The Artificial Intelligence (AI) In Industrial Machinery Global Market Report 2023, provides comprehensive information on the artificial intelligence (AI) in industrial machinery market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Artificial Intelligence (AI) In Industrial Machinery Market’s Growth:
As per The Business Research Company’s Artificial Intelligence (AI) In Industrial Machinery Global Market Report 2023, the global artificial intelligence (AI) in industrial machinery market is expected to grow from $1.15 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 31.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence (AI) in industrial machinery market is expected to reach $4.28 billion in 2027 at a CAGR of 29.6%.
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Product Innovation is the key trend gaining popularity in the AI in industrial machinery market. Major companies operating in the AI in industrial machinery market are focused on developing innovative products to strengthen their position in the market. For instance, in November 2022, Advantech Co. Ltd., a Taiwan-based machine automation, Internet of things (IoT) intelligent systems, and embedded computing company, in partnership with Actility, a France-based advanced IoT connectivity solutions company, launched a unique and innovative integrated AI-based solution for the rotating machine. The new solution is built using the high-performance WISE-6610 LoRaWAN gateway, the Advantech WISE-2410 vibration sensor, the sophisticated Advantech iMachine or prognostics and health management (PHM) application, and Actility’s ThingPark Enterprise IoT network administration platform. It assists the machine operation group in the implementation of machine predictions and health monitoring. It allows users to monitor the state of several machines in one place owing to the real-time machine health index, which includes ISO 10816 and deterioration levels.
The artificial intelligence (AI) in industrial machinery market is segmented:
1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, Computer Vision, Context Awareness, Natural Language Processing
3) By Application: Predictive Maintenance, Quality Control, Process Optimization, Supply Chain Optimization, Intelligent Robotics, Autonomous Vehicles And Guided Systems, Energy Management, Human-Machine Interfaces, Other Applications
4) By End-Use: Commercial, Agriculture, Construction, Packaging, Food Processing, Mining, Semiconductor Manufacturing
North America was the largest region in the artificial intelligence (AI) in industrial machinery market in 2022.
The table of contents in TBRC’s artificial intelligence (AI) in industrial machinery market report includes:
1. Executive Summary
2. Artificial Intelligence (AI) In Industrial Machinery Market Characteristics
3. Artificial Intelligence (AI) In Industrial Machinery Market Trends And Strategies
4. Artificial Intelligence (AI) In Industrial Machinery Market – Macro Economic Scenario
5. Global Artificial Intelligence (AI) In Industrial Machinery Market Size and Growth
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26. South America Artificial Intelligence (AI) In Industrial Machinery Market
27. Brazil Artificial Intelligence (AI) In Industrial Machinery Market
28. Middle East Artificial Intelligence (AI) In Industrial Machinery Market
29. Africa Artificial Intelligence (AI) In Industrial Machinery Market
30. Artificial Intelligence (AI) In Industrial Machinery Market Competitive Landscape And Company Profiles
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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