GITNUX MARKETDATA REPORT 2024

AI In The Automation Industry Statistics

The use of artificial intelligence in the automation industry is expected to significantly increase productivity and efficiency while reducing operational costs.

Highlights: Ai In The Automation Industry Statistics

  • By 2025, the global market size for AI in the industrial automation industry is expected to reach 16 Billion USD.
  • About 85% of businesses believe AI will allow their companies to obtain or sustain a competitive advantage.
  • 84% of global businesses recognize the use of AI as "essential".
  • By 2021, IDC predicts spending on AI systems will reach 52.2 billion.
  • The use of AI in industrial automation could save about 20% of work hours spent on predictable physical work in the manufacturing sector.
  • AI manufacturing market will be worth $16.7 billion by 2026.
  • 89% of all AI developments in manufacturing are to improve preventative condition monitoring.
  • Every second, AI-Enabled automation systems analyze 50,000+ variables in factory settings.
  • 63% of people prefer to be served by an AI-powered chatbot, suggests the increasing acceptance of AI in industrial processes.
  • By 2024, AI implementation in the manufacturing sector is expected to raise productivity by 40%.
  • AI can reduce engineering efforts and costs by 20-50% in industrial automation.
  • 57% of executives say AI is a main component in business process automation strategy.
  • By 2025, the AI in Fintech market is expected to reach a market value of $22.6 billion.
  • 70% of companies are likely to adopt at least one form of AI technology by 2030.
  • Machine learning, a subset of AI, can increase production capacity by up to 20% and lower material consumption rates by 4%.
  • AI in the heavy industry market will achieve a compound annual growth rate (CAGR) of 30.5% during the period of 2020-2027.

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The Latest Ai In The Automation Industry Statistics Explained

By 2025, the global market size for AI in the industrial automation industry is expected to reach 16 Billion USD.

The statistic indicates that by 2025, the global market size for artificial intelligence (AI) in the industrial automation industry is projected to reach 16 billion USD. This forecast reflects the growing adoption of AI technologies in the manufacturing and industrial sectors to improve efficiency, productivity, and decision-making processes. The substantial market size highlights the significant investment and opportunities in leveraging AI applications such as predictive maintenance, robotics, and data analytics to enhance operations and drive innovation in industrial automation. This trend underscores the increasing importance of AI in transforming industries towards a more intelligent and automated future.

About 85% of businesses believe AI will allow their companies to obtain or sustain a competitive advantage.

The statistic that about 85% of businesses believe AI will allow their companies to obtain or sustain a competitive advantage indicates a widespread perception among organizations regarding the potential benefits of artificial intelligence technology. This high level of confidence in the strategic value of AI suggests that businesses view this technology as a critical tool for driving innovation, improving efficiency, and ultimately outperforming competitors in the market. The statistic highlights the growing recognition of AI’s transformative power in enhancing decision-making, automating processes, and creating new opportunities for growth. As such, it underscores the increasing importance of AI adoption for businesses seeking to stay ahead in a rapidly evolving and competitive business landscape.

84% of global businesses recognize the use of AI as “essential”.

The statistic that 84% of global businesses recognize the use of artificial intelligence (AI) as “essential” reveals a strong consensus among a majority of businesses worldwide regarding the importance of AI in their operations. This high percentage indicates that companies across various industries acknowledge the value that AI can bring in terms of enhancing efficiency, productivity, and decision-making processes. It suggests that AI technologies are increasingly viewed as crucial tools for staying competitive in today’s rapidly evolving business landscape. The statistic underscores the growing prominence of AI as a transformative technology that is not only recognized but also embraced by a significant majority of businesses as a strategic imperative for achieving success and driving innovation.

By 2021, IDC predicts spending on AI systems will reach 52.2 billion.

The statistic provided states that by the year 2021, the research firm IDC predicts that global spending on artificial intelligence (AI) systems will reach a total of $52.2 billion. This projection indicates a significant and growing investment in AI technologies across various industries worldwide. The increasing adoption of AI systems is driven by their proven benefits in enhancing efficiency, productivity, and decision-making processes. The substantial investment in AI reflects the importance that businesses and organizations are placing on harnessing the power of artificial intelligence to drive innovation and gain a competitive edge in the rapidly evolving digital economy.

The use of AI in industrial automation could save about 20% of work hours spent on predictable physical work in the manufacturing sector.

The statistic suggests that implementing artificial intelligence (AI) in industrial automation processes within the manufacturing sector has the potential to reduce the amount of time spent on predictable physical work by approximately 20%. This implies that tasks that are routine, repetitive, and require a low level of cognitive input could be efficiently handled by AI technologies, freeing up human workers to focus on more complex, strategic, and creative aspects of production. By automating such tasks, companies can enhance productivity, minimize errors, and ultimately realize cost savings while improving overall operational efficiency in the manufacturing industry.

AI manufacturing market will be worth $16.7 billion by 2026.

The statistic “AI manufacturing market will be worth $16.7 billion by 2026” indicates the projected value of the artificial intelligence (AI) manufacturing industry by the year 2026. This forecast suggests a significant growth trend in the integration and adoption of AI technologies within the manufacturing sector, leading to an estimated market value of $16.7 billion. This statistic serves as a forecast of the economic impact of AI in manufacturing and highlights the increasing reliance on AI-driven technologies to enhance efficiency, productivity, and innovation within this industry. Such growth projections are likely driven by advancements in AI capabilities, increasing demand for automation and smart manufacturing solutions, as well as the potential for cost savings and competitive advantages that AI can offer to manufacturers.

89% of all AI developments in manufacturing are to improve preventative condition monitoring.

The statistic “89% of all AI developments in manufacturing are to improve preventative condition monitoring” suggests that the vast majority of Artificial Intelligence (AI) efforts within the manufacturing sector are dedicated to enhancing proactive maintenance practices through advanced technology. This indicates a strong industry focus on leveraging AI capabilities to monitor machinery and equipment in real-time, detect potential issues before they escalate into failures, and ultimately prevent costly downtime. By prioritizing preventative condition monitoring, manufacturers aim to increase overall operational efficiency, reduce maintenance costs, and enhance production reliability by harnessing the power of AI-driven predictive analytics and machine learning algorithms.

Every second, AI-Enabled automation systems analyze 50,000+ variables in factory settings.

The statistic suggests that AI-Enabled automation systems are capable of analyzing a vast amount of variables within factory settings at a rapid pace, specifically at a rate of 50,000+ variables per second. This indicates the advanced capabilities of artificial intelligence in processing and interpreting a large amount of data within a short timespan. Such automation systems likely play a crucial role in optimizing efficiency, identifying patterns, making real-time adjustments, and improving overall operations within a factory environment. The statistic highlights the scale and speed at which AI technology can operate, showcasing its potential to enhance decision-making processes and drive innovation in manufacturing settings.

63% of people prefer to be served by an AI-powered chatbot, suggests the increasing acceptance of AI in industrial processes.

The statistic that 63% of people prefer to be served by an AI-powered chatbot indicates a significant shift in consumer behavior towards accepting and embracing artificial intelligence technology in industrial processes. This increasing preference for AI chatbots suggests that individuals are becoming more comfortable with automation and digital interactions for customer service and other tasks. The high percentage of people opting for AI chatbot assistance signifies a growing confidence in the capabilities of artificial intelligence to provide efficient and effective support. This trend highlights the importance for industries to integrate AI technology into their operations to meet the evolving preferences and expectations of customers.

By 2024, AI implementation in the manufacturing sector is expected to raise productivity by 40%.

The statistic that by 2024, AI implementation in the manufacturing sector is projected to increase productivity by 40% indicates the significant impact that artificial intelligence is expected to have on the manufacturing industry in the near future. This forecast suggests that with the integration of AI technologies such as automation, predictive maintenance, and data analytics, manufacturing processes are set to become more efficient, streamlined, and productive. By leveraging AI tools and algorithms, manufacturers can optimize production, reduce downtime, enhance quality control, and ultimately boost overall productivity by a substantial margin. This statistic underscores the transformative potential of AI in revolutionizing the manufacturing landscape and signals a fundamental shift towards a more advanced and digitally-driven industry.

AI can reduce engineering efforts and costs by 20-50% in industrial automation.

The statistic that AI can reduce engineering efforts and costs by 20-50% in industrial automation indicates that the incorporation of artificial intelligence technologies in industrial processes can lead to significant improvements in efficiency and cost-effectiveness. By leveraging AI algorithms for tasks such as predictive maintenance, quality control, and process optimization, industries can streamline their operations, optimize resource allocation, and enhance overall productivity. The 20-50% range suggests that the extent of these benefits may vary depending on the specific applications and implementation strategies employed. Overall, this statistic highlights the transformative potential of AI in industrial automation to drive substantial reductions in engineering efforts and costs, ultimately leading to increased competitiveness and profitability for businesses.

57% of executives say AI is a main component in business process automation strategy.

The statistic that 57% of executives say AI is a main component in business process automation strategy indicates that a majority of top-level business leaders recognize the importance of artificial intelligence in streamlining and optimizing their organization’s operations. This suggests a growing trend towards leveraging AI technologies to automate tedious and repetitive tasks, enhance decision-making processes, and ultimately improve overall efficiency and productivity. The high percentage of executives acknowledging AI as a key component highlights its increasingly prominent role in shaping modern business strategies and reinforces the idea that AI adoption is becoming more widespread across various industries.

By 2025, the AI in Fintech market is expected to reach a market value of $22.6 billion.

This statistic indicates that by the year 2025, the artificial intelligence (AI) in financial technology (Fintech) market is projected to achieve a market value of $22.6 billion. This suggests a significant growth trajectory for AI in the Fintech sector, underscoring the increasing adoption of AI technologies to enhance various financial services and processes. The expected market value reflects the industry’s recognition of the potential benefits of AI, such as improved efficiency, enhanced decision-making capabilities, and personalized customer experiences. The forecasted growth also indicates the rising demand for AI-based solutions within the financial sector, driven by factors like automation, data analytics, risk management, and regulatory compliance.

70% of companies are likely to adopt at least one form of AI technology by 2030.

This statistic suggests that a substantial majority of companies are anticipated to integrate some form of artificial intelligence (AI) technology into their operations by the year 2030. This adoption of AI is likely driven by the increasing recognition of its potential to enhance efficiency, productivity, and decision-making processes across various industries. Companies that embrace AI may gain a competitive edge in the evolving business landscape, enabling them to streamline processes, improve customer experiences, and drive innovation. As AI technology continues to advance and becomes more accessible, it is expected that a significant portion of companies will leverage these tools to stay relevant and capitalize on the benefits they offer.

Machine learning, a subset of AI, can increase production capacity by up to 20% and lower material consumption rates by 4%.

The statistic states that implementing machine learning, a subset of artificial intelligence, can lead to a potential increase in production capacity by up to 20% and a reduction in material consumption rates by 4%. This implies that by leveraging machine learning algorithms to optimize processes and decision-making, businesses can enhance their operational efficiency and productivity. The use of advanced analytics and predictive models within machine learning enables companies to make more informed and data-driven decisions, leading to improved resource allocation, reduced waste, and ultimately higher output levels. By harnessing the power of machine learning, organizations can streamline operations, achieve cost savings through lower material consumption rates, and drive overall performance improvements in their production processes.

AI in the heavy industry market will achieve a compound annual growth rate (CAGR) of 30.5% during the period of 2020-2027.

The statistic indicates that the use of artificial intelligence (AI) in the heavy industry market is projected to experience significant growth over the period of 2020-2027, with a compound annual growth rate (CAGR) of 30.5%. This suggests that there will be a rapid expansion in the adoption and integration of AI technologies within heavy industry sectors such as manufacturing, construction, and energy. The high CAGR signifies a strong upward trend in the implementation of AI-driven solutions to enhance efficiency, productivity, and decision-making processes in these industries. This growth forecast reflects the increasing recognition of the transformative potential of AI in optimizing operations, reducing costs, and driving innovation within the heavy industry market.

References

0. – https://www.www2.deloitte.com

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4. – https://www.www.linkedin.com

5. – https://www.www.marketsandmarkets.com

6. – https://www.www.mckinsey.com

7. – https://www.www.ibm.com

8. – https://www.www.oracle.com

9. – https://www.www.pwc.co.uk

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12. – https://www.www.globenewswire.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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