Summary
Objective
The objectives of AI in the industrial machinery market are to enhance operational efficiency through predictive maintenance and real-time monitoring as well as improve quality control and reduce errors through advanced analytics.
Scope
The Global AI in Industrial Machinery Market size was valued at USD 5.9 Billion in 2023 and the total AI in Industrial Machinery Market revenue is expected to grow at a CAGR of 24.2 % from 2023 to 2030, reaching nearly USD 26.90 Billion. The market report provides an in-depth analysis of the AI in Industrial Machinery market's current status, with a forecast from 2024 to 2030 and a base of 2023. The report also covers an understanding of the Machinery industry. It highlights major competitors and their market positioning and provides an overview of the competitive landscape.
The report covers the rapid expansion of AI in the industrial machinery as well as the need for enhanced operational efficiency, predictive maintenance, and process optimization. The key applications of AI in industrial machinery market includes predictive maintenance which minimizes downtime by forecasting equipment failures and smart automation systems that adopt to changing production needs. The market's growth is fueled by increasing adoption across industries like manufacturing, automotive, and energy, where AI's capabilities are transforming traditional practices and driving innovation.
Summary
The competitive landscape of the AI In Industrial Machinery Market is characterized by a range of players' contribution solutions tailored to various segments and needs within the AI In Industrial Machinery manufacturing industry. Major companies such as, General Electric (GE), Honeywell, ABB, Mitsubishi Electric Corporation, and Rockwell Automation, Inc. dominate the AI in Industrial Machinery market with their extensive experience, broad product, portfolios, and global reach.
The IBM Corporation is a leading player in the AI in Industrial Machinery market. The IBM designed to help manufacturers accelerate and scale digital transformation. Their innovations such as IBM watsonx platform which deploys advanced AI to create predictive insights as well as the Zero Trust approach which ensures a secure, risk-aware and resilient business, and IBM Hybrid cloud architecture,enables agility using a responsive, easily consumed infrastructure. These AI platforms innovated by IBM help it to maintain its leadership in the AI in Industrial Machinery market. IBM provides advanced AI technologies such as machine learning, deep learning, and natural language processing to transform industrial machinery. The company continuously investing in research and development focusing on enhancing its capabilities and expanding its applications within industrial machinery.
General Electric Company-: The General Electric Company is commonly known as GE. It generally operates in various sectors such as aviation, healthcare, power, renewable energy, and financial services. The company has embraced digital transformation as a growth strategy. This includes the development and deployment of digital tools and platforms such as the Predix platform which integrates industrial data and analytics to optimize operations and efficiency. GE invests heavily in research and development to lead in technology and deliver superior products and services to its customers.
Honeywell International Inc.: The Honeywell International Inc. is a multinational company that operate in various sectors such as aerospace, building technologies, performance materials and technologies. The company is known for its diverse portfolio and its ability to integrate technology into practical solutions across multiple industries. Honeywell is committed to sustainability and has integrated this focus into its growth strategy. The company aims to develop products and solutions that help customers reduce their environmental footprint and improve energy efficiency.
• In 2024, GE Vernova has launched prediction for Sustainability Insights, an AI-based software solution that optimizes manufacturers' sustainability goals, maximizes productivity, and manages climate metrics for regulatory compliance across an enterprise.
• In 2024, ABB points out three key factors propelling the adoption of AI-driven robotics solutions, as it expands into previously unexploited segments. The significance of artificial intelligence (AI) is set to be further emphasized in the upcoming year.
Table of Content
1. AI In Industrial Machinery Market Competition Matrix
a. Market Structure
• Market Leaders
• Market Followers
• Emerging Players
2. Competitive Benchmarking of key players
3. Mergers and Acquisition in AI In Industrial Machinery from 2014 to 2024
4. AI In Industrial Machinery Manufacturing Company Profile: Key Players
1. General Electric Company- United States
2. ABB Ltd.- Switzerland
3. Mitsubishi Electric Corporation-Japan
4. Schneider Electric SE- France
5. Honeywell International Inc.- United States
6. Rockwell Automation, Inc.- United States
7. Fanuc Corporation-Japan
8. IBM Corporation- United States
9. Microsoft Corporation- United States
10. Intel Corporation- United States
11. Rockwell Automation- United States
12. GE- United States
14. VIDIA- United States
15. Uptake- United States
16. Veo Robotics- United States
17. Automation Anywhere- United States
18. Machina Labs, Inc.- United States
19. Bosch Rexroth AG
20. Yaskawa Electric Corporation
21. KUKA AG- Germany
22. FANUC Corporation- Japan
23. Omron Corporation- Japan
24. Cognex Corporation-United States
25. Intel Corporation- United States
26. NVIDIA Corporation- United States
27. Google LLC- United States
28. Amazon Web Services, Inc.- United States
5. Key Findings
