Market Size And Forecast: Industrial AI Analytics 2022-2028 (Global)

Executive Summary

The report helps executives at industrial AI analytics software suppliers, current and prospective investors, and digital service providers active in the broader industrial software ecosystem, understand the current size and forecast growth of the industrial AI analytics software market. Based on a bottom-up analysis of revenues, interviews with software suppliers and survey data from 304 decision-makers at industrial firms, Verdantix finds that the industrial AI analytics software market will grow from $1.7 billion in 2023 to $5.0 billion in 2028, at a CAGR of 23.9%. Growth will be driven by access to a greater volume and variety of industrial data, rising knowledge of return on investment (ROI) and the increased role of generative AI in industrial facilities. Notable barriers are low digital maturity and distrust in AI stymying investment, as well as broader challenges with macroeconomic conditions causing a reprioritization of maintenance and operations spend.