Artificial Intelligence in Manufacturing Market Research Report
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.
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Artificial Intelligence in Manufacturing Market’s leading
Manufacturers:
·
NVIDIA Corporation
·
Intel Corporation
·
IBM
·
Siemens
·
General Electric
·
Google
·
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
o
Processor
§
MPU
§
GPU
§
FPGA
§
Asic
o
Memory
o
Network
·
Software
o
AI
Solutions
§
On-Premises
§
Cloud
o
AI
Platform
§
Machine
Learning Framework
§
Application Program Interface (API)
·
Services
o
Deployment & Integration
o
Support
& Maintenance
Segmentation
by Technology:
·
Machine Learning
o
Deep
Learning
o
Supervised Learning
o
Reinforcement Learning
o
Unsupervised Learning
o
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
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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