Category

Artificial Intelligence In Manufacturing Market Size, Share, Opportunities And Trends By Offering (Hardware, Software, Services), By Technology (Natural Language Processing , Machine Learning , Deep Learning, Image Recognition, Others), By End-User Industry (Automotive, Consumer Electronics, Healthcare, Food & Beverage, Others) And By Geography - Forecasts From 2020 To 2025

Published: Mar 2020 | Report Code:  KSI061612925 | Pages:  107

Global Artificial Intelligence in manufacturing market is projected to grow at a CAGR of 17.52% during the forecast period, reaching a total market size of US$82.584 billion in 2025 from US$31.348 billion in 2019. Artificial intelligence is strengthening its footprints across the global manufacturing industry as it continues to become more competitive. Increasing competition across the sector is pushing industry players towards pumping heavy investments into research and developments and into the integration of advanced technologies across all major business functions. Increasing focus of end-user enterprises on reducing costs is boosting the demand for artificial intelligence in manufacturing. Continuously increasing adoption of artificial intelligence by various sub-sectors is driving the market and market players are investing heavily in research and development for introducing new and updated products in order to gain market share. The companies are heavily investing in artificial intelligence as it is the future of manufacturing. With the growing popularity of Industrie 4.0, there has been an increase in the application of artificial intelligence across many business functions as it aids in achieving fewer errors, shorter reaction times, clearly assigned tasks, and optimization of production systematically and sustainably. Industrie 4.0 is also helping in increasing the output and provides safety for employees and factory assets, and it has also enabled the manufacturers to manufacture customized goods at lower costs and in lesser time. This is further increasing the demand for artificial intelligence in manufacturing. The growth of artificial intelligence in manufacturing will continue to be driven by widespread usage of machine vision cameras in manufacturing applications like for inspection, material movement, field service, and quality control. Artificial Intelligence in manufacturing market has been segmented by offering, by technology, by end-user, and by geography. By offering, the market has been segmented into hardware, software, and services. By technology, the market has been segmented into natural language processing, machine learning, deep learning, image recognition, and others. By end-user industry, the market has been segmented into automotive, consumer electronics, healthcare, food & beverage, and others.

Hardware is required for sensing and transferring important data

Hardware in artificial intelligence is required for sensing important information and transmitting the same for further analysis, thereby aiding in making informed decisions. The market for hardware in AI in the manufacturing market is majorly attributed to its increasing use in high-computing processors which run artificial intelligence algorithms in order to churn out meaningful insights from huge volumes of data. The software also holds a significant share in this market and the market growth is being driven by advancements in technologies and an increasing number of vendors offering advanced software solutions for AI in manufacturing. Solid market growth for services is expected over the forecast period. The availability of a good number of vendors offering integration, maintenance, training, and other services for different enterprise and business types will continue to drive the market growth in this segment.

Machine learning has enabled in the handling of big data

The machine learning demand is increasing due to its ability to collect and handle big data and its applications in various functions like predictive analytics and machinery inspection, quality control, and cybersecurity. The market for machine learning is also increasing as it improves productivity, reduces machine downtime, and reduces operational cost. The deep learning is a subset of machine learning and machine learning is a subset of artificial intelligence. The demand for deep learning is increasing due to its ability to learn from data, detect patterns, and make the decision on its basis. This feature is helpful in supply chain operations, which is contributing to its growing demand among end-users who seek to gain a competitive edge over their rivals by streamlining operations and offering differentiated products to customers.

Increase in the use of robots in the automotive industry is increasing the demand for artificial intelligence in manufacturing

The increase in the use of robots and robotics components in the production of vehicles in the automotive industry is leading to an increase in demand for artificial intelligence in manufacturing. The increase in usage of artificial intelligence and machine learning has helped in minimizing errors, reducing lead times, assigning tasks more clearly, and optimizing production systematically and sustainably. The consumer electronics industry is expected to have a rise in demand for artificial intelligence on account of continuously shifting trends towards miniaturization. The market growth in other sectors is expected to remain solid over the projected period.

By geography, North America has a notable share in the market

Regionally the artificial intelligence in the manufacturing market has been segmented into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. North America holds a significantly large share in this market on account of the early adoption of advanced technologies by companies in this region owing to the availability of state-of-the-art infrastructure here. The presence of a large number of manufacturing companies, focusing on improving their production by utilizing more of automation technologies, is contributing to the market growth here. The market in the Asia Pacific is expected to witness a solid growth owing to the forecast period. The growth will majorly be attributed to the heavy inflow of investments by industry players in this region on account of the easy availability of resources here. Companies in the growing manufacturing sector in the region, especially in countries like China and India, are focusing on improving production by implementing new and advanced technologies that use artificial intelligence. Europe holds a significantly large share in this market and is expected to remain a significantly large contributor to the market growth throughout the projected period on account of availability of state-of-the-art infrastructure here which favors the use of advanced AI technologies in manufacturing facilities. Increasing focus of companies in this region on adopting more sustainable ways of manufacturing goods, due to strict regulations in the region regarding climate change, is a major driving factor for the market here.

Market Players and Competitive Intelligence

The competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry participants profiled as part of this section areSiemens AG, Robert Bosch GmbH, Microsoft Corporation, Atos SE, Mitsubishi Electric Corporation, NVIDIA Corporation, IBM Corporation, Intel Corporation, General Electric Company, Fanuc Corporation, among others.

Key Developments

  • September 2018 –Siemens had launched its new service approach for an overhead line inspection named “SIEAERO” smart analytics software that utilizes artificial intelligence and machine learning to store, manage, and analyze all data in one integrated software system. It will inspect the line through the unmanned aerial vehicle (UAV) combined with artificial intelligence. The company unveiled its new product at European Utility Week 2018 in Vienna, Austria.
  • September 2018:- Shell Global Solutions (US) had announced that it would be broadening its work Microsoft for accelerating its industry transformation and innovation. The Shell aims to drive efficiencies across its company from drilling and extraction to employee empowerment and collaboration, as well as safety for its retail customers and employees by this collaboration with Microsoft. And as part of the collaboration Shell announced that C3 IoT with Microsoft Azure as its artificial Intelligence platform for enabling and accelerating the digital transformation on a global scale.

Segmentation

  • By Offering
    • Hardware
    • Software
    • Services
  • By Technology
    • Natural language Processing
    • Machine Learning
    • Deep Learning
    • Image Recognition
    • Others
  • By End-User Industry
    • Automotive
    • Consumer Electronics
    • Healthcare
    • Food & Beverage
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

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