ID: MRFR/ICT/6276-HCR | February 2021 | Region: Global | 100 pages
Industry 4.0 or smart maintenance, predictive maintenance, testing, and quality optimization, supply chain communication, and yield enhancement are some of the use cases of artificial intelligence in manufacturing. Artificial intelligence and machine learning are benefitting industry 4.0 in automated production and monitoring process in smart factories, advanced digitized networks, automation of quality and inspection process, decentralized manufacturing system, and others.
Artificial Intelligence (AI) in Manufacturing Market Recent Developments:
AI in Manufacturing Market Segmentation:
The global artificial intelligence (AI) in manufacturing market has been segmented into component, technology, application, vertical, and region.
AI in Manufacturing Market Regional Analysis:
Market Research Future (MRFR) study has covered the following countries in the regional analysis of artificial intelligence (AI) in the manufacturing market—the US, Canada, and Mexico in North America; Germany, the UK, France, Russia, Spain, the Netherlands, and Italy in Europe; China, Japan, India, Singapore, Australia, the Philippines, and South Korea in Asia-Pacific; and the Middle East & Africa and South America in the rest of the world.
Artificial intelligence in manufacturing market is currently dominated by Asia-Pacific region as the primary economic countries such as China, India, South Korea, and the Philippines are the major manufacturing centers of semiconductors, electronics, energy & power, and pharmaceuticals. Further, increasing adoption of robots in manufacturing processes is expected to aid the region in dominating the Artificial Intelligence (AI) in Manufacturing Market throughout the forecast period.
North America is the second highest contributor in artificial intelligence market. The US is the early adopter of new technologies for application such as factory automation, process planning, engineering design, and production scheduling among others.
Artificial intelligence (AI) in the manufacturing market in Europe is projected to gain high momentum during the forecast period due to increasing adoption of industry 4.0 and robotics by automotive, and aerospace industry.
Global Artificial Intelligence (AI) in Manufacturing Market, 2018–2024 (USD Billion)
Source: Company websites, Annual Reports, Secondary research, Press Releases, Paid Database, Expert interviews, White papers, Journals, Case Studies, MRFR Analysis
AI in manufacturing Market Key Players:
Market Research Future has identified following key players in the market—Nvidia Corporation, Intel, Inc., IBM Corporation, Siemens AG, General Electric company, Google, Inc., Microsoft Corporation, Amazon Web Services, Bosch, Rockwell Automation, Cisco Systems, SAP SE, Foxconn, and others.
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Component, by Technology|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Nvidia Corporation, Intel, Inc., IBM Corporation, Siemens AG, General Electric company, Google, Inc., Microsoft Corporation, Amazon Web Services, Bosch, Rockwell Automation, Cisco Systems, SAP SE, Foxconn|
|Key Market Opportunities||The developing market of big data technology and increasing application of AI for business intelligence are some factors bringing fruitful opportunities for the market in the coming years.|
|Key Market Drivers||Developing market of industry 4.0 and smart factories, increasing adoption of automation by SMEs as well as large enterprises, and development in advanced technologies such as artificial intelligence, machine learning & deep learning are some of the prime factors driving the growth of the market.|
Frequently Asked Questions (FAQ) :
The market achieved a valuation of 1.59 billion in 2018.
The market will be recording 47.09% CAGR for its growth.
The market will be witnessing its growth during the years of 2019–2024
The developing market of big data technology and snowballing application of AI for business intelligence are factors for the market’s growth in the coming years.
The market is currently led by the Asia-Pacific region because of economic countries such as China, India, South Korea, and the Philippines being main centers of semiconductors, electronics, energy & power, and pharmaceuticals.
An amalgamation of AI in the manufacturing industry offers a safer operational environment, which further assists in enhancing the quality and quantity of production.
Artificial intelligence is benefitting industry 4.0 in automated production and monitoring process in smart factories, advanced digitized networks, automation of quality and inspection process, decentralized manufacturing system
advanced technologies such as artificial intelligence, machine learning & deep learning