Rising Demand for Autonomous Laser Technologies Drives the AI in Manufacturing Market
The artificial intelligence in manufacturing market is likely to gain significant revenue growth. Market Research Future (MRFR) states that the global artificial intelligence (AI) in manufacturing market is estimated to garner approximately USD 22.6 billion by 2030, growing at a 48.20% CAGR throughout the review period (2022-2030).
Artificial intelligence in manufacturing helps boost the data value, employing technology and human insight. Most businesses today have employed AI-based solutions to boost agility to respond to changing conditions in real time for greater safety, profitability, and sustainability. Technology providers strive to purpose-built AI solutions for industrial application requirements.
AI-based solutions integrate AI technology and machine-learning capabilities to optimize autonomous and semi-autonomous processes. These industrial AI solutions enable users to detect current performance issues and predict future ones, minimizing the risk of failure of critical assets and maximizing operational performance. Using AI in manufacturing ensures improved detection of performance issues, optimization of processes, and smarter decisions.
Robotics, digitalization, and AI are considered the next stage of industrialization. Artificial intelligence in manufacturing facilitates time and cost-saving in many time-consuming manual tasks, raises efficiency, heightens supply chain visibility, optimizes inventory management, and improves product quality by integrating information technology (IT) and operational technology (OT) systems.
AI in Manufacturing Market Drivers
Artificial intelligence in manufacturing is being termed a new intelligence revolution. The widespread popularity and government support for robotics would allow the market to progress smoothly in the next few years. Factors such as the proliferation of automation across manufacturing sectors and the rising demand for advanced production & manufacturing processes worldwide drive market growth.
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Moreover, growing AI applications in end-user industries such as automobile, electronics, healthcare, manufacturing, energy & power, semiconductor, food & beverages boost the market size. Additional factors bolstering market revenues include the increasing number of manufacturers leveraging AI to improve operations, launch new products, customize designs, and plan their future financials.
Industry InsightThe take of global artificial intelligence (AI) in the manufacturing market growth 2020 recorded by Market Research Future reveals that the market can hit 47.09% to the net worth with USD 14.77 billion by 2024 amid the long-term impact of COVID-19.
The years of growth is calculated to be from 2019-2024.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7745Top Grossing FactorsThe global artificial intelligence in the manufacturing market has gathered pace in its growth amid COVID-19 breakthrough with rapidly evolving industrial automation and IoT, at present.
Artificial intelligence is allied with human intelligence with similar characteristics such as understanding, problem-solving, reasoning, language, and learning.
An amalgamation of AI in the manufacturing industry offers a safer operational environment, which further assists in enhancing the quality and quantity of production.One of the main factors, such as the exponential growth in digital data, is motivating the growth of artificial intelligence (AI) in the manufacturing market.
All these factors are cheering the adoption of artificial intelligence solutions among the manufacturers to process the data and extract actionable insights.Furthermore, the factor of enhancement in automation in the manufacturing industry and the rise in demand for big data integration boost the escalation of artificial intelligence in the manufacturing market.
With this, prevalent usage of machine vision cameras in manufacturing applications, such as material movement, machinery inspection, quality control, and field service, is also to drive the growth of artificial intelligence in the manufacturing market for the forecast period.Segmentation of Market: Artificial Intelligence in ManufacturingThe 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.
Market AnalysisThe global artificial intelligence manufacturing market is poised to touch USD 14.77 billion at a notable 47.09% CAGR over the predicted years (2019-2024).
Right from better-designed products to significant cuts in unplanned downtime, manufacturers are using analytics to data that is AI-powered to improve the safety of employees, product quality, and efficiency.
On the contrary, scarcity of skilled expertise, high integrating price of AI-based solutions, privacy concerns, and data security are factors that may deter artificial intelligence in manufacturing market growth over the predicted years.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7745Key Players:Artificial Intelligence (AI) in manufacturing is expected to be a growing market in the coming years owing to the presence of numerous large players active in the regional market.
The services segment is again segmented into support and maintenance and deployment and integration.
Of these, machine learning will domineer the market over the predicted years.Based on application, the artificial intelligence in manufacturing market is segmented into robotics, quality control, field services, IT management, supply chain management, predictive maintenance, and others.
Of these, the automobile will have a significant share in the market over the predicted years.Regional AnalysisBased on region, the artificial intelligence in manufacturing market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe, and North America.
Industry InsightThe take of global artificial intelligence (AI) in the manufacturing market 2020 recorded by Market Research Future reveals that the market can hit 47.09% to the net worth with USD 14.77 billion by 2024 amid the long-term impact of COVID-19.
The years of growth is calculated to be from 2019-2024.Top Grossing FactorsThe global artificial intelligence in the manufacturing market has gathered pace in its growth amid COVID-19 breakthrough with rapidly evolving industrial automation and IoT, at present.
Artificial intelligence is allied with human intelligence with similar characteristics such as understanding, problem-solving, reasoning, language, and learning.
All these factors are cheering the adoption of artificial intelligence solutions among the manufacturers to process the data and extract actionable insights.Furthermore, the factor of enhancement in automation in the manufacturing industry and the rise in demand for big data integration boost the escalation of artificial intelligence in the manufacturing market.
With this, prevalent usage of machine vision cameras in manufacturing applications, such as material movement, machinery inspection, quality control, and field service, is also to drive the growth of artificial intelligence in the manufacturing market for the forecast period.Segmentation of Market: Artificial Intelligence in ManufacturingThe 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.
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.Complete Report Details @ https://www.marketresearchfuture.com/reports/artificial-intelligence-ai-in-manufacturing-market-7745Regional AnalysisMarket 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.
