Allied Market Research published a report, titled, “Artificial Intelligence in Manufacturing Market by Deployment (Cloud and On-Premise), Technology (Machine Learning, Computer Vision, Context Awareness, and Natural Language Processing), Application (Material Movement, Predictive Maintenance & Machinery Inspection, Production Planning, Field Service, and Quality Control & Reclamation), and Industry (Semiconductor & Electronics, Energy & Power, Pharmaceutical, Automobile, Heavy Metal & Machine Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025.” As per the report, the global AI in manufacturing market garnered $513.6 million in 2017 and would generate $15,273.7 million by 2025, growing at a CAGR of 55.2% from 2018 to 2025.
The advent of automation in manufacturing sector and increase in integration of big data facilitate the growth of the AI in the manufacturing industry. In addition, the rise in usage of machine vision cameras for applications including machinery inspection, material movement, field service, and quality control is expected to supplement the market growth. On the other hand, high investment cost and lack of awareness about the AI technology are factors expected to hinder the growth in the market.
The report offers a detailed segmentation of the global AI in manufacturing market on the basis of deployment, application, technology, industry, and geography. Based on technology, the report bifurcates the market into machine learning (ML), context awareness, computer vision, and natural language processing (NLP). Moreover, the computer vision segment would experience the highest growth during the forecast period.
The report bifurcates the industry segment into energy and power, semiconductor and electronics, automobile, pharmaceuticals, and heavy metals and machine manufacturing. Based on deployment, the report further segments the AI in the manufacturing market into on-premise and cloud. The on-premise segment would dominate the market throughout the forecast period. The report analyzes the application segment into predictive maintenance & machinery inspection, material movement, production planning, and field services. Out of these segments, the predictive maintenance & machinery inspection segment is expected to become the highest revenue generating segment during the forecast period, 2018–2025. The report studies the global AI in manufacturing industry based on regions including North America, Asia-Pacific, Europe, and LAMEA. The report states that Asia-Pacific would grow at the highest CAGR of 56.6% during the forecast period.
The report on the AI in the manufacturing market offers a comprehensive analysis of the market players leading the market to determine the competitive intelligence. The leading market players including Bosch, Intel Corporation, General Electric Company, Oracle Corporation, Mitsubishi Electric Corporation, IBM Corporation, Cisco Systems, Inc., NVIDIA Corporation, Microsoft Corporation, and Siemens AG. The report also outlines the major strategies such as expansions, collaborations, new product launches, mergers & acquisitions, and others adopted by them to gain the stronghold in the industry.
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