The Artificial Intelligence in Manufacturing Market is Expected to Reach $15,273.7 Million in 2025 with a CAGR of 52.2%
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The Artificial Intelligence in Manufacturing Market is Expected to Reach $15,273.7 Million in 2025 with a CAGR of 52.2%

Tuesday, February 9, 2021 10:50 AM
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DALLAS, TX / ACCESSWIRE / February 9, 2021 / According to new report added in Report Banana offerings, there are significant money making opportunities available in the artificial intelligence in manufacturing market. Companies planning to enter this market need to prepare and differentiate to maximize their return on investment.

In terms of opportunities, the artificial intelligence in manufacturing market is expected to grow from $513.6 million in 2017 to $15,273.7 million in 2025; it is expected to grow at a CAGR of 52.2% during the forecast period.

Artificial intelligence is a technology that deals with the study and enhancement of intelligent machines and software. This technology is used in industry verticals, such as manufacturing, supply chain, and others. Development of artificial intelligence-empowered chips, robots, and others in manufacturing helps to enhance the overall production line, and thus, has significantly increased the adoption of artificial intelligence in the manufacturing sector.

Factors such as mass production, operational proficiency, and enhanced productivity achieved by implementing artificial intelligence in manufacturing industry and its processes are estimated to propel the demand for artificial intelligence in manufacturing, globally. Moreover, the improvement of more powerful and reasonable cloud computing infrastructures is devising a robust effect on the growth potential of AI, which is further expected to drive the market growth.

The global artificial intelligence in manufacturing market is segmented based on deployment, technology, application, industry, and region. Based on deployment, the market is bifurcated into cloud and on premise. The On-Premise segment is anticipated to dominate the global market throughout the study period. By technology, the market is divided into machine learning, computer vision, context awareness, and natural language processing. The computer vision segment is anticipated to dominate the global market throughout the study period. Based on application, the market is categorized into material movement, predictive maintenance & machinery inspection, production planning, field services, and quality control & reclamation. The predictive maintenance & machinery inspection segment is projected to dominate the global market in the near future. Based on industry, the market is classified into semiconductor & electronics, energy & power, pharmaceutical, automobile, heavy metal & machine manufacturing, and others. The automobile segment is projected to dominate the global market in the near future.

Prominent players profiled in this report include Bosch, Cisco Systems, Inc., General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, Mitsubishi Electric Corporation, NVIDIA Corporation, Oracle Corporation, and Siemens AG.

Significant Aspects of the Report and Main Highlights:

  • Changing business trends in the artificial intelligence in manufacturing market
  • Market segment analysis at different level such as type, deployment, technology, application, industry, and region
  • Historical and forecast size of the artificial intelligence in manufacturing market in terms of revenue
  • Major drivers and opportunities pertaining to the artificial intelligence in manufacturing market
  • Competitive landscape and player positioning analysis for the market
  • Key product offerings by major players and business strategies adopted
  • Key challenges faced by operating players in the market space
  • Analysis of major risks associated with the market operations

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

To read more about this market please click on https://www.reportbanana.com/-artificial-intelligence-in-manufacturing-market-b-rpt40510.aspx. Get more details by contacting Report Banana at +1 469 638 2694 (US), +31-6-82270883 (Europe), +91-771-4288410 (Asia) or click on [email protected].

About Report Banana

Report Banana provides syndicated as well as customized market research reports from various market research companies around the globe. Our product offerings register presence in most of the verticals such as aerospace, automotive, chemical, construction, consumer, E&E, medical, and service industries. For further information, visit www.reportbanana.com

Roy Almaguer
Director of Client Engagement

Report Banana
Dallas, Texas, USA
Email: [email protected]
Tel: +1 210-878-7693

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SOURCE: Lucintel

Lucintel
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