According to the latest report by The Business Research Company, next-generation artificial intelligence (AI) is projected to experience sustained growth in the automation market over the coming years, demonstrating robust development momentum.
Specifically, the market has seen substantial growth in recent years, expanding from $1.31 billion in 2023 to $1.53 billion in 2024, with a compound annual growth rate (CAGR) of an impressive 16.9%. This rapid expansion is driven by continuous advancements in computing power, widespread utilization of big data, ongoing improvements in natural language processing technologies, increasing demand for personalized solutions, widespread adoption of cloud computing, and the continual development of neural network technologies.
Looking ahead, the growth potential for next-generation artificial intelligence in the automation market remains substantial. By 2028, the market size is expected to reach an impressive $28.6 billion, maintaining a high CAGR of 17%. This upward trend will be propelled by multiple factors, including the growing demand for intelligent process automation, the continued expansion of cross-industry applications, increased investments in artificial intelligence, broader application scopes across various sectors, heightened focus on operational efficiency, and the escalating need to enhance customer experiences.
So, what is fueling the explosive growth of this market?
One of the pivotal factors is the increasing prevalence of industrial robots. These programmable automated machines can execute various manufacturing tasks with precision, speed, and consistency, thereby enhancing production efficiency, improving product quality, reducing labor costs, and possessing the capability to handle complex tasks. The application of next-generation artificial intelligence in the automation sector leverages advanced planning and decision-making abilities, enabling industrial robots to optimize operations and adapt to new tasks with minimal reprogramming. Additionally, by generating precise, context-aware instructions and simulations, AI further enhances the performance of these robots, allowing them to better manage intricate manufacturing processes.
Within this market, numerous industry giants have emerged as key players. Prominent companies such as Microsoft, Amazon Web Services, Siemens, General Electric, International Business Machines (IBM), Cisco Systems, and Oracle have secured significant market shares through their robust technological capabilities and extensive market experience. Additionally, companies like Salesforce, Nvidia, Zebra Technologies Corp., Autodesk, SAS Institute, OpenAI, Databricks, UiPath, Quantiphi, Darktrace, Automation Anywhere, and C3.ai have also demonstrated strong competitive prowess in this sector.
Notably, The Business Research Company is currently holding a year-end early sale event. For a limited time, customers can avail themselves of up to a 30% discount on detailed market research reports. This promotion undoubtedly offers a valuable opportunity for stakeholders interested in the development of next-generation artificial intelligence within the automation market.
In summary, next-generation artificial intelligence is encountering unprecedented growth opportunities in the automation market. With continual technological advancements and the ongoing expansion of applications, the market is expected to maintain its rapid growth trajectory, offering broader development prospects and opportunities for related industries and businesses.
