(MENAFN- GlobeNewsWire - Nasdaq)
New Delhi, March 15, 2023 (GLOBE NEWSWIRE) -- 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.
Sample Request @
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.
Please Visit the Press Release:
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.
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.
don't miss the business opportunity in the global industrial artificial intelligence (ai) market. consult our analysts to gain crucial insights and facilitate your business growth.
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.
In March 2023 - Rockwell Automation, a US-based automation company, acquired Knowledge Lens, a services and solution provider that uses deep data science, AI, and technical know-how to combine digital technologies with enterprise data to give meaningful business insights. In February 2023 – Xaba, a Canada-based developer of AI-driven robotics and CNC machine controller, completed a round of seed investment, sponsored by Hazelview Ventures with involvement from Whiteshell Group Inc., to bring AI-driven fabrication processes and intelligent autonomous robots to market.
Scope of the Report
| Attributes || Details |
| Years Considered || Historical Data – 2019–2022 |
| Base Year – 2022 |
| Estimated Year – 2023 |
| Forecast Period – 2023–2029 |
| Facts Covered || Revenue in USD Million |
| Market Coverage || North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Product/ Service Segmentation || Offering, Technology, Application, Industry, Region |
| Key Players || 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, SAP SE |
Hardware Software Platform Solution
Computer Vision Deep Learning Natural Language Processing (NLP) Context Awareness
Predictive Maintenance and Machinery Inspection Material Movement Production Planning Field Services Quality Control Reclamation
Energy & Power Pharmaceuticals Heavy Metals & Machine Manufacturing Semiconductor & Electronics Food & Beverages Others
North America Europe Asia Pacific Latin America Middle East and Africa
Please Find Below Some Related Topics:
saudi arabia data center market - size, share, trend analysis, opportunity and forecast report, 2019–2029 saudi arabia cloud services market - size, share, trend analysis, opportunity and forecast report, 2019–2029 5g fixed wireless access market - global size, share, trend analysis, opportunity and forecast report, 2019–2029 uae software as a service (saas) market - size, share, trend analysis, opportunity and forecast report, 2019–2029 infection surveillance solutions market - global size, share, trend analysis, opportunity and forecast report, 2019–2029
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
Tags industrial ai market industrial ai market size industrial ai market share industrial ai market growth industrial ai Related Links
5g fixed wireless access market infection surveillance solutions market europe smart building market supply chain big data analytics market automotive terminal market middle east and africa video surveillance market micro-electro-mechanical systems (mems) market fire protection system market automated storage and retrieval system (asrs) market through-hole passive components market automation center of excellence market power tools market air classifying mill market brewery equipment market automatic labeling machine market uae data center power market workspace as a service market multichannel order management market web 3.0 blockchain market robotic process automation market