Market Size And Forecast: Industrial AI Analytics 2022-2028 (Global)
Hugo Fuller
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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.An overview of the industrial AI analytics software market
The industrial AI analytics market was worth $1.5 billion in 2022
Awareness and tech maturity are driving growth in the AI analytics software market
Digital immaturity and macroeconomic challenges could stall growth in AI analytics software
The industrial AI analytics software market will grow at a CAGR of 23.9% to become a $5.0 billion market in 2028
Figure 2. Verdantix industry breakdown
Figure 3. Industrial AI analytics software spend by usage scenario (2022)
Figure 4. Industrial AI analytics software spend by region (2022)
Figure 5. Industrial AI analytics software spend by industry (2022)
Figure 6. Drivers and barriers to growth in the industrial AI analytics market (2023)
Figure 7. Industrial AI analytics software market forecast and CAGR (2022-2028)
Figure 8. Industrial AI analytics software market forecast by usage scenario (2022-2028)
Figure 9. Industrial AI analytics software market forecast by region (2022-2028)
Figure 10. Industrial AI analytics software market forecast by industry (2022-2028)
About the Authors
Hugo Fuller
Senior Analyst
Hugo is a Senior Analyst in the Verdantix Industrial Transformation practice. His current research agenda explores the technologies within the industrial asset management soft...
Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef...
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