Industrial Artificial Intelligence Market Outlook 2024-2033: Trends and Projections
Industrial Artificial Intelligence Market Expansion 2024-2033: Growth Drivers and Dynamics
Global Industrial Artificial Intelligence Market Analysis 2024: Size Forecast and Growth Prospects
Industrial Artificial Intelligence Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
Global Industrial Artificial Intelligence Market Overview 2024: Size, Growth Rate, and Segments
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The industrial artificial intelligence global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Artificial Intelligence Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial artificial intelligence market size has grown exponentially in recent years. It will grow from $4.01 billion in 2023 to $6.08 billion in 2024 at a compound annual growth rate (CAGR) of 51.5%. The growth in the historic period can be attributed to automation in manufacturing, quality control enhancement, energy management, data analytics for decision-making, smart grids, cybersecurity solutions..
The industrial artificial intelligence market size is expected to see exponential growth in the next few years. It will grow to $31.55 billion in 2028 at a compound annual growth rate (CAGR) of 51.0%. The growth in the forecast period can be attributed to exponential growth of big data, autonomous vehicles in logistics, regulatory support, emergence of quantum computing, customization and personalization needs.. Major trends in the forecast period include ai-driven quality control and inspection, digital twins for simulation and monitoring, ai-enhanced robotics and automation, ai for energy management and sustainability, cybersecurity with ai-powered threat detection..
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Scope Of Industrial Artificial Intelligence Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Artificial Intelligence Market Overview
Market Drivers –
The increasing adoption of automation technologies is expected to propel the growth of the industrial artificial intelligence market going forward. Automation technologies refer to a broad range of tools, systems, and technologies designed to perform tasks or processes with minimal human intervention. Industrial artificial intelligence is used as automation technologies help to streamline operations, reduce errors, enhance productivity, lower operational costs, and enable organizations to allocate human resources to higher-value tasks, ultimately driving efficiency, competitiveness, and innovation. For instance, in May 2022, according to the International Business Machines Corporation (IBM), a US-based technology company, 35% of businesses worldwide used artificial intelligence (AI) automation technologies, an increase of 4% from 2021. Therefore, the increasing adoption of automation technologies will drive the growth of the industrial artificial intelligence market.
Market Trends –
Major companies operating in the industrial artificial intelligence market focus on developing innovative technologies, such as generative AI platforms, to provide reliable customer service. Generative AI describes deep-learning algorithms that can produce excellent writing, graphics, and other content based on the data they were trained on. For instance, in March 2023, SparkCognition, a US-based provider of AI solutions, launched the Generative AI Platform for the industrial sector. It is uniquely designed to generate high-quality content through fabricated text, photos, audio, and other signals to enrich data sets autonomously. With the aid of this next-generation capacity, businesses may use AI even in situations with small data sets, improving and speeding up results. The SC Generative AI Platform enhances low-fidelity data to deliver high-fidelity insights. It extrapolates low-resolution images to high-resolution views to enable a more comprehensive perspective of asset performance or an entire end-to-end process.
The industrial artificial intelligence market covered in this report is segmented –
1) By Offering: Hardware, Software, Platform, Solution
2) By Technology: Computer Vision, Deep Learning, Natural Language Processing (NLP), Context Awareness
3) By Deployment Type: On-Premises, Cloud Based, Hybrid Based
4) By Company Size: Small Medium Enterprises, Larger Enterprises
5) By Industry Vertical: Manufacturing, Automotive, Energy, Healthcare, Agriculture, Transportation And Logistics
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Regional Insights –
North America was the largest region in the industrial artificial intelligence market in 2023. The regions covered in the industrial artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the industrial artificial intelligence market report are Alphabet Inc., Microsoft Corporation, Mitsubishi Electric Corporation, Alibaba Group Holding Limited, Robert Bosch GmbH, Huawei Technologies Co. Ltd., Siemens AG, General Electric Company, Intel Corporation, Accenture plc, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, SAP SE, ABB Ltd., NVIDIA Corporation, Salesforce.com Inc., Toshiba Corporation, Gerdau S.A., Rockwell Automation Inc., Fanuc Corporation, Yaskawa Electric Corporation, General Vision Inc., Neoris Holdings LLC, TOTVS S.A., Stefanini Inc., Sight Machine Inc., Aibrain Inc., Datarpm Inc., Softtek Servicios Corporativos S.A. de C.V.
Table of Contents
1. Executive Summary
2. Industrial Artificial Intelligence Market Report Structure
3. Industrial Artificial Intelligence Market Trends And Strategies
4. Industrial Artificial Intelligence Market – Macro Economic Scenario
5. Industrial Artificial Intelligence Market Size And Growth
…..
27. Industrial Artificial Intelligence Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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