The report is titled “Global AI in the manufacturing market” which analyses the regional and global markets based on technology, component, application end user, and region. The report offers comprehensive historical and forecast market size, along with trend analysis. The report focuses on the importance of the market share, an overview of competition the strategic imperatives, future growth strategies, global adoption of AI in manufacturing, growth opportunities, and an assessment of competition for the key players identified by this report by RationalStat.
market overview and dynamics: The penetration of AI in manufacturing will increase in the forecast period
The global market for AI of manufacturing was valued at close to US$ 22 billion as of 2020 and is projected to grow at a rapid rate in the next few years. The dramatic increase in value of the global AI in the manufacturing market is a result of the growing need for human-AI collaboration in the manufacturing industry to achieve general cost savings is propelling the industry growth. Robots play an essential part in the manufacturing industry.
In the coming years, the demand to use AI within manufacturing industries is anticipated to see a significant increase due to the development of manufacturing IoT and automation technology. The system collects data from the IoT devices that are installed in the painting zone of the factory. Furthermore, the introduction of industry 4.0 for the manufacturing industry is expected to further drive the market as industry 4.0 is extremely automated, and a large amount of data is exchanged through the manufacturing technology of the machine.
A majority of the prestigious global companies in Europe have implemented at least one AI-use instance
North America is leading the global AI in the manufacturing industry. In addition, the US president has signed an executive order to launch an American AI initiative. The robust automotive industry along with industrial equipment and the pharmaceutical industry are a few of the reasons that are affecting Europe’s AI market for manufacturing positively. The rapid development in consumer electronics and the rapid growth of economies such as China, India, Japan as well as South Korea led the Asia Pacific market to witness significant expansion over the coming years.
Segmental Analysis
- On the basis of application predictive maintenance application segment is dominating the global market as it enables manufacturers to save a large number of resources by reducing downtown to a minimum.
- Based on components, the software segment is expected to hold a prominent share of the global AI in manufacturing market due to the rising demand for software, especially in predictive maintenance and the widening application scope of AI in the manufacturing sector.
- On the basis of region, North America is anticipated to lead the global AI in manufacturing market. Successful startups in AI have witnessed growth in the US for connected cars, retail, and manufacturing industry for smart factories and industry 4.0.
Competitive Analysis
The global AI in manufacturing market observes intense competition as a result of the presence of a large number of well-established players. Companies are offering cloud AI to boost and maximize the speed of processes along with protecting the health and safety of workers. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. New service portfolio and product launches are among the key strategies adopted by major industry players. For instance,
- In January 2022, the GeForce RTX 3050 product was launched by NVIDIA Corp. GeForce RTX 3050 product brings next-generation graphics and AI to games. Ray tracing technology is equipped in the RTX line-up for real-time, cinematic-quality rendering.
- Moreover, features such as deep learning super sampling and boosts frame rate are also equipped in this product.
- In December 2021, IBM Z and Cloud Modernization Center digital platforms launched by IBM. These platforms offer a wide range of tools and resources, as well as ecosystem partners, which enable users to accelerate the modernization of data, processes, and applications in an open hybrid cloud architecture.
Some of the leading players involved in the global AI in manufacturing market include NVIDIA Corp., IBM Corp., Intel Corp., Siemens AG, General Electric Company, Alphabet Inc. (Google LLC), Microsoft Corp., Micron Technology Inc., Amazon.com Inc. (Amazon Web Services Inc.), Oracle Corp., SAP SE, Cisco Systems Inc., Mitsubishi Electric Corp., Salesforce Inc., and SparkCognition among others
RationalStat has segmented the AI in manufacturing market on the basis of component, technology, application, end user, and region.
- By Component
- Hardware
- Software
- Services
- By Deployment Model
- Cloud
- On-Premise
- By Technology
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
- By Application
- Predictive Maintenance and Machinery Inspection
- Inventory Optimization
- Production Planning
- Quality Control
- Cyber Security
- Industrial Robots
- Others (Field Services)
- By End User
- Automotive
- Food & Beverages
- Healthcare & Pharmaceutical
- Semiconductor & Electronics
- Energy & Power
- Others (Textile, Aerospace & Defense)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
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