Global AI in Manufacturing market expected to reach USD 20.8 billion by 2028 with a CAGR of 45.6%

From GlobeNewswire: 2024-06-06 08:00:00

The Global Artificial Intelligence in Manufacturing Market is valued at USD 3.2 billion, expected to reach USD 20.8 billion by 2028, with a CAGR of 45.6%. US market growth driven by automation for efficiency and cost savings, with predictive maintenance and quality control optimizing processes, enhancing supply chain and customization capabilities.

Asia Pacific, including China, Japan, and South Korea, is the largest market for industrial robots, utilizing data for deep learning algorithms to train robots. Rapid industrialization boosts manufacturing, with many SMEs present. Major AI in Manufacturing companies include Siemens, IBM, Intel, NVIDIA, General Electric, Microsoft, Google, Amazon Web Services.

Predictive maintenance & machinery inspection app to dominate market. AI used for regular examination, inspection, lubrication, testing, and adjustments, with data-driven approach predicting equipment failures, enabling just-in-time maintenance. Metals & heavy machinery industry to see highest growth, AI facilitates machine condition analysis to avoid downtime and wastage, with predictive maintenance reducing time and costs. Field services play a crucial role in data collection and analysis for plant operators.



Read more at GlobeNewswire: Understanding the AI in Manufacturing Market: Regional