Artificial Intelligence in Manufacturing Market by Segmentation: Technology (Deep Learning, Computer Vision, Context Awareness), Component (Software, Hardware), Application (Field Services, Reclamation, Quality Control, Material Movement, Production Plann

The global artificial intelligence in manufacturing market size was $513.6 million in 2017 and is projected to reach $15,273.7 million in 2025, growing at a CAGR of 55.2%.from 2017 to 2025.

Artificial intelligence has been one of the fastest-growing technologies in recent years. AI is associated with human intelligence with alike characteristics such as language understanding, reasoning, learning, problem-solving, and others. Manufacturers in the market witness massive underlying intellectual challenges in the development and revision of such a technology.

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The practice of using AI in the supply chain of manufacturing firms can estimate demand patterns for products across time, socioeconomic segments, and geographical markets. Moreover, major brands are making AI a crucial part of their system to improve customer satisfaction. For instance, GE launched Brilliant Manufacturing Suite to allow customers to realize their own vision of a Brilliant Factory. Furthermore, with the use of automation and big data in the manufacturing industry, risks during manufacturing processes are reduced and customers can get answers on an immediate basis, thereby enhancing the customer experience. However, in the coming future, several human jobs are expected to be substituted by AI-based technology systems globally. According to researchers of the Oxford Martin School, around 47% of the total U.S. employment is at risk owing to the influence of advances in AI. Thus, AI possesses a great threat to humanity, thereby hampering the growth of artificial intelligence in manufacturing market.

The global artificial intelligence in manufacturing market is segmented based on deployment, technology, application, industry, and region. Based on deployment, the market is bifurcated into cloud and On-Premise. The On-Premise segment is anticipated to dominate the global artificial intelligence in manufacturing market throughout the study period. By technology, the market is divided into machine learning, computer vision, context awareness, and natural language processing. The computer vision segment is anticipated to dominate the global artificial intelligence in manufacturing market throughout the study period. Based on application, the market is categorized into material movement, predictive maintenance, and machinery inspection, production planning, field services, and quality control & reclamation. The predictive maintenance and machinery inspection segment is projected to dominate the global artificial intelligence in manufacturing market in the near future. Based on industry, the market is classified into semiconductor & electronics, energy & power, pharmaceuticals, automobile, heavy metals & machine manufacturing, and others. The automobile segment is projected to dominate the global artificial intelligence in manufacturing market in the near future.

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Artificial intelligence is one of the technologies that give manufacturers the ability to keep up with the new pace of business. There are several benefits of artificial intelligence in the manufacturing industry that includes - increase production capacity, provides more relevant data for better management, improves preventative maintenance, enables condition monitoring processes, improved product and service quality, and increasing production.

Sample Infographics:

Market Dynamics:

1. Market Drivers
1.1 Increasing operational efficiency of manufacturing plants
1.2 Adoption of industrial IoT and big data technology in manufacturing
1.3 Rising usage of robotics and computer vision technology in manufacturing
1.4 Growing opportunities for AI based technology in developing countries

2. Market Restraints
2.1 Concerns for data privacy
2.2 Poor adoption of AI-based technologies by manufacturers

Market Segmentation:

The Global Artificial Intelligence in Manufacturing Market is segmented on the technology, component, application, vertical, and region.

1. Technology:
1.1 Natural Language Processing
1.2 Deep Learning
1.3 Computer Vision
1.4 Context Awareness

2. By Component:
2.1 Software
2.2 Hardware

3. By Application:
3.1 Field Services
3.2 Reclamation
3.3 Quality Control
3.4 Material Movement
3.5 Predictive Maintenance and Machinery Inspection
3.6 Production Planning

4. By Vertical:
4.1 Food and Beverages
4.2 Pharmaceuticals
4.3 Automobile
4.4 Semiconductor and Electronics
4.5 Energy and Power
4.6 Heavy Metals and Machine Manufacturing
4.7 Others

5. By Region:
5.1 North America U.S., Canada, Mexico
5.2 Europe Germany, UK, France, Rest of Europe
5.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
5.4 Latin America Brazil, Argentina, Rest of Latin America
5.5 Middle East & Africa

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Competitive Landscape:

The major players in the market are as follows:

1. IBM Corporation
2. SAP SE
3. Nvidia Corporation
4. Siemens AG
5. Microsoft Corporation
6. Datarpm
7. General Vision, Inc.
8. Cisco Systems, Inc.
9. Oracle Corporation
10. Intel Corporation
11. Alphabet Inc.
12. General Electric GE Company
13. Sight Machine
14. Rockwell Automation Inc.
15. Mitsubishi Electric Corporation

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF Planet Market Reports:

Research study on the Global Artificial Intelligence in Manufacturing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.

The market data was analyzed and forecasted using market statistical and coherent models. Also, market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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