Global Artificial Intelligence (AI) in Manufacturing Market

Global Artificial Intelligence (AI) in Manufacturing Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching nearly US$ 18.5 Bn.

Global Artificial Intelligence (AI) in Manufacturing Market

The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

Artificial Intelligence is now transforming the manufacturing industry. The ongoing maintenance of manufacturing equipment and production line machinery results in massive expenditures because of unplanned downtime costs.

Global Artificial Intelligence (AI) in Manufacturing Market dynamics are thoroughly studied and explained in the MMR report, which helps the reader to understand developing market trends, drivers, restraints, opportunities, and challenges at the global and regional level for the Artificial Intelligence (AI) in Manufacturing Market. The exponential growth in digital data is fueling the growth of AI in the manufacturing market globally. It is estimated that by 2021, approximately 1.8 megabytes of new data will be generated every second. It is further projected to grow at an annual growth rate of 40% over the next 8-10 years. This growth is credited to the growing adoption of big data technologies and IoT devices along with the increase in popularity of cloud platforms among enterprises.

However, the adoption of technology in the manufacturing industry is still in the emerging stage because of the presence of many challenges in the implementation of AI technology in the industries. The complex nature of the industrial data and lack of skilled IT workforce in the industrial plants is hampering the adoption of AI in the manufacturing market globally.

The report provides an in-depth segment analysis of the Global Artificial Intelligence (AI) in Manufacturing Market, thereby providing valuable insights at the macro as well as micro levels. Based on offering, the hardware segment was valued at US$ XX.24 Mn in 2019 and is expected to reach at US$ XX.20 Mn by 2027 at a CAGR of XX.34% over the forecast period. This is because of the growing integration of AI solutions across various industries.

By industry, the automobile sector commanded the largest XX% share of the global AI in manufacturing market in 2019. The large share of automobile segment is primarily attributed to the increasing demand for autonomous vehicles, adoption of the advanced automotive solutions for quality management, and necessity of predictive maintenance & machinery inspection solutions.

The report offers a brief analysis of the major regions in the AI in manufacturing market, namely, Europe, North America, Asia-Pacific, Latin America, and the MEA. The Asia Pacific is leading in artificial intelligence (AI) in manufacturing landscape with over 46% market share in 2019. The market growth is attributed to the presence of highly advanced manufacturing facilities in economies including China, Japan, and South Korea. The widespread adoption of industry 4.0 technologies is also helping the use of AI solutions.

The global market for AI in manufacturing is dominated by large players such as Intel and Nvidia. These companies are spending heavily on the development of high-performance enterprise solutions. The start-up’s players operating in the market are conducting fundraising activities to scale their processes across the foreign markets. Such as, in Aug 2018, Canvass Analytics raised over US$ 5 MN from Gradient Ventures to pursue aggressive sales strategies to expand its market in APAC, Europe, and North American regions.

The objective of the report is to present a comprehensive analysis of the Global Artificial Intelligence (AI) in Manufacturing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Artificial Intelligence (AI) in Manufacturing Market dynamics, structure by analyzing the market segments and projects the Global Artificial Intelligence (AI) in Manufacturing Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Artificial Intelligence (AI) in Manufacturing Market make the report investor’s guide.

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Scope of the Global Artificial Intelligence (AI) in Manufacturing Market

Global Artificial Intelligence (AI) in Manufacturing Market, by Offering

• Hardware
• Software
• Services
Global Artificial Intelligence (AI) in Manufacturing Market, by Technology

• Machine Learning
• Natural Language Processing
• Context-Aware Computing
• Computer Vision
Global Artificial Intelligence (AI) in Manufacturing Market, by Application

• Predictive Maintenance & Machinery Inspection
• Material Movement
• Production Planning
• Field Services
• Quality Control
• Cybersecurity
• Industrial Robots
• Reclamation
Global Artificial Intelligence (AI) in Manufacturing Market, by Industry

• Energy & Power
• Pharmaceuticals
• Heavy Metals & Machinery Manufacturing
• Semiconductors & Electronics
• Food & Beverages
• Others
Global Artificial Intelligence (AI) in Manufacturing Market, by Region

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Key players operating in Global Artificial Intelligence (AI) in Manufacturing Market

• Nvidia
• Intel
• IBM
• Siemens
• General Electric (GE) Company
• Google
• Microsoft
• Micron Technology
• Amazon Web Services (AWS)
• Sight Machine
• Progress Software Corporation (Datarpm)
• Aibrain
• General Vision
• Rockwell Automation
• Cisco Systems
• Mitsubishi Electric
• Oracle
• SAP
• Vicarious
• Ubtech Robotics

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