The GMI Research’s latest analysis reveals that the Artificial Intelligence in Manufacturing Market is slated to register a higher CAGR over the forecast period. This is attributed to the wide availability of big data, the rising venture capital investments, the growing demand for hardware platforms, and the increasing need for high-computing processors to operate a large range of AI software.
Request for a FREE Sample Report on Artificial Intelligence in Manufacturing Market
Artificial Intelligence in Manufacturing Market’s leading Manufacturers:
- NVIDIA Corporation
- Intel Corporation
- IBM
- Siemens
- General Electric
- Microsoft
- Micron Technology
- Amazon Web Services, Inc.
- Sight Machine
Artificial Intelligence in Manufacturing Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The wide availability of big data and the rising venture capital investments are the key drivers contributing to the growth of artificial intelligence in the manufacturing market size . Various artificial intelligence technologies are largely adopted by manufacturers in multiple sectors, including automotive, pharmaceuticals, energy & power, and food and beverages. In addition to this, the rising demand for automation, along with the increasingly evolving sectors and industrial IoT, is promoting the manufacturers to opt for numerous AI-based technologies to cater to the constantly changing demand of the target audience.
The rising demand for hardware platforms and the growing need for high-computing processors to operate a large range of AI software will further surge the demand of the AI manufacturing market share in terms of revenue. In addition to this, the rising demand for machine learning technologies and computer vision to analyze multiple machines, along with the high adoption of AI technologies in factories to enhance productivity, decrease machine downtime, and reduce the operational cost, will promote the end-users to opt for several AI technologies in the manufacturing process. The outbreak of the COVID-19 pandemic has positively influenced the growth of the market due to the growing focus on maintaining social distance and staying at homes is enforcing the manufactures to adopt AI technologies to create automation in the manufacturing and reduce the physical contact between the workers, thus minimizing the possibilities of spreading the coronavirus.
Technology Segment Drivers
Based on technology, the market is segmented into machine learning, context-aware computing, natural learning processing, and computer vision. Machine learning is expected to increase at a faster CAGR over the coming years due to the vast availability of big data and the strong adoption of machine learning in factories to improve their productivity, reduce operational cost, and decrease machine downtime. Machine learning is being rapidly applied in numerous manufacturing processes like machinery inspection, predictive analytics, quality control, and other processes due to its capability to collect and handle big data.
Application Segment Drivers
Based on the application, predictive maintenance and machinery inspection are projected to rise at a higher CAGR in the coming years due to the increasing use of computer vision and machine learning technologies, followed by the growing installation of industrial IoTs. Various AI technologies are being rapidly utilized for predictive maintenance and machinery inspection to confirm the proper functioning of the equipment and decrease the rate of deterioration.
Artificial Intelligence in Manufacturing Market Segmentation:
Segmentation by Offering:
- Hardware
- Processor
- MPU
- GPU
- FPGA
- Asic
- Memory
- Network
- Processor
- Software
- AI Solutions
- On-Premises
- Cloud
- AI Platform
- Machine Learning Framework
- Application Program Interface (API)
- Services
- Deployment & Integration
- Support & Maintenance
- AI Solutions
Segmentation by Technology:
- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Others
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
Segmentation by Application:
- Predictive Maintenance & Machinery Inspection
- Material Movement
- Production Planning
- Field Services
- Quality Control
- Cybersecurity
- Industrial Robots
- Reclamation
Segmentation by Industry:
- Automobile
- Energy & Power
- Pharmaceuticals
- Heavy Metals & Machinery Manufacturing
- Semiconductors & Electronics
- Food & Beverages
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
