Artificial Industrial in Manufacturing Market Research Report - Global Forecast 2027

Artificial Industrial in Manufacturing Market, By Component (Hardware, Software), By Technology (Deep Learning, Natural Language Processing, Computer Vision), By End-users (Consumer Electronics, Automotive) - Global Forecast 2027

ID: MRFR/ICT/2846-HCR | February 2021 | Region: Global | 100 pages         

Artificial Industrial in Manufacturing Market

The Artificial Industrial in Manufacturing Market reach approximately USD 4.9 billion by 2023 with a CAGR of 45% between 2020-2030.

Segmentation

By Component Hardware Software
By Technology Deep Learning Natural Language Processing Computer Vision
By End-users Consumer Electronics Automotive

Key Players

  • SAP SE (Germany)
  • Intel Corporation (U.S.)
  • Oracle Corporation (U.S.)
  • Siemens AG (Germany)
  • Mitsubishi Electric Corporation (Japan)
  • IBM Corporation (U.S.)
  • Rockwell Automation Inc. (U.S.)
  • Alphabet Inc. (U.S.)
  • General Vision
  • Inc. (U.S)

Drivers

  • The more developments are made in the industrial internet of things
  • the more demand for these technologies is elevating in the industries.
Speak to Analyst Request a Free Sample

Market Overview 


The application of artificial intelligence or AI in different industries is generally termed artificial industrial. It is the replication of human processes performed by computer systems and several machines. These solutions identify trends and patterns in the industry’s manufacturing processes, making it more efficient while reducing energy consumption. The artificial industrial in manufacturing market helps in getting the information and defines the corrections. With the advent of technology, the reduced cost and highly efficient robots are going to advantage the manufacturing units. The increased developments of artificial intelligence for better industrial performance are escalating the growth of artificial industries in the global manufacturing market.


Over the years, AI in the manufacturing market has become highly competitive. Several renowned international brands, local brands, and new entrants are making a great competitive landscape. The market top players are constantly putting in efforts for the further expansion of the market through various mergers and acquisitions. In addition, the key players are bringing new innovations to the market to benefit the users more and more. 


The elevating investments in the research and development sector, as well as the creation of a cost-effective product portfolio by the market players, is going to create huge demand for the artificial industrial in manufacturing industry. The growth of big data technology and artificial intelligence for enhancing the operational efficiency of the manufacturing processes has surged the overall growth of AI in manufacturing market. Even the presence of large vendors is creating competitiveness which further propels the market potential. All such factors are responsible for the expansion of the global market size in the upcoming years.


The report focuses on the artificial industrial in manufacturing market structure along with the forecasted valuation and the growth rate of the market. It discusses the impact of the COVID19 pandemic on the artificial industrial in manufacturing Industry. It also includes several factors affecting the market growth and describes different segments of the market. The report also includes key market players that have major control over the market growth and highlights different geographies which can influence the overall market. As the artificial industrial in the global manufacturing market is skyrocketing in recent times, the market valuation is anticipated to reach approximately USD 4.9 billion by 2023 with a CAGR of 45 percent between 2017 and 2023.


COVID19 Analysis


The wave of the COVID19 pandemic critically impacted the entire globe, from health to finance. The economic growth rate degraded to the lowest levels. Almost all sectors faced the adverse effects of the pandemic and cannot continue their normal functioning. In the lockdown, the stringent regulations restricted industries and production units from working properly, thus creating a gap in the supply chain. Even though the artificial industrial in manufacturing market did suffer in the pandemic, the inclination of several industries towards automation and artificial intelligence restored the market growth.


During the pandemic, several industries encountered the problem of performing manual operations, and therefore, the demand for artificial industrial in manufacturing processes escalated. The key market players also attempted their best to provide solutions that can ease the industrial operation, which in turn led to the progression of the AI market to stupendous heights in the coming years.


Market Dynamics



  • Major Drivers of The Market


The artificial industrial in manufacturing market is soaring up at a faster rate in the present times due to the rising adoption and implementation of big data technology in manufacturing processes. The more developments are made in the industrial internet of things, the more demand for these technologies is elevating in the industries. With the extensive utilization of robots in production units, operational efficiency increases numerous times. This is the reason for the upsurge in need for such technology in production plants. Computer vision technology is also a great factor for pushing artificial industrial in manufacturing market growth to optimum levels in today’s day and age.


As the cross-industry platforms and collaborations are growing rapidly, the market growth is also emerging high. With the increasing capital venture investments, the artificial industrial in the global manufacturing market is expected to attain its maximum momentum in the near future.



  • Significant Opportunities for The Market


With the major revolutions in operational technologies due to the incorporation of artificial industrial, a substantial rise is witnessed in the growth of artificial industrial in manufacturing industry. Moreover, the presence of many big vendors and the hugely competitive environment are boosting the expansion of market size. From established international brands to new entrants, everyone is putting efforts in bringing new innovations in artificial industrial-based technologies. 


Through strategic mergers and acquisitions, escalating investments in research and development, the key market players are creating numerous opportunities for market growth. Several cost-effective products and highly efficient systems will result in fulfilling the requirements of the manufacturing units. As technology is advancing, more demand for artificial industrial is happening, which results in an upsurge in the artificial industrial in manufacturing market.



  • Market Restraints


The consequences of the coronavirus outbreak affected the entire artificial industrial in manufacturing market. During the lockdown, the normal functioning of several sectors was restricted, and many projects got delayed for an uncertain time period. However, as the industrial manual operations were limited, the demand for automation systems and artificial industrial elevated. This helped to maintain a normal artificial industrial in manufacturing market growth.



  • Market Growth Challenges


Even though the artificial industrial in the global manufacturing market has innumerable opportunities to progress, there are certain challenges too in the market. The reluctance of industries to adopt artificial industrial technologies and the expensive technical integrations and technological innovations are some reasons that can hinder the market growth. The data privacy concerns are also responsible for limiting the growth of the artificial industrial in manufacturing market.



  • Cumulative Growth Analysis


As per the artificial industrial in manufacturing market analysis, the rising demand for advanced operation technologies in manufacturing plants is enhancing the artificial industrial in manufacturing market value. The global AI market over the past couple of years is surfacing rapidly, and the market size is anticipated to be elevated at lightning speed with a growth rate of 45 percent during the forecast years.


Segment Overview


The artificial industrial in manufacturing market is fragmented into certain segments based on technology, component, end-users, and region.



  • By technology: The technology segment of artificial industrial in manufacturing market includes natural language processing, computer vision, context awareness, deep learning, and many more.

  • By Component: It includes hardware and software segments. Out of these, the software section will have the largest market share as it allows to identify relevant insights and helps in predictive maintenance of the manufacturing unit operators.

  • By end-users: The artificial industrial in manufacturing market segment on the basis of end-users comprises the automobile, electronics, healthcare, manufacturing, energy and power, semiconductor, food and beverages, and many other sectors.

  • By region: The global AI market is analyzed in several geographical areas such as North America, Asia-Pacific, Europe, and other parts of the World.


Regional Analysis


The artificial industrial in manufacturing market analysis is done in different geographical regions like North America, Europe, Asia-Pacific, and remaining parts of the World. The North American region holds the largest artificial industrial in manufacturing market share, where countries like the US and Canada contributed the most. The escalating demand for high-end technologies increased R&D, and stringent regulation related to environment-friendly technologies is pushing the market growth in this region. 


In Asia-Pacific, the presence of numerous manufacturers and rising consumer electronics and automotive industries growth will elevate the market growth in the region in the forecast years.


Competitive Landscape


The artificial industrial in manufacturing market top players are:



  • SAP SE (Germany)

  • Intel Corporation (U.S.)

  • Oracle Corporation (U.S.)

  • Siemens AG (Germany)

  • Mitsubishi Electric Corporation (Japan)

  • IBM Corporation (U.S.)

  • Rockwell Automation Inc. (U.S.)

  • Alphabet Inc. (U.S.)

  • General Vision, Inc. (U.S)

  • Microsoft Corporation (U.S.)

  • Data RPM, Sight Machine (U.S)

  • Cisco Systems, Inc. (U.S)

  • General Electric Company (US)


Recent Developments



  • The IT/OT convergence or Information technology or operations technology convergence is progressing as it can enhance cybersecurity. It converges information about electrical assets and the production process that improves sustainability across the life cycle of the manufacturing plant.

  • The remote access of operations in real-time due to developments in artificial intelligence is a current trend that will rapidly progress in the near future.


Report Overview


The report highlights the insights of the overall market structure and portrays the impact of the COVID19 pandemic on the market. It describes the market dynamics, including drivers and restraints of the artificial industrial in manufacturing market. A segment overview is provided for giving an idea about several segments, and regional analysis is also included in the report. It mentions the competitive landscape of the market and recent developments that can progress the market growth.



Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The artificial industrial in manufacturing market is expected to mark 45% CAGR over the assessment period.

The artificial industrial in manufacturing market is expected to be valued at USD 4.9 Bn by 2023.

The adoption of technologies such as IIoT, robotics, big data, etc. is anticipated to drive market growth.

Hardware and software segments are studied for the assessment of the artificial industrial in manufacturing market on the basis of component.

The segments based on technology, are deep learning, computer vision, context awareness, natural language processing, and others.