Artificial intelligence (AI), sometimes called machine intelligence, is the ability of a computer program and machines to think and learn. The fourth industrial revolution is said to be carried out by automation. The utilization of AI and robots in the manufacturing sector has revolutionized mass-production. Robots are capable of doing recurring activities, designing product models, eradicating human error and delivering superior levels of quality assurance, which has helped the people focus on more complex and innovative tasks. AI has helped in the business expansion by meeting the increasing demand of customers and by increasing the production capacity. It has been of great use in carrying out dangerous and overly laborious work. The growth of the AI in the manufacturing market can be substantiated by the increasing in data generation, growth in industrial automation, rise of cloud platforms and IoT devices. The other advantages it offers involves its use in predictive analysis, machinery inspection, quality control, and cybersecurity.
However, since the AI in manufacturing faces several challenges in the implementation of AI technology, the market could face constraints to its growth.
The “AI in Manufacturing Market – Forecasts from 2019 to 2024” is an exhaustive study of this niche technology market which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by offering, technology, application, end-user, deployment, and geography.
The AI in the manufacturing market has been segmented based on offering, technology, application, end-user, deployment, and geography. Based on offering the market has been segmented into Hardware, Software, and Services. By technology, the market has been classified into Machine Learning, Computer Vision, Context-Aware Computing, NLP. By application, the market has been classified into Material Movement, Predictive Maintenance & Machinery Inspection, Production Planning, Field Service. By end-user, the market has been classified into Semiconductor & Electronics, Energy & Power, Pharmaceutical, Automobile, Heavy Metal & machine Manufacturing, and others. By deployment, The market has been classified into Cloud and On-Premise.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers/service providers.
Major players in the AI in manufacturing market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the AI in manufacturing market.
Predictive Maintenance & Machinery Inspection
Quality Control & Reclamation
Semiconductor & Electronics
Energy & Power
Heavy Metal & Machine Manufacturing
Middle East and Africa