability across various applications
• The machine learning segment held a significant share in 2022, owing to its advanced algorithms utilized to analyze data, derive insights, and adapt solutions
• The predictive maintenance and machinery inspection segment accounted for the largest market share in 2022, which is mainly driven by its ease of reducing downtime, extending the lifespan of equipment, reducing maintenance costs
• The automotive segment held the maximum market revenue share in 2022, mainly due to an increase in demand for artificial intelligence for welding, painting, and assembly of vehicles
• Asia-Pacific region dominated the market with a majority share in 2022, owing to greater expansion of the manufacturing industry, and the increased need to optimize production workflows, enhance supply chain management, and elevate product quality
• The global key market players include Fanuc Corporation, Microsoft Corporation, NVIDIA Corporation, Oracle Corporation, Robert Bosch GmbH, and Siemens AG among others

Polaris Market Research has segmented the Artificial Intelligence in Manufacturing market report based on offering, technology, application, end use industry, and region:

Artificial Intelligence in Manufacturing, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Hardware
• Software
• Services

Artificial Intelligence in Manufacturing, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Natural Language Processing
• Machine Learning
• Context Awareness
• Computer Vision

Artificial Intelligence in Manufacturing, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Production Planning
• Process Control
• Quality Control
• Logistics and Inventory Management
• Predictive Maintenance and Machinery Inspection
• Others

Artificial Intelligence in Manufacturing, End Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)

• Healthcare and Pharmaceutical
• Food and Beverages
• Automotive
• Electrical and Electronics
• Energy and Power
• Heavy Metal and Machine Manufacturing
• Others

Artificial Intelligence in Manufacturing, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Artificial Intelligence in Manufacturing Market Report Scope