Meticulous Research®—a leading global market research company, published a research report titled, ‘AI in Manufacturing Market by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Quality Management, Supply Chain Optimization), End-use Industry - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the AI in manufacturing market is projected to reach $29.1 billion by 2030, at a CAGR of 42.1% during the forecast period.The growth of the AI in manufacturing market is driven by the advent of Industry 4.0, increasing volume of complex datasets, and the rising adoption of industrial IoT and automation. However, high procurement & operating cost and a lack of infrastructure may restrain the market's growth.
The growing scale of manufacturing operations in emerging economies, rising acceptance of modern manufacturing techniques, and increasing deployment of automation technologies are expected to offer significant growth opportunities for the AI in manufacturing market. However, privacy and data protection concerns may hinder the growth of this market. Furthermore, increasing demand for factory automation, rising adoption of 5G technology, and growing use of computer vision in manufacturing applications are major trends in the AI in manufacturing market.
Meticulous Research® has segmented this market based on component, technology, application, end-use industry, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Scope of the Report:
AI in Manufacturing Market Assessment, by Component
· Hardware
o Processors
o Networking
o Memory
· Software
o AI Platforms
o AI Solutions
· Services
o Deployment & Integration
o Support & Maintenance
AI in Manufacturing Market Assessment, by Technology
· Machine Learning (ML)
· Natural Language Processing (NLP)
· Context-Aware Computing
· Computer Vision
· Speech and Voice Recognition
AI in Manufacturing Market Assessment, by Application
· Field Services
· Quality Management
· Cybersecurity
· Robotics & Factory Automation
· Predictive Maintenance & Machinery Inspection
· Material Handling
· Production Planning
· Safety Planning
· Energy management
· Supply Chain Optimization
AI in Manufacturing Market Assessment, by End-use Industry
· Semiconductor & Electronics
· Energy & Power
· Pharmaceuticals
· Medical Devices
· Automotive
· Heavy Metals & Machine Manufacturing
· Fast-moving Consumer Goods
· Aerospace and Defense
· Other End-use Industries
AI in Manufacturing Market Assessment, by Geography
· North America
o U.S.
o Canada
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Netherlands
o Russia
o Turkey
o Ireland
o Rest of Europe
· Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia & New Zealand
o Indonesia
o Thailand
o Taiwan
o Vietnam
o Rest of Asia-Pacific
· Latin America
o Mexico
o Brazil
o Rest of Latin America
· Middle East & Africa
o UAE
o Israel
o Rest of Middle East & Africa
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Based on component, in 2023, the hardware segment is expected to account for the largest share of the AI in manufacturing market. The large market share of this segment is attributed to the rising demand for robust and cost-effective servers, storage, and networking devices among business enterprises to enhance operational efficiency.
Based on technology, in 2023, the machine learning segment is expected to account for the largest share of the AI in manufacturing market. The large market share of this segment is attributed to the growing demand for AI-based intelligent solutions, the rising need for predictive maintenance & machinery inspection, material handling, and production planning, and increasing unstructured data generated by the manufacturing industry.
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Based on application, in 2023, the predictive maintenance & machinery inspection segment is expected to account for the largest share of the AI in manufacturing market. The large market share of this segment is attributed to the increasing demand for self-monitoring, improving production capacity, increasing use of emerging technologies to gain valuable insights, increasing demand to reduce costs related to operating heavy equipment, growing need to reduce maintenance cost and downtime and increasing demand for real-time plant monitoring in manufacturing industries.
Based on end-use industry, in 2023, the automotive segment is expected to account for the largest share of the AI in manufacturing market. The large market share of this segment is attributed to the growing demand for autonomous vehicles, advanced automotive solutions for quality management, and the need for predictive maintenance & machinery inspection solutions.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the AI in manufacturing market. The large share of this market is attributed to the increasing investment by technology leaders, growing AI spending, increasing digitization, and favorable government initiatives to promote the adoption of advanced technologies. Besides, the presence of a large number of manufacturing companies in China, South Korea, and Japan and the strong presence of automobile and electronics, and semiconductor companies are also encouraging the fast growth of this market.
Key Players
The key players operating in the AI in manufacturing market are Alphabet, Inc. (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), General Electric Company (U.S.), SAP SE (Germany), Robert Bosch GmbH (Germany), Cisco Systems, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Advanced Micro Devices, Inc. (U.S.), and Sight Machine, Inc. (U.S.).
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Key questions answered in the report-
· Which are the high-growth market segments in terms of component, technology, application, end-use industry, and geography?
· What is the historical market for AI in manufacturing across the globe?
· What are the market forecasts and estimates for the period 2023–2030?
· What are the major drivers, restraints, and opportunities in the AI in manufacturing market?
· Which are the major players in AI in manufacturing market, and what market share do they hold?
· How is the competitive landscape?
· What are the recent developments in the AI in manufacturing market?
· What are the different strategies adopted by the major players in this market?
· What are the geographic trends and high-growth countries?
· Which are the local emerging players in the AI in manufacturing market, and how do they compete with the other players?
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Industry InsightThe take of AI in 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 AI in 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 AI in Manufacturing Market.
Such growth is attributed to the escalating adoption of big data technologies and IoT devices along with the ascend in popularity of cloud platforms among enterprises.
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 Manufacturing Market.
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.
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.
