Artificial Intelligence (AI) in Manufacturing Market Size, Share, Growth Analysis, By Component(Network, Module), By Technology(Machine Learning, and Computer Vision), By End User(Medical Devices, and Automobiles), By Application(Production Planning, Predictive Maintenance, & Machinery Inspection), By Region - Industry Forecast 2024-2031

Global Artificial Intelligence (AI) in Manufacturing Market size was valued at USD 2.58 Billion in 2022 and is poised to grow from USD 3.20 Billion in 2023 to USD 64.63 Billion by 2031, growing at a CAGR of 45.6% in the forecast period (2024-2031). 

Artificial Intelligence (AI) in the manufacturing market is characterized by fierce competition among major players looking to use AI technology to enhance manufacturing The leading companies in this market are invest heavily in R&D, make strategic deals and acquire small technologies to strengthen their AI capabilities Competitive landscape Tech giants, Marked by AI specialists and the presence of traditional manufacturing companies, they are integrating AI solutions to stay ahead of the industry. Siemens is a leading player in artificial intelligence (AI) in manufacturing market, offering complete AI solutions through its digital factory division. The company is focused on developing AI-powered software to improve forecasting, product quality and supply chain efficiency. 'Microsoft Corporation', 'NVIDIA Corporation', 'International Business Machines Corporation (IBM)', 'Intel Corporation', 'Siemens AG', 'General Electric Company', 'Google LLC', 'Micron Technology, Inc.', 'Amazon Web Services, Inc. (AWS)', 'Sight Machine, Inc.', 'Progress Software Corporation (DataRPM)', 'AIBrain, Inc.', 'General Vision, Inc.', 'Rockwell Automation, Inc.', 'Cisco Systems, Inc.', 'Mitsubishi Electric Corporation', 'Oracle Corporation', 'SAP SE', 'Vicarious, Inc.', 'UBTECH Robotics Corp Ltd'

The use of AI in manufacturing dramatically will increase productivity. AI systems can analyze the massive quantities of facts from manufacturing machines in actual time, discover bottlenecks, and optimize the approaches to lessen downtime. This ends in more productiveness and lower expenses, making AI an appealing investment for the producers looking to remain competitive. 

North America dominated the market and accounted for 33.9% in 2023. Revenues in the regional market are driven by top manufacturers of high-performance hardware components required to operate advanced AI graphics. The national strategy for advanced manufacturing serves as a strategic plan that outlines initiatives to revitalize manufacturing and strengthen domestic supply chains. This framework prioritizes research efforts, including machine learning, data privacy, encryption and risk assessment. It aims to facilitate the integration of AI within manufacturing processes.