Industrial Artificial Intelligence Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Offering ; By Technology ; By Application ; By Industry ; By Region

Description

Global Industrial Artificial Intelligence (AI) Market Size Zooming to Reach Whopping USD 58.3 Billion by 2029.

Global industrial artificial intelligence (AI) market is gaining traction because of the extensive use of robotics in manufacturing, use of computer vision technology in manufacturing, and significant increase in venture capital investments.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global industrial artificial intelligence (AI) market size at USD 3.1 billion in 2022. During the forecast period between 2023 and 2029, the global industrial artificial intelligence (AI) market size is projected to grow at a robust CAGR of 52.46% reaching a value of USD 58.3 billion by 2029. The increasing adoption of innovative technologies in a variety of industry verticals, such as automotive, healthcare, retail, finance, and manufacturing, as well as ongoing research and innovations led by digital giants, are major growth factors for the global industrial AI market. The requirement for intelligent systems to promote production and efficiency is another factor driving the growth of the global AI market.

Global Industrial Artificial Intelligence (AI) Market - Overview:

Industrial Artificial Intelligence (AI) is a new paradigm that applies data science, AI algorithms, software, and domain knowledge to produce quantifiable economic results for the unique requirements of capital-intensive businesses. By eliminating adoption barriers, industrial companies have new chances to dramatically cut costs, boost efficiency, and improve their operations. Industrial AI disrupts various sectors. With four enabling technologies-data technology, analytic technology, platform technology, and operations technology-industrial AI may achieve intelligent and robust industrial systems.

Impact of COVID-19 on Global Industrial Artificial Intelligence (AI) Market

The COVID-19 pandemic offered lucrative growth opportunities to the global Industrial Artificial Intelligence (AI) market. Industrial AI gained significant popularity in the healthcare industry. AI is being utilized to assist reduce timelines and save costs in the years-long and expensive drug discovery process. Repurposing already-approved medications and discovering new applications for them is a creative method for finding cures for illnesses swiftly and safely. AI can swiftly identify unusual symptoms and other "red flags," alarming both patients and healthcare authorities. Faster, it facilitates more economical decision-making. Via practical methods, it aids in the development of a novel diagnosis and management approach for COVID-19 patients.

Global Industrial Artificial Intelligence (AI) Market - By Industry:

Based on industry, the global industrial artificial intelligence (AI) market is segmented into energy & power, pharmaceuticals, heavy metals & machine manufacturing, semiconductor & electronics, food & beverages, and others. The healthcare segment accounts for the highest market share. Through extensive data analysis, AI enables healthcare providers to better understand the trends and demands of their patients. Doctors and nurses will be in a better position to offer direction, support, and feedback as technology advances and new medical uses are found. The expanding investment in healthcare development, especially in the developing economies, is offering lucrative growth opportunities to the global industrial artificial intelligence (AI) market.

Competitive Landscape:

Major players operating in the global industrial artificial intelligence (AI) market include: Siemens AG, Intel Corporation, Nvidia Corporation, Alphabet Inc., IBM Corporation, Microsoft Corporation, General Electric (GE) Company, Datarpm, Sight Machine, General Vision Inc., Aibrain, Rockwell Automation Inc., Cisco Systems, Inc., Mitsubishi Electric Corporation, Oracle Corporation, and SAP SE. These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Industrial Artificial Intelligence (AI) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Industrial Artificial Intelligence (AI) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23202

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Industrial Artificial Intelligence (AI) Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Extensive Use of Robotics in Manufacturing
  - 3.2.1.2. Use of Computer Vision Technology in Manufacturing
  - 3.2.1.3. Significant Increase in Venture Capital Investments
- 3.2.2. Restraints
  - 3.2.2.1. Reluctance Among the Manufacturers to Adopts AI-Based Technologies
- 3.2.3. Opportunities
  - 3.2.3.1. Improving Operational Efficiency of Manufacturing Plants
- 3.2.4. Challenges
  - 3.2.4.1. Data Privacy Concern
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Industrial Artificial Intelligence (AI) Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
- 4.2.1. By Offering
  - 4.2.1.1. Hardware
  - 4.2.1.2. Software
  - 4.2.1.2.1. Platform
  - 4.2.1.2.2. Solution
- 4.2.2. By Technology
  - 4.2.2.1. Computer Vision
  - 4.2.2.2. Deep Learning
  - 4.2.2.3. Natural Language Processing (NLP)
  - 4.2.2.4. Context Awareness
- 4.2.3. By Application
  - 4.2.3.1. Predictive Maintenance and Machinery Inspection
  - 4.2.3.2. Material Movement
  - 4.2.3.3. Production Planning
  - 4.2.3.4. Field Services
  - 4.2.3.5. Quality Control
  - 4.2.3.6. Reclamation
- 4.2.4. By Industry
  - 4.2.4.1. Energy & Power
  - 4.2.4.2. Pharmaceuticals
  - 4.2.4.3. Heavy Metals & Machine Manufacturing
  - 4.2.4.4. Semiconductor & Electronics
  - 4.2.4.5. Food & Beverages
  - 4.2.4.6. Others
- 4.2.5. By Region
  - 4.2.5.1. North America
  - 4.2.5.2. Europe
  - 4.2.5.3. Asia Pacific (APAC)
  - 4.2.5.4. Latin America (LATAM)
  - 4.2.5.5. Middle East and Africa (MEA)

5. North America Industrial Artificial Intelligence (AI) Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Offering
- 5.2.2. By Technology
- 5.2.3. By Application
- 5.2.4. By Industry
- 5.2.5. By Country
  - 5.2.5.1. United States
  - 5.2.5.1.1. By Offering
  - 5.2.5.1.2. By Technology
  - 5.2.5.1.3. By Application
  - 5.2.5.1.4. By Industry
  - 5.2.5.2. Canada
  - 5.2.5.2.1. By Offering
  - 5.2.5.2.2. By Technology
  - 5.2.5.2.3. By Application
  - 5.2.5.2.4. By Industry

6. Europe Industrial Artificial Intelligence (AI) Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Offering
- 6.2.2. By Technology
- 6.2.3. By Application
- 6.2.4. By Industry
- 6.2.5. By Country
  - 6.2.5.1. Germany
  - 6.2.5.1.1. By Offering
  - 6.2.5.1.2. By Technology
  - 6.2.5.1.3. By Application
  - 6.2.5.1.4. By Industry
  - 6.2.5.2. United Kingdom
  - 6.2.5.2.1. By Offering
  - 6.2.5.2.2. By Technology
  - 6.2.5.2.3. By Application
  - 6.2.5.2.4. By Industry
  - 6.2.5.3. Italy
  - 6.2.5.3.1. By Offering
  - 6.2.5.3.2. By Technology
  - 6.2.5.3.3. By Application
  - 6.2.5.3.4. By Industry
  - 6.2.5.4. France
  - 6.2.5.4.1. By Offering
  - 6.2.5.4.2. By Technology
  - 6.2.5.4.3. By Application
  - 6.2.5.4.4. By Industry
  - 6.2.5.5. Spain
  - 6.2.5.5.1. By Offering
  - 6.2.5.5.2. By Technology
  - 6.2.5.5.3. By Application
  - 6.2.5.5.4. By Industry
  - 6.2.5.6. Belgium
  - 6.2.5.6.1. By Offering
  - 6.2.5.6.2. By Technology
  - 6.2.5.6.3. By Application
  - 6.2.5.6.4. By Industry
  - 6.2.5.7. Russia
  - 6.2.5.7.1. By Offering
  - 6.2.5.7.2. By Technology
  - 6.2.5.7.3. By Application
  - 6.2.5.7.4. By Industry
  - 6.2.5.8. The Netherlands
  - 6.2.5.8.1. By Offering
  - 6.2.5.8.2. By Technology
  - 6.2.5.8.3. By Application
  - 6.2.5.8.4. By Industry
  - 6.2.5.9. Rest of Europe
  - 6.2.5.9.1. By Offering
  - 6.2.5.9.2. By Technology
  - 6.2.5.9.3. By Application
  - 6.2.5.9.4. By Industry

7. Asia Pacific Industrial Artificial Intelligence (AI) Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Offering
- 7.2.2. By Technology
- 7.2.3. By Application
- 7.2.4. By Industry
- 7.2.5. By Country
  - 7.2.5.1. China
  - 7.2.5.1.1. By Offering
  - 7.2.5.1.2. By Technology
  - 7.2.5.1.3. By Application
  - 7.2.5.1.4. By Industry
  - 7.2.5.2. India
  - 7.2.5.2.1. By Offering
  - 7.2.5.2.2. By Technology
  - 7.2.5.2.3. By Application
  - 7.2.5.2.4. By Industry
  - 7.2.5.3. Japan
  - 7.2.5.3.1. By Offering
  - 7.2.5.3.2. By Technology
  - 7.2.5.3.3. By Application
  - 7.2.5.3.4. By Industry
  - 7.2.5.4. South Korea
  - 7.2.5.4.1. By Offering
  - 7.2.5.4.2. By Technology
  - 7.2.5.4.3. By Application
  - 7.2.5.4.4. By Industry
  - 7.2.5.5. Australia & New Zealand
  - 7.2.5.5.1. By Offering
  - 7.2.5.5.2. By Technology
  - 7.2.5.5.3. By Application
  - 7.2.5.5.4. By Industry
  - 7.2.5.6. Indonesia
  - 7.2.5.6.1. By Offering
  - 7.2.5.6.2. By Technology
  - 7.2.5.6.3. By Application
  - 7.2.5.6.4. By Industry
  - 7.2.5.7. Malaysia
  - 7.2.5.7.1. By Offering
  - 7.2.5.7.2. By Technology
  - 7.2.5.7.3. By Application
  - 7.2.5.7.4. By Industry
  - 7.2.5.8. Singapore
  - 7.2.5.8.1. By Offering
  - 7.2.5.8.2. By Technology
  - 7.2.5.8.3. By Application
  - 7.2.5.8.4. By Industry
  - 7.2.5.9. Vietnam
  - 7.2.5.9.1. By Offering
  - 7.2.5.9.2. By Technology
  - 7.2.5.9.3. By Application
  - 7.2.5.9.4. By Industry
  - 7.2.5.10. Rest of APAC
  - 7.2.5.10.1. By Offering
  - 7.2.5.10.2. By Technology
  - 7.2.5.10.3. By Application
  - 7.2.5.10.4. By Industry

8. Latin America Industrial Artificial Intelligence (AI) Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Offering
- 8.2.2. By Technology
- 8.2.3. By Application
- 8.2.4. By Industry
- 8.2.5. By Country
  - 8.2.5.1. Brazil
  - 8.2.5.1.1. By Offering
  - 8.2.5.1.2. By Technology
  - 8.2.5.1.3. By Application
  - 8.2.5.1.4. By Industry
  - 8.2.5.2. Mexico
  - 8.2.5.2.1. By Offering
  - 8.2.5.2.2. By Technology
  - 8.2.5.2.3. By Application
  - 8.2.5.2.4. By Industry
  - 8.2.5.3. Argentina
  - 8.2.5.3.1. By Offering
  - 8.2.5.3.2. By Technology
  - 8.2.5.3.3. By Application
  - 8.2.5.3.4. By Industry
  - 8.2.5.4. Peru
  - 8.2.5.4.1. By Offering
  - 8.2.5.4.2. By Technology
  - 8.2.5.4.3. By Application
  - 8.2.5.4.4. By Industry
  - 8.2.5.5. Rest of LATAM
  - 8.2.5.5.1. By Offering
  - 8.2.5.5.2. By Technology
  - 8.2.5.5.3. By Application
  - 8.2.5.5.4. By Industry

9. Middle East & Africa Industrial Artificial Intelligence (AI) Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Offering
- 9.2.2. By Technology
- 9.2.3. By Application
- 9.2.4. By Industry
- 9.2.5. By Country
  - 9.2.5.1. Saudi Arabia
  - 9.2.5.1.1. By Offering
  - 9.2.5.1.2. By Technology
  - 9.2.5.1.3. By Application
  - 9.2.5.1.4. By Industry
  - 9.2.5.2. UAE
  - 9.2.5.2.1. By Offering
  - 9.2.5.2.2. By Technology
  - 9.2.5.2.3. By Application
  - 9.2.5.2.4. By Industry
  - 9.2.5.3. Qatar
  - 9.2.5.3.1. By Offering
  - 9.2.5.3.2. By Technology
  - 9.2.5.3.3. By Application
  - 9.2.5.3.4. By Industry
  - 9.2.5.4. Kuwait
  - 9.2.5.4.1. By Offering
  - 9.2.5.4.2. By Technology
  - 9.2.5.4.3. By Application
  - 9.2.5.4.4. By Industry
  - 9.2.5.5. South Africa
  - 9.2.5.5.1. By Offering
  - 9.2.5.5.2. By Technology
  - 9.2.5.5.3. By Application
  - 9.2.5.5.4. By Industry
  - 9.2.5.6. Nigeria
  - 9.2.5.6.1. By Offering
  - 9.2.5.6.2. By Technology
  - 9.2.5.6.3. By Application
  - 9.2.5.6.4. By Industry
  - 9.2.5.7. Algeria
  - 9.2.5.7.1. By Offering
  - 9.2.5.7.2. By Technology
  - 9.2.5.7.3. By Application
  - 9.2.5.7.4. By Industry
  - 9.2.5.8. Rest of MEA
  - 9.2.5.8.1. By Offering
  - 9.2.5.8.2. By Technology
  - 9.2.5.8.3. By Application
  - 9.2.5.8.4. By Industry

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Industrial Artificial Intelligence (AI) Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Industrial Artificial Intelligence (AI) Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. Siemens AG
12.2. Intel Corporation
12.3. Nvidia Corporation
12.4. Alphabet Inc.
12.5. IBM Corporation
12.6. Microsoft Corporation
12.7. General Electric (GE) Company
12.8. Datarpm
12.9. Sight Machine
12.10. General Vision Inc.
12.11. Aibrain
12.12. Rockwell Automation Inc.
12.13. Cisco Systems, Inc.
12.14. Mitsubishi Electric Corporation
12.15. Oracle Corporation
12.16. SAP SE
12.17. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations