Industrial AI Market Trends and Forecast
The future of the global industrial AI market looks promising with opportunities in the glass manufacturing, semiconductor manufacturing, automotive, machinery, chemical, oil & gas, and packaging markets. The global industrial AI market is expected to grow with a CAGR of 30.4% from 2024 to 2030. The major drivers for this market are increasing demand for automation and efficiency among industries, growing use of sensors in industrial settings, and rising adoption of industry 4.0 technologies.
• Lucintel forecasts that software is expected to witness higher growth over the forecast period.
• Within this market, glass manufacturing is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Industrial AI Market
• United States: In the United States, companies like Google and Microsoft are leading initiatives in Industrial AI. Google Cloud has partnered with industrial firms to integrate AI solutions into manufacturing processes, aiming to improve efficiency and predictive maintenance. Microsoft Azure offers AI-driven industrial IoT solutions, enabling real-time analytics and predictive capabilities for operational optimization. The U.S. government supports AI adoption in manufacturing through initiatives like the National Artificial Intelligence Initiative, which funds research and development in AI technologies.
• India: In India, companies are increasingly adopting Industrial AI to enhance manufacturing capabilities. Tata Consultancy Services (TCS) has launched AI-powered solutions for industrial automation and predictive maintenance. Indian startups like Wipro and Infosys are developing AI-driven platforms to optimize production processes and reduce downtime. The Indian government promotes AI innovation in manufacturing through programs like the National Policy on Electronics, which aims to boost domestic production and adoption of AI technologies.
• China: In China, companies such as Alibaba and Huawei are advancing in Industrial AI. Alibaba Cloud offers AI-driven solutions for smart manufacturing, leveraging data analytics and IoT integration to improve operational efficiency. Huawei focuses on AI applications in industrial automation and robotics, enhancing productivity and quality control in manufacturing. The Chinese government supports AI development in manufacturing through initiatives like the Made in China 2025 plan, which prioritizes AI integration and digital transformation in industries.
• Germany:In Germany, companies like Siemens and Bosch are driving Industrial AI innovations. SiemensÄX%$%X MindSphere platform integrates AI and IoT for predictive maintenance and process optimization in industrial settings. Bosch develops AI-driven solutions for smart factories, focusing on automation and data analytics to enhance manufacturing efficiency. The German government supports AI in manufacturing through initiatives like the Industry 4.0 strategy, which promotes digitalization and AI adoption in industrial production.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Industrial AI Market by Segment
The study includes a forecast for the global industrial AI market by type, application, and region.
Industrial AI Market by Type [Value from 2018 to 2030]:
• Software
• Hardware
Industrial AI Market by Application [Value from 2018 to 2030]:
• Glass Manufacturing
• Semiconductor Manufacturing
• Automotive
• Machinery
• Chemical
• Oil & Gas
• Packaging
• Others
Industrial AI Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Industrial AI Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial AI companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial AI companies profiled in this report include-
• Siemens
• Ibm
• Microsoft
• Cisco Systems
• General Electric Company
• Rockwell
• Automation
Recent Development in the Industrial AI Market
• Siemens : Siemens has been advancing in the Industrial AI market through its MindSphere IoT platform, which integrates AI and machine learning capabilities. The initiative includes leveraging AI to analyze data from industrial equipment and processes, aiming to optimize operational efficiency, predict maintenance needs, and enhance production quality. Siemens focuses on providing AI-driven insights to industrial customers, enabling predictive maintenance and operational analytics for improved decision-making.
• ABB : ABBÄX%$%Xs ABB Ability platform integrates AI and digital technologies to enhance industrial automation and control systems. The initiative includes AI applications for robotics, energy management, and industrial analytics. ABB focuses on deploying AI algorithms to optimize manufacturing processes, reduce energy consumption, and improve overall plant productivity. The company aims to leverage AI to enable smarter factories and sustainable industrial operations globally.
• General Electric (GE) : General Electric has developed the Predix platform, which integrates AI and industrial IoT capabilities to drive digital transformation in industries such as aviation, healthcare, and manufacturing. The initiative includes AI-powered predictive maintenance solutions that analyze equipment data to predict failures and optimize maintenance schedules. GE focuses on using AI to enhance asset performance management and operational efficiency across industrial sectors, supporting customers in maximizing uptime and reducing costs.
• Rockwell Automation : Rockwell Automation offers FactoryTalk Analytics, an AI-powered software suite designed to improve manufacturing processes and productivity. The initiative includes AI applications for real-time monitoring, anomaly detection, and predictive analytics. Rockwell Automation focuses on enabling smart manufacturing through AI-driven insights, helping industrial companies achieve operational excellence and adapt to changing market demands. The company aims to integrate AI into its automation solutions to deliver greater efficiency, flexibility, and competitiveness in industrial operations.
Features of the Global Industrial AI Market
Market Size Estimates: Industrial AI market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Industrial AI market size by type, application, and region in terms of value ($B).
Regional Analysis: Industrial AI market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the industrial AI market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial AI market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for industrial AI market?
Answer: The global industrial AI market is expected to grow with a CAGR of 30.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the industrial AI market?
Answer: The major drivers for this market are increasing demand for automation and efficiency among industries, growing use of sensors in industrial settings, and rising adoption of industry 4.0 technologies.
Q3. What are the major segments for industrial AI market?
Answer: The future of the industrial AI market looks promising with opportunities in the glass manufacturing, semiconductor manufacturing, automotive, machinery, chemical, oil & gas, and packaging markets.
Q4. Who are the key industrial AI market companies?
Answer: Some of the key industrial AI companies are as follows:
• Siemens
• Ibm
• Microsoft
• Cisco Systems
• General Electric Company
• Rockwell
• Automation
Q5. Which industrial AI market segment will be the largest in future?
Answer: Lucintel forecasts that software is expected to witness higher growth over the forecast period.
Q6. In industrial AI market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the industrial AI market by type (software and hardware), application (glass manufacturing, semiconductor manufacturing, automotive, machinery, chemical, oil & gas, packaging, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Industrial AI Market, Industrial AI Market Size, Industrial AI Market Growth, Industrial AI Market Analysis, Industrial AI Market Report, Industrial AI Market Share, Industrial AI Market Trends, Industrial AI Market Forecast, Industrial AI Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.