Global Artificial Intelligence in Manufacturing Market Overview:
Artificial intelligence technology is one of the trending updates within the producing sector. By incorporating computer science with machine-learning technology and pattern-recognition code, factories may well be reworked within the close to future. computer science helps in automating the producing business and leads to reaching a high level of accuracy and productivity level that's even on the far side of human ability. AI can facilitate in performing manufacturing, quality control, shortening style time, and reducing materials waste, up production reprocess, performing predictive maintenance.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Updating the Interoperability and Increasing Efficiency of Artificial Intelligence
Market Growth Drivers:
Rising Adoption of AI-Based Technology in The Manufacturing Sector and Increasing Penetration of Cutting Edge Technologies with respect to Automation like IoT and Machine Learning
Challenges:
Requirement of Skilled Personnel for Inspection and Operation
Restraints:
Reluctance among Manufacturers to Adopt AI-Based Technologies
Opportunities:
Rising Government investment in Wireless Infrastructure and Communication with 5G technology and Increasing Penetration of Smart Devices in Manufacturing Sector
Competitive Landscape:
Some of the key players profiled in the report are NVIDIA Corporation (United States), IBM Corporation (United States), Alphabet Inc. (Google) (United States), Microsoft Corporation (United States), Intel Corporation (United States), Siemens AG (Germany), General Electric Company (United States), Mitsubishi Electric Corporation (Japan), Cisco Systems Inc., (United States), SAP SE (Germany) and Rockwell Automation Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like General Vision Inc. (United States), Sight Machine (United States), Progress Software Corporation (United States) and Micron Technology Inc., (United States). Considering Market by Technology, the sub-segment i.e. Machine Learning will boost the Artificial Intelligence in Manufacturing market. Considering Market by Industry Verticals, the sub-segment i.e. Automobile will boost the Artificial Intelligence in Manufacturing market. Considering Market by Offering, the sub-segment i.e. Hardware will boost the Artificial Intelligence in Manufacturing market.
Latest Market Insights:
In January 2020, Apple announced that the company had acquired an edge-based AI startup — Xnor.ai. This acquisition employs machine learning and image recognition tools for delivering AI capabilities on low-resource edge devices as edge-based computing brings back the data from the cloud to the device, improving the response times.
In 2020, NVIDIA launched 2 powerful products for its EGX Edge AI platform — the EGX A100 for larger industrial ready-made servers and also the small EGX Jetson Xavier NX for micro-edge servers — delivering superior, secure AI process at the sting. With the NVIDIA EGX Edge AI platform, hospitals, stores, farms, and factories will perform data processing and protection of huge amounts of knowledge streaming from trillions of edge sensors.
What Can be Explored with the Artificial Intelligence in Manufacturing Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Artificial Intelligence in Manufacturing Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Artificial Intelligence in Manufacturing
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Artificial Intelligence in Manufacturing market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Artificial Intelligence in Manufacturing market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Artificial Intelligence in Manufacturing Provider, Software Developer, Research Institutes, End-User Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.