Artificial Intelligence (AI) in Manufacturing Market Size is USD 4798 Million by 2026 at CAGR 28.1% | Valuates Reports
BANGALORE, India, Jan. 28, 2021 /PRNewswire/ -- Artificial Intelligence in Manufacturing Market is Segmented by Type (Deep Learning, Computer Vision, Context Awareness, NLP), by Application (Semiconductor and Electronics, Energy and Power, Pharmaceuticals, Automobile, Heavy Metals and Machine Manufacturing, Food and Beverages, Textile and Aerospace), by Regions & Key players: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the AI Technology Category.
The global Artificial Intelligence in Manufacturing market size is projected to reach USD 4798 Million by 2026, from USD 840 Million in 2019, at a CAGR of 28.1% during 2021-2026.
Major factors driving the growth of Artificial Intelligence in Manufacturing Market size are the increasing number of large and complex datasets, evolving Industrial IoT and automation, improving computing power, and increasing venture capital investments. The incorporation of AI in manufacturing offers added value and helps in predictive maintenance which results into reducing operational costs and increasing productivity.
Request a Sample Copy of the Report For COVID-19 Impact Analysis on AI in Manufacturing Market: https://reports.valuates.com/request/sample/QYRE-Auto-30G2102/Global_Artificial_Intelligence_in_Manufacturing
TRENDS INFLUENCING THE ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET SIZE
The evolution of industrial IoT and automation is expected to drive the growth of artificial intelligence in the manufacturing market size. In the manufacturing sector, the Industrial Internet of Things (IIoT) plays a key role in implementing AI-based technology. By allowing an architecture that provides real-time information on operational and business systems, industrial IoT makes industrial processes efficient. The AI-based system takes less time and can operate without errors hence. Manufacturing performance is improving, which further contributes to business growth. Furthermore, the growing use of deep learning technology in the manufacturing industry is expected to drive the growth of the AI in manufacturing market size.
Investments from government and private institutions fuel the growth of global artificial intelligence in manufacturing market size. In smart manufacturing, artificial intelligence is most widely used in factory automation, order management, and automated scheduling. During the forecast period, an increasing number of AI technologies will be used for quality monitoring and fault management, supported by advancements in computer vision technology.
On the contrary, it is anticipated that disinclination among manufacturers to implement AI-based technologies and the risk of unemployment caused due to robots replacing humans jobs would impede the market growth.
View Report Details Before Purchasing: https://reports.valuates.com/market-reports/QYRE-Auto-30G2102/global-artificial-intelligence-in-manufacturing
ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET SHARE ANALYSIS
The hardware segment is expected to grow at the highest CAGR in the AI in manufacturing market. For a long time, most AI hardware manufacturers have been in the business of supplying other technologies such as connected vehicles, machine vision cameras, and IoT with the same hardware components. This will allow companies to easily move the technology. In addition, the growing involvement of startups in AI hardware complements the growth of the hardware market.
Based on Application, the quality control segment is expected to witness the highest CAGR in the AI in manufacturing market. AI in manufacturing helps provide real-time updates about the various stages of the manufacturing process.
The computer vision segment is expected to hold the largest manufacturing market share during the forecast period. Using computer vision, robots can better understand and safely navigate in the factory environment and around humans. The implementation of AI-based computer vision in smart factories helps detect faults and flaws in the outcome of the product.
The automotive sector is expected to witness the highest CAGR during the forecast period. Growing demand for autonomous vehicles, the adoption of innovative automotive technologies for quality control, increased demand for production tracking, predictive maintenance, and inspection of machinery is driving the market growth.
Based on the region, the APAC region is projected to grow at the highest CAGR from 2020 to 2026. The presence of a large number of manufacturing companies in China and Japan, together with the strong presence of automotive, electronics, and semiconductor companies, is driving the growth of AI in manufacturing market size. The rise in AI adoption in China's manufacturing sector has been boosted by favorable policies, ample funds, and the potential for AI implementation.
Inquire for Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-30G2102/Global_Artificial_Intelligence_in_Manufacturing
ARTIFICIAL INTELLIGENCE IN MANUFACTURING MARKET SEGMENTS
Based on regional and country-level analysis, the Artificial Intelligence in Manufacturing market has been segmented as follows:
North America
- United States
- Canada
Europe
- Germany
- France
- UK.
- Italy
- Russia
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Inquire for Customized Report: https://reports.valuates.com/request/customisation/QYRE-Auto-30G2102/Global_Artificial_Intelligence_in_Manufacturing
Artificial Intelligence in Manufacturing Breakdown Data by Type
- Deep Learning
- Computer Vision
- Context Awareness
- Natural Language Processing.
Artificial Intelligence in Manufacturing Breakdown Data by Application
- Semiconductor and Electronics
- Energy and Power
- Pharmaceuticals
- Automobile
- Heavy Metals and Machine Manufacturing
- Food and Beverages
- Others (Textiles & Aerospace).
Key Players
- Siemens
- Intel Corporation
- NVIDIA Corporation
- Alphabet
- IBM Corporation
- Microsoft Corporation
- General Electric Company
- DataRPM, Sight Machine
- General Vision
- Alphabet
- Cisco Systems
- Mitsubishi Electric Corporation
- Oracle Corporation
- SAP SE
- Preferred Networks
- Vicarious
- Skymind
- Citrine Informatics
- CloudMinds Technologies
- Ubtech Robotics.
Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-30G2102&lic=single-user
Buy Now for Enterprise User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-30G2102&lic=enterprise-user
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS :
- Artificial Intelligence in Healthcare Market size is projected to reach USD 22590 Million by 2026, from USD 1943 Million in 2019, at a CAGR of 41.5% during 2021-2026.
- Artificial Intelligence in Retail Market size is projected to reach USD 1300.4 Million by 2026, from USD 1076.2 Million in 2020, at a CAGR of 19.8% during 2021-2026
- Artificial Intelligence in the Energy Market is Segmented by Type (Machine Learning, NLP), by Application (Load Research & Forecasting, Transmission & Distribution) and by various regions.
- Artificial Intelligence (AI) in Education Market is segmented by Product Type - Machine Learning and Deep Learning, Natural Language Processing, Application - Virtual Facilitators and Learning Environments, Intelligent Tutoring Systems, Content Delivery Systems, Fraud and Risk Management, by key players, by Regions - North America, Europe, China and Japan, etc.
- Artificial Intelligence for Automotive Market is Segmented by Type (Machine Learning, Neural Networks), by Application (Autonomous Driving, Driver and Passenger Personalization and Enhancement, Enhanced Ability to Capture Data) and by various regions.
- AI In Telecommunication Market size is projected to reach USD 13450 Million by 2026, from USD 773 Million in 2019, at a CAGR of 49.8% during 2021-2026.
- Artificial Intelligence (AI) in the Medicine market was valued at USD 719 Million in 2017 and is estimated to reach USD 18,119 Million at a CAGR of 49.6% from 2018 to 2025.
- Artificial Intelligence Market size is expected to reach USD 169411.8 Million in 2025, from USD 4065 Million in 2016, growing at a CAGR of 55.6% from 2018 to 2025.
Click Here To See Related Reports On Artificial Intelligence Market
ABOUT US:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
CONTACT US:
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article