PUBLISHER: The Business Research Company | PRODUCT CODE: 1691919
PUBLISHER: The Business Research Company | PRODUCT CODE: 1691919
Industrial artificial intelligence (Industrial AI) is the application of artificial intelligence to industry, specifically addressing industrial pain points for customer value creation, productivity improvement, cost reduction, site optimization, predictive analysis, and insight discovery. It involves utilizing AI algorithms, data analytics, and automation to enhance manufacturing efficiency, quality control, predictive maintenance, and production processes.
The primary offerings in industrial artificial intelligence include hardware, software, platforms, and solutions. Hardware refers to the physical components of a computer or electronic device, encompassing the central processing unit (CPU), memory, storage drives, input/output devices, and any other tangible parts. The technologies involved in industrial AI comprise computer vision, deep learning, natural language processing (NLP), and context awareness, deployed through on-premises, cloud-based, and hybrid-based solutions. These technologies cater to various industries, including manufacturing, automotive, energy, healthcare, agriculture, and transportation and logistics.
The industrial artificial intelligence market research report is one of a series of new reports from The Business Research Company that provides industrial artificial intelligence market statistics, including industrial artificial intelligence industry global market size, regional shares, competitors with a industrial artificial intelligence market share, detailed industrial artificial intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the industrial artificial intelligence industry. This industrial artificial intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial artificial intelligence market size has grown exponentially in recent years. It will grow from $6.08 billion in 2024 to $9.12 billion in 2025 at a compound annual growth rate (CAGR) of 50.0%. 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 $48.22 billion in 2029 at a compound annual growth rate (CAGR) of 51.6%. 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.
The rising adoption of automation technologies is projected to drive growth in the industrial artificial intelligence (AI) market. Automation technologies encompass a wide range of tools and systems designed to carry out tasks with minimal human input. In industrial settings, AI enhances automation by streamlining operations, reducing errors, boosting productivity, lowering operational costs, and allowing organizations to shift human resources to more strategic roles. This ultimately leads to improved efficiency, competitiveness, and innovation. For example, in September 2023, the International Federation of Robotics (IFR), a Germany-based non-profit organization, reported that the supply of service robots for professional use reached 158,000 units in 2022, marking a 48% increase, while industrial robot installations globally reached 553,052, reflecting a 5% annual growth rate in 2022. Consequently, the growing adoption of automation technologies is expected to drive the industrial AI market forward.
The proliferation of IoT devices (Internet of Things) is set to act as a catalyst for the burgeoning expansion of the industrial artificial intelligence market. IoT devices comprise physical objects integrated with sensors, software, and other technologies to collect and exchange data over the internet with other devices and systems. Industrial artificial intelligence often complements IoT devices, enhancing their functionalities, optimizing efficiency, and facilitating intelligent decision-making within industrial and manufacturing settings. For instance, as reported by GSMA Intelligence in August 2022, the projected number of IoT connections is anticipated to soar to 23.3 billion by 2025, surging from 15.1 billion in 2021. This remarkable rise in IoT devices underscores their growing significance and acts as a primary driver fueling the growth of the industrial artificial intelligence market.
Prominent companies within the industrial artificial intelligence market are actively engaged in pioneering innovative technologies, such as generative AI platforms, to elevate customer service offerings. Generative AI platforms leverage deep-learning algorithms capable of generating high-quality content, including writing, graphics, and other media, based on the data they were trained on. For instance, in March 2023, SparkCognition, a renowned US-based provider of AI solutions, introduced the Generative AI Platform specifically tailored for the industrial sector. This innovative platform is adept at autonomously creating superior content through fabricated text, images, audio, and other signals to enrich datasets. The cutting-edge capabilities of this next-generation platform empower businesses to leverage AI even with limited data sets, enhancing and expediting results. The SC Generative AI Platform enhances low-fidelity data, delivering high-fidelity insights by extrapolating low-resolution images to high-resolution views, enabling a more comprehensive understanding of asset performance or entire end-to-end processes. This advancement signifies a transformative approach in utilizing AI to derive meaningful insights and optimize industrial operations.
In June 2023, Accenture plc, an Ireland-based information technology company, finalized the acquisition of Flutura Business Solutions Pvt. Ltd. for an undisclosed sum. This strategic acquisition is poised to bolster Accenture's industrial AI services, specifically targeting clients operating in diverse sectors such as energy, chemicals, metals, mining, and pharmaceuticals. Flutura Business Solutions Pvt. Ltd., headquartered in India, specializes in providing industrial artificial intelligence (AI) solutions tailored for various industries.
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.
North America was the largest region in the industrial artificial intelligence market in 2024. The regions covered in the industrial artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the industrial artificial intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The industrial artificial intelligence market consists of revenues earned by entities by providing services such as improved AI software development, security and compliance, data analytics and insights, and industrial IoT (IIoT) integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The industrial artificial intelligence market also includes sales of bots and chatbots, smart assistants, and manufacturing robots. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Artificial Intelligence Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial artificial intelligence market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial artificial intelligence ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial artificial intelligence market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.