Artificial Intelligence in Manufacturing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

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Report Code: ZMR-2838 | Report Format : | Status : Upcoming |

Abstract

Global Artificial Intelligence in Manufacturing Market: Overview

The progress and advancements of robots and growth in their operation rate particularly in the developing countries had a considerable effect on the global artificial intelligence market. Artificial intelligence is being increasingly used in different sectors for improving the work efficiency and quality. The adoption of the artificial intelligence in the manufacturing sector has yielded a lot of benefits. Enhanced and better productivity, increased customer satisfaction, diversified application areas, and big data incorporation is likely to fuel the global artificial intelligence in manufacturing market. On the other hand, lack of experienced workforce and intimidation to human dignity as well as other threats could hinder the market development. Furthermore, the effect of these aspects is projected to be minimal owing to the introduction of latest technologies.

Global Artificial Intelligence in Manufacturing Market: Growth Factors

Artificial Intelligence has various application areas across finance, retail, media & advertising, automotive & transportation, healthcare, law, agriculture, oil & gas, educational institutions, and other sectors. The effect of this technology is projected to be higher in the coming years for the manufacturing market, as machine-learning algorithms are likely to be used increasingly for improving the quality of the work. The rapid implementation of robotics in the manufacturing sector, the vast volume of data and information that is expected to be generated from big data technology, and the computer vision technology are fuelling the expansion of the artificial intelligence in manufacturing market. Enhanced and better productivity, increased customer satisfaction, diversified application areas, and big data incorporation is likely to fuel the global artificial intelligence in manufacturing market. On the other hand, lack of experienced workforce and intimidation to human dignity as well as other threats could hinder the market development. Furthermore, the effect of these aspects is projected to be minimal owing to the introduction of latest technologies.

Global Artificial Intelligence in Manufacturing Market: Segmentation

The global market can be classified into the following segments. In terms of offerings, the artificial intelligence in manufacturing market can be bifurcated into software and hardware. In terms of technology, the global market is fragmented into computer vision, deep learning, natural language processing, and context awareness. In terms of application, the global market is divided into machinery inspection and predictive maintenance, material movement, production planning, reclamation, field services, and quality control. In terms of industry, the artificial intelligence in manufacturing market is classified into energy and power, semiconductor and electronics, automobile, pharmaceuticals, food and beverages, heavy metals and machine manufacturing, and others (aerospace and textiles).

Global Artificial Intelligence in Manufacturing Market: Regional Analysis

North America, which mainly comprises of Mexico, the U.S., and Canada is likely to dominate the complete artificial intelligence in manufacturing market in the coming future. The U.S. is expected to be the major contributor to the development of the global artificial intelligence in manufacturing market in North America. Cross-industry/sector participation in the manufacturing field along with major augment in business enterprise capital investment in North America is likely to propel the demand for the artificial intelligence in manufacturing market. Moreover, the presence of most important AI providers such as IBM Corporation, NVIDIA Corporation, Alphabet Inc., and Intel Corporation in this region also anticipates propelling the popularity of the global artificial intelligence in manufacturing market. On the other hand, Asia Pacific is expected to develop swiftly in the coming future.

Global Artificial Intelligence in Manufacturing Market: Competitive Players

Some of the most important market players in the global artificial intelligence in manufacturing market are Ubtech Robotics Corp., Intel Corporation, Siemens AG, Alphabet Inc., NVIDIA Corporation, Microsoft Corporation, IBM Corporation, DataRPM, General Electric Company, General Vision, Inc., Sight Machine, Rockwell, AIBrain, Inc., Cisco Systems, Inc., Automation Inc., Oracle Corporation, Mitsubishi Electric Corporation, Preferred Networks, Inc., SAP SE, Skymind Inc., Vicarious Inc., CloudMinds Technologies, and Citrine Informatics, among others.

Global Artificial Intelligence in Manufacturing Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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