The Artificial Intelligence in Manufacturing Market is expected to grow from USD 1.1 billion in 2020 to USD 16.7 billion by 2026 at a CAGR of 57.2% from 2020 to 2026.
Artificial Intelligence (AI), is also called as machine intelligence, refers to a broad range of branch of computer science concerned with building smart machines which have the ability to carry out tasks which need human intelligence. Artificial Intelligence technology is creating its way into the manufacturing sector and several machine-learning technologies and pattern-recognition software are being utilized to change the manufacturing process. Machines are installed with cameras linked to the AI-based software to identify even the smallest defects. The global artificial intelligence in manufacturing market is anticipated to witness a robust growth over the forecast period owing to the rising venture capital investments and the enormous availability of big data across the world. Several artificial intelligence technologies are being broadly deployed by manufacturers in various industries such as automotive, pharmaceuticals, food and beverages and energy & power. In addition, the robust demand for automation, along with the rapidly developing industries and industrial IoT is promoting the manufacturers to opt for various AI-enabled technologies to capture the shifting demand of the target audience. The increasing demand for hardware platforms and rising needs for high-computing processors to run a wide array of AI software will further foster the demand of the market. Furthermore, the huge demand for machine learning technologies and computer vision to survey different machines, followed by the propelling the adoption of AI technologies in factories to minimize machine downtime, increase productivity and curb the operational cost will promote the end-users to opt for various AI technologies in the manufacturing process. However, the heavy cost incurred in implementing this technology and great threat to human dignity is projected to restrain the market growth.
The emergence of the COVID-19 crisis will have a positive influence on the market. The rising focus on staying at homes and maintaining social distance is propelling the manufacturers towards the adoption for AI technologies to bring automation in the manufacturing and reduce the physical contact among the workers, thereby avoiding the possibilities of the spread of the coronavirus.
The global Artificial Intelligence in Manufacturing Market is segregated on the basis of Deployment as On-Premise and Cloud. Based on Technology the global Artificial Intelligence in Manufacturing Market is segmented in Machine Learning (ML), Computer Vision, Context Awareness and Natural Language Processing (NLP). Based on Application the global Artificial Intelligence in Manufacturing Market is segmented in Material Movement, Predictive Maintenance & Machinery Inspection, Production Planning, Field Services and Quality Control & Reclamation. Based on Industries the global Artificial Intelligence in Manufacturing Market is segmented in Semiconductor & Electronics, Energy & Power, Pharmaceutical, Automobile, Heavy Metal & Machine Manufacturing and Others.
The global Artificial Intelligence in Manufacturing Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence in Manufacturing Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Nvidia, Intel, IBM, Siemens, General Electric (GE) Company and others are among the major players in the global Artificial Intelligence in Manufacturing Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Artificial Intelligence in Manufacturing Market has been segmented as below:
Artificial Intelligence in Manufacturing Market, By Deployment
Artificial Intelligence in Manufacturing Market, By Technology
Artificial Intelligence in Manufacturing Market, By Application
Artificial Intelligence in Manufacturing Market, By Industries
Artificial Intelligence in Manufacturing Market, By Region
Artificial Intelligence in Manufacturing Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Artificial Intelligence in Manufacturing Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence in Manufacturing Market share. Major industry players with significant revenue share include Nvidia, Intel, IBM, Siemens, General Electric (GE) Company, Google and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Artificial Intelligence in Manufacturing Market, By Deployment
5.1. Key Points
5.2. On-Premise
5.3. Cloud
6. Artificial Intelligence in Manufacturing Market, By Technology
6.1. Key Points
6.2. Machine Learning ( ML)
6.3. Computer Vision
6.4. Context Awareness
6.5. Natural Language Processing(NLP)
7. Artificial Intelligence in Manufacturing Market, By Application
7.1. Key Points
7.2. Material Movement
7.3. Predictive Maintenance & Machinery Inspection
7.4. Production Planning
7.5. Field Services
7.6. Quality Control & Reclamation
8. Artificial Intelligence in Manufacturing Market, By Industries
8.1. Key Points
8.2. Semiconductor & Electronics
8.3. Energy & Power
8.4. Pharmaceutical
8.5. Automobile
8.6. Heavy Metal & Machine Manufacturing
8.7. Others
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- Artificial Intelligence in Manufacturing Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Nvidia
10.2. Intel
10.3. IBM
10.4. Siemens
10.5. General Electric (GE) Company
10.6. Google
10.7. Microsoft
10.8. Micron Technology
10.9. Amazon Web Services (AWS)
10.10.Sight Machine
10.11. Progress Software Corporation (Datarpm)
10.12. Aibrain
10.13. General Vision
10.14. Rockwell Automation
10.15. Cisco Systems
10.16. Mitsubishi Electric
10.17. Oracle
10.18.SAP
10.19. Vicarious
10.20. Ubtech Robotics
10.21. Alphabet Inc.
10.22. General Vision Inc.
Artificial Intelligence in Manufacturing Market, By Deployment
Artificial Intelligence in Manufacturing Market, By Technology
Artificial Intelligence in Manufacturing Market, By Application
Artificial Intelligence in Manufacturing Market, By Industries
Artificial Intelligence in Manufacturing Market, By Company