Artificial Intelligence (AI) in Manufacturing Market Research and Forecast 2019-2025

Global AI (Artificial Intelligence) in manufacturing market is estimated to grow at a CAGR of 33.5% during the forecast period (2019-2025). The growth of the market is attributed to increasing R&D, owing to extensive funding by the governments across the globe and major market players including Google, Nvidia, and Intel. These players have been investing significantly in a wide range of innovative technologies such as robotic automation, autonomous vehicles, assistance technology, and quality control and predictive analysis. For instance, Siemen’s robotic prototype automatically reads and follows CAD (Computer-Aided Design) instructions to build the products without programming and is used in shop floor work.

A full report of Global Artificial Intelligence (AI) in Manufacturing Market is available at: https://www.omrglobal.com/industry-reports/ai-in-manufacturing-market

A significant rise in partnerships for AI technology has been witnessed over the years. For instance, in May 2019, Presenso Ltd. collaborated with Siemens AG for AI and machine learning for predictive maintenance. Presenso will offer its real-time industrial analytics solution for Siemens remote diagnostic services portfolio. This developed the synergy between data knowledge and OEM (original equipment manufacturer) that provided better outcomes to Siemens’ customers. This collaboration will boost the industry as it provides solutions that are cost-efficient and can be deployed quickly. Such partnerships pave the way for new developments in AI technologies, which in turn, will offer significant opportunity for the expansion of application areas of AI technology in the manufacturing industry.

To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/ai-in-manufacturing-market

AI finds significant application in predictive maintenance during the manufacturing process. The application of AI in predictive maintenance comprises the analyzing attributes of components’ along with production parameters at different timeframes, with which the system gains insights into the prediction of a critical failure in the manufacturing process. As per the US Department of Energy, the predictive maintenance is quite cost-effective in the manufacturing process that can yield exceptional results, which includes a tenfold increase in ROI (Return on Investment), 70%-75% decrease of breakdowns, 25%-30% reduction in maintenance costs, and 35%-45% reduction in downtime. AI predictive maintenance enables manufacturers to save many resources by reducing downtime to a minimum, thus encourages the demand in manufacturing that propels the market growth.

Current Market Trends Covered in the Global AI in Manufacturing Market Report

• Based on the application, predictive maintenance application is estimated to hold a dominating market share during the forecast period.
• Based on the end-user, automotive held the largest market share in the global AI in manufacturing market in 2018.
• North America is estimated to dominate the global AI in manufacturing industry during the forecast period.

Global AI in Manufacturing Market Segmentation

By Application

• Quality Control & Reclamation
• Predictive Maintenance
• Supply Network Optimization
• Others

By End-User

• Automobile
• Pharmaceutical
• Heavy Metal & Machine Manufacturing
• Others

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/ai-in-manufacturing-market

Global AI in Manufacturing Market – Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Arimo, LLC
• Automation Anywhere, Inc.
• C3 IoT, Inc.
• Canvass Analytics
• Fero Labs Inc.
• IBM Corp.
• Intel Corp.
• KNIME AG
• Landing AI
• MachineMetrics, Inc.
• Microsoft Corp.
• Noodle Analytics, Inc.
• NVIDIA Corp.
• Oqton, Inc.
• Presenso Ltd.
• Rockwell Automation, Inc.
• SAS Institute Inc.
• Seebo Interactive Ltd.
• Siemens AG
• Sight Machine, Inc.
• SparkBeyond
• Tavant Technologies, Inc.
• Uptake Technologies Inc.
• Veo Robotics, Inc.

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

For More Information, Visit https://www.omrglobal.com

This release was published on openPR.