Market Research Report
Global AI in Manufacturing Market 2019-2025
|Global AI in Manufacturing Market 2019-2025|
Published: May 24, 2019
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Global AI in Manufacturing Market Size, Share & Trends Analysis Report by Application (Quality Control & Reclamation, Predictive Maintenance, Supply Network Optimization, and Others) and by End-User (Automobile, Pharmaceutical, Heavy Metal & Machine Manufacturing, and Others) and Forecast, 2019 - 2025
AI in manufacturing is revolutionizing the manufacturing industry by offering real-time maintenance of equipment with improved production plans. Rising industrialization and urbanization coupled with the rapid transition towards internet-based solutions for every purpose in every sector is further expected to augment the adoption of AI in manufacturing industry. According to the International Federation of Robotics (IFR), around 6.8 million industrial robots were sold in 2016; which is further expected to reach nearly 51 million between 2017 and 2020. Therefore, the increasing inclination towards IoT and AI in industries is significantly propelling the growth of the market. Moreover, the companies are developing smarter robots for increasing the operational efficiency of manufacturing plants, which is further marking a growth opportunity for the global AI in manufacturing market in near future.
The global AI in manufacturing market is further analyzed on the basis of geographical regions, including North America, Europe, Asia-Pacific, and Rest of the World. North America contributed a prominent share in the global AI in manufacturing market in 2018. The US significantly contributes to the development and prospering of advanced technologies in every sector, which includes the integration of AI in e-commerce, logistics, and manufacturing. There are several prominent companies in the region that are engaged in the development of AI-driven solutions for the manufacturing industry with many leading consumers of these advanced technologies such as General Electric Co. and Google LLC. These are some of the major factors that significantly drive market growth in North America. Furthermore, Asia-Pacific is projected to witness the fastest growth rate, in terms of revenue in the global AI in manufacturing market during the forecast period. This is majorly due to the increasing adoption of advanced manufacturing facilities in the emerging economies of the region such as India and China. The region has a strong presence of electronics and semiconductor industry and automobile industry, that are projected to adopt AI in manufacturing industry in Asia-Pacific.
Some of the players operating in the global AI in manufacturing market include IBM Corp., NVIDIA Corp., Intel Corp., Microsoft Corp., Presenso Ltd., Rockwell Automation, Inc., SAS Institute Inc., Seebo Interactive Ltd., Sight Machine, Inc., and Uptake Technologies Inc. The companies are focused on the development of innovative products for AI in manufacturing market to stay competitive in the global market. Geographical expansion, merger and acquisition, partnerships, collaborations, finding a new market or innovate in their core competency in order to expand individual market share are some of the key strategies adopted by major market players.
The market study of the global AI in manufacturing market is incorporated by extensive primary and secondary research conducted by a research team. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for software vendors, technology providers, AI platform and solution providers, cloud service providers, and investors and venture capitalists, for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.