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A recent report published by Infinium Global Research on artificial intelligence in manufacturing market provides in-depth analysis of segments and sub-segments in global as well as regional artificial intelligence in manufacturing market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional artificial intelligence in manufacturing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global artificial intelligence in manufacturing market. According to the report the global artificial intelligence in the manufacturing market is projected to grow with healthy CAGR over the forecast period of 2018-2024.
Market Insight
Artificial intelligence (AI) is the branch of computer science that emphasizes the creation of intelligent machines to simulate human intelligence. The artificial intelligence is used in many industries to provide better efficiency, precision, accuracy, and speed. Presently, the artificial intelligent plays an import role in the manufacturing industries as it offers more reliable and faster work process than the humans. AI has the potential to increase the efficiency of manufacturing with improved productivity. Rapidly growing industrial automation, digitalization, extensive use of robotics and the computer technologies in the manufacturing, the growing use of big data and IoT drives the growth of human intelligence in the manufacturing market. In addition, the artificial intelligence offers speech recognition, learning, planning, and problem-solving capabilities which help the manufacturing companies to provide a safer operational environment helps to enhance the quantity and quality of the production. On the other side, reluctance for acceptance of artificial intelligence among the manufacturers is expected to restrain the market growth over the forecast period.
Moreover, the use of AI in manufacturing will offer more opportunities for personalized and customized manufacturing. The growing technological advancements and rising investments in R&D of AI are projected to create new opportunities for this market in upcoming years. Among the regions, North America dominates the market of artificial intelligence in manufacturing. The existence of the major players of artificial intelligence in North America is contributing to the market growth in this region. Asia-pacific is the fastest growing region in the artificial intelligence in manufacturing industries market. The rapidly growing industrial automation in the Asia Pacific region increased the use of robotics and other computer technology. The countries including China, Japan, South Korea, and Indonesia are focusing on the introduction of a new technology of AI to improve the efficiency and enhances productivity with minimal cost.
Segment Covered
The report on global artificial intelligence in manufacturing market covers segments such as technology and end use industries. On the basis of technology, the global artificial intelligence in the manufacturing market is categorized into text analytics & NLP (natural language processing), machine learning platforms, deep learning, robotic processes automation, machine vision, and others. On the basis of end use industries, the global artificial intelligence in the manufacturing market is categorized into automobile, heavy metals and machine manufacturing, semiconductor and electronics, energy and power, food and beverages and pharmaceuticals.
Geographic Coverage
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
Companies Profiled:
The report provides profiles of the companies in the global artificial intelligence in manufacturing market such as Siemens AG, IBM Corporation, Intel Corporation, General Electric (GE) Company, Microsoft Corporation, Rockwell Automation Inc., Cisco Systems, Inc., Mitsubishi Electric Corporation, Oracle Corporation, and
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global artificial intelligence in manufacturing market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of artificial intelligence in the manufacturing market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in artificial intelligence in the manufacturing market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of artificial intelligence in manufacturing market to understand the present and future trends in this market and formulate their strategies accordingly.
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