AI in Manufacturing Market Size, Share, Forecast, & Trends Analysis by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Cybersecurity, Supply Chain Optimization), End-use Industry, and Geography

AI in Manufacturing Market Size, Share, Forecast, & Trends Analysis by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Cybersecurity, Supply Chain Optimization), End-use Industry, and Geography - Global Forecast to 2031

AI in Manufacturing Market - Report Summary

Report Metrics	Details
Years Considered	2022 - 2031
Base Year	2023
Forecast Period	2024-2031
Page Count	326
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Component, Technology, Application, and End-use Industry
Regions Covered	North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa
Key Companies Mentioned	Google LLC (A Subsidiary of Alphabet Inc.) (U.S.), International Business Machines Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Oracle Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.) (U.S.), Siemens AG (Germany), General Electric Company (U.S.), SAP SE (Germany), Advanced Micro Devices, Inc. (U.S.), Robert Bosch GmbH (Germany), and Sight Machine Inc. (U.S.).

FAQs About the Report

What is the revenue generated from AI in manufacturing across the globe? At what rate is the demand expected to grow in the next 5-7 years?

The AI in manufacturing market is projected to reach $84.5 billion by 2031, at a CAGR of 32.6% during the forecast period.

Which component segment showcases high growth opportunities for market players?

In 2024, the hardware segment is expected to account for the largest share of the AI in manufacturing market. The segment’s growth is driven by the growing adoption of AI hardware in the manufacturing sector, increasing R&D expenditure to develop AI hardware, leading key player’s initiatives, and rising regulatory compliance with good manufacturing practices.

What are the key factors driving the growth of the AI in manufacturing market? What are the major opportunities for existing market players and new entrants?

The growth of the AI in manufacturing market is driven by the rising adoption of Industry 4.0 technologies & smart manufacturing, the growing need for predictive maintenance & quality control, and the increasing demand for automation & operational efficiency. However, the shortage of skilled professionals restrains the growth of this market.

Furthermore, the growing scale of manufacturing operations in emerging economies and the increasing adoption of AI in supply chain management & logistics are expected to generate growth opportunities for the players operating in this market. However, data security & privacy concerns are a major challenge impacting market growth.

Who are the major players operating in the global AI in manufacturing market?

The key players operating in the AI in manufacturing market are Google LLC (A Subsidiary of Alphabet Inc.) (U.S.), International Business Machines Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Oracle Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.) (U.S.), Siemens AG (Germany), General Electric Company (U.S.), SAP SE (Germany), Advanced Micro Devices, Inc. (U.S.), Robert Bosch GmbH (Germany), and Sight Machine Inc. (U.S.).The research report titled, ‘AI in Manufacturing Market by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Cybersecurity, Supply Chain Optimization), End-use Industry, and Geography —Global Forecast to 2031.’ provides an in-depth analysis of the AI in manufacturing market in five major geographies and emphasizes on the current market trends, size, and share, recent developments, and forecasts till 2031. The AI in manufacturing market is projected to reach $84.5 billion by 2031, at a CAGR of 32.6% from 2024 to 2031.

Artificial Intelligence (AI) in manufacturing refers to the application of AI technologies and techniques to improve various aspects of manufacturing processes. These applications can range from optimizing production schedules to predictive maintenance and quality control. With the advent of Industry 4.0, the manufacturing industry has made significant progress in regard to the adoption of advanced technologies for manufacturing operations and processes. Manufacturing industries are implementing AI-powered intelligent solutions & services to enhance the automation and operational efficiency of organizations. Thus, there is considerable growth in the demand for the adoption of AI in the manufacturing industry for intelligent manufacturing processes that offer decentralized decision-making, optimize logistics & supply chains, enhance production outcomes, advance process effectiveness, and minimize operational costs, enabling an intelligent manufacturing environment.

The growth of the AI in manufacturing market is driven by the rising adoption of Industry 4.0 and smart manufacturing, the growing need for predictive maintenance and quality control, and the increasing demand for automation and operational efficiency. However, a shortage of skilled workforce restrains the growth of this market. Furthermore, the rising number of manufacturing operations in emerging economies and the increasing adoption of AI in supply chain management and logistics are expected to generate growth opportunities for the stakeholders in this market. However, data security and privacy concerns are a major challenge impacting the growth of the AI in manufacturing market. Additionally, the prominent trend in this market is the rising adoption of computer vision & robotics in manufacturing.

The AI in manufacturing market is segmented based on component (hardware [processors, networking, memory], software [AI platforms, AI solutions], and services [deployment & integration, support & maintenance), technology (machine learning (ML), natural language processing (NLP), context-aware computing, computer vision, speech and voice recognition), application (field services, quality management, cybersecurity, robotics & factory automation, predictive maintenance & machinery inspection, material handling, production planning, safety planning, energy management, supply chain optimization), end-use industry (semiconductor & electronics, energy & power, pharmaceuticals, medical devices, automotive, heavy metals & machine manufacturing, fast-moving consumer goods, aerospace and defense, other industries). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on component, the AI in manufacturing market is segmented into hardware, software, and services segment. The services segment is projected to record the highest CAGR during the forecast period. The growing adoption of smart manufacturing services, growing AI expertise, and growing skilled labor shortage are the major factors promoting the growth of this segment.

Based on technology, the AI in manufacturing market is segmented into machine learning (ML), natural language processing (NLP), context-aware computing, computer vision, speech and voice recognition, and machine reasoning. The natural language processing segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing demand for NLP technology for analyzing machinery data to predict and prevent failures, automate inspection report analysis, ensure adherence to safety protocols through real-time analysis, enable personalization based on customer feedback analysis, and optimize manufacturing processes by evaluating production data.

Based on application, the AI in manufacturing market is segmented into field services, quality management, cybersecurity, robotics & factory automation, predictive maintenance & machinery inspection, material handling, production planning, safety planning, energy management, and supply chain optimization. The predictive maintenance & machinery inspection segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing demand for self-monitoring, the increasing need to reduce costs related to operating heavy equipment and maintenance costs and downtime, and the increasing demand for real-time plant monitoring in manufacturing industries.

Based on end-use industry, the AI in manufacturing market is segmented into semiconductor & electronics, energy & power, pharmaceuticals, medical devices, automotive, heavy metals & machine manufacturing, fast-moving consumer goods, aerospace and defense, and other end-use industries. The medical devices segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing demand for advanced healthcare technologies, regulatory compliance requirements, and the need for improved efficiency and quality in medical device manufacturing processes.

Based on geography, the AI in manufacturing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising demand for automation, the increasing adoption of industrial robots, the advent of Industry 4.0, increasing investments by technology leaders, the growing adoption of cloud-based manufacturing solutions, and the presence of prominent market players in the region.

The key players profiled in the AI in manufacturing market study include Google LLC (A Subsidiary of Alphabet Inc.) (U.S.), International Business Machines Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Oracle Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.) (U.S.), Siemens AG (Germany), General Electric Company (U.S.), SAP SE (Germany), Advanced Micro Devices, Inc. (U.S.), Robert Bosch GmbH (Germany), and Sight Machine Inc. (U.S.).

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of component, technology, application, end-use industry, and geography?
What is the historical market size for AI in manufacturing market across the globe?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the AI in manufacturing market?
Who are the major players in the market, and what are their market shares?
What is the competitive landscape like for AI in manufacturing market?
What are the recent developments in the AI in manufacturing market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the AI in manufacturing market, and how do they compete with other players?

Scope of the report:

AI in Manufacturing Market Assessment —by Component

Hardware
Processors
Networking
Memory
Software
AI Platforms
AI Solutions
Services
Deployment & Integration
Support & Maintenance

AI in Manufacturing Market—by Technology

Machine Learning (ML)
Natural Language Processing (NLP)
Context-Aware Computing
Computer Vision
Speech and Voice Recognition

AI in Manufacturing Market—by Application

Field Services
Quality Management
Cybersecurity
Robotics & Factory Automation
Predictive Maintenance & Machinery Inspection
Material Handling
Production Planning
Safety Planning
Energy management
Supply Chain Optimization

AI in Manufacturing Market—by End-use Industry

Semiconductor & Electronics
Energy & Power
Pharmaceuticals
Medical Devices
Automotive
Heavy Metals & Machine Manufacturing
Fast-moving Consumer Goods
Aerospace and Defense
Other Industries

AI in Manufacturing Market—by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Netherlands
Russia
Ireland
Turkey
Rest of Europe
Asia-Pacific
Japan
China
India
South Korea
Australia & New Zealand
Thailand
Indonesia
Taiwan
Vietnam
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
UAE
Israel
Rest of Middle East & Africa