Market Highlights

The take of global artificial intelligence (AI) in the manufacturing market 2020 recorded by Market Research Future uncovers that the market can hit 47.09% to the total assets with USD 14.77 billion by 2024 in the midst of the drawn out effect of COVID-19. The long stretches of development is determined to be from 2019-2024.

Top Grossing Factors

The global artificial intelligence in the manufacturing market has accumulated speed in its development in the midst of COVID-19 leap forward with quickly advancing modern mechanization and IoT, as of now. Man-made reasoning is one of the greatest developing advances lately. Man-made consciousness is aligned with human insight with comparative attributes, for example, understanding, critical thinking, thinking, language, and learning. A combination of AI in the assembling business offers a more secure functional climate, which further helps with upgrading the quality and amount of creation.

One of the fundamental variables, like the remarkable development in advanced information, is spurring the development of artificial intelligence (AI) in the manufacturing market. It is approximated that continuously 2020, around 1.7 megabytes of new information will be made each second. It is further estimated to grow at 40% throughout the following ten years. Such development is ascribed to the raising reception of enormous information advances and IoT gadgets alongside the rise in prominence of cloud stages among endeavors. This multitude of variables are cheering the reception of man-made reasoning arrangements among the producers to handle the information and concentrate noteworthy experiences.

Besides, the calculate of improvement computerization in the assembling business and the ascent popular for huge information reconciliation support the acceleration of man-made consciousness in the assembling market. With this, predominant use of machine vision cameras in assembling applications, like material development, hardware review, quality control, and field administration, is additionally to drive the development of man-made brainpower in the assembling market for the estimate time frame.

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Segmentation:

The study by MRFR also digs some segmentation of the global artificial intelligence in the manufacturing market, which has been done through the component, technology, application, and vertical.

In terms of component segment, the market has included software, hardware, and services. Among these, the hardware segment has included memory, processor, and network. Also, the processor segment has covered the graphical processing unit (GPU), a microprocessor unit (MPU), application-specific integrated circuits (ASICs), and field-programmable gate array (FPGA). In the last segment, the services segment also has a breakdown into support & maintenance and deployment & integration.

In terms of the technology segment, the market has included natural language processing, machine learning & deep learning, computer vision, and context-aware computing.

In terms of the application segment, the market has included supply chain management, predictive maintenance, field services, IT management, robotics, quality control, and others.

In terms of vertical segment, the market has included aerospace & defense, automobile, semiconductor & electronics, energy & power, pharmaceuticals, food & beverage, and others.

Regional Analysis

Market Research Future (MRFR) study has covered some key countries in the regional analysis of artificial intelligence (AI) in the manufacturing market—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America in the rest of the world.

Artificial intelligence in the manufacturing market is currently led by the Asia-Pacific region as the primary economic countries such as India, China, the Philippines, and South Korea are the major manufacturing centers of electronics, semiconductors, pharmaceuticals, and energy & power. Further, the escalating adoption of robots in manufacturing processes is anticipated to aid the region is leading the market throughout the forecast period.

The region of North America is the second highest contributor to the artificial intelligence market. The US is the first adopter of new technologies for applications such as process planning, factory automation, production scheduling, and engineering design.

Artificial intelligence (AI) in the manufacturing market in Europe is also estimated to gain high momentum during the projected period owing to the mounting adoption of industry 4.0 and robotics by the automotive and aerospace industry.

Top Market Players

Market Research Future has well-known some of the key players in the global artificial intelligence (AI) in the manufacturing market are IBM Corporation, Nvidia Corporation, Intel, Inc., General Electric company, Siemens AG, Microsoft Corporation, Google, Inc., Bosch, Amazon Web Services, Cisco Systems, Rockwell Automation, Foxconn, SAP SE, and others.

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Artificial Intelligence (AI) in Manufacturing Market: by Component (Software, Service, Hardware (Network, Processor (ASIC, FPGA, GPU)), by Technology (Deep Learning, NLP), by Application (Robot, Quality Control), by Vertical (Automobile, Pharmaceutical) — Forecast till 2027

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