Artificial Intelligence in Manufacturing Market Size

Enhancement in automation in the manufacturing industry & rise in demand for big data integration boost the growth of AI in the manufacturing market.

PORTLAND, PORTLAND, OR, UNITED STATES, September 11, 2023/EINPresswire.com/ -- As per the report published by Allied Market Research, the global artificial intelligence in manufacturing market size was $513.6 million in 2017, and is anticipated to reach $15.27 billion by 2025, growing at a CAGR of 55.2% during the forecast period.

The rise in demand for artificial intelligence in manufacturing due to the increasing adoption of the Internet of Things and rise in awareness about customer satisfaction augment the growth of global artificial intelligence in the manufacturing market. However, high cost of implementing this technology and the high threat to human dignity restrain the market growth. Moreover, expansion of smarter and more efficient robots is anticipated to offer lucrative opportunities to the market, in the near future.

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COVID-19 Scenarios:

The global pandemic has affected a major part of the manufacturing industry which, in turn, impedes the adoption of artificial intelligence by companies. However, certain manufacturing companies including food & beverages and pharmaceuticals can continue production amid COVID-19. Moreover, the global lockdown has urged other manufacturing companies to halt production.

By technology, the market is segmented into machine learning, computer vision, context awareness, and natural language processing. Among these, the computer vision segment is expected to dominate artificial intelligence in the manufacturing market in terms of revenue during the forecast period.

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In the global market for artificial intelligence in manufacturing, the on-premise segment is expected to have the largest share during the forecast period. The automobile industry segment is projected to dominate the market in terms of revenue in 2017. This is because artificial intelligence can help reduce errors and increase production during manufacturing processes.

The artificial intelligence in the manufacturing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, North America holds a significant share in the global artificial intelligence in the manufacturing industry, and Asia-Pacific is projected to register the highest CAGR of 57.2%, followed by North America. North America possesses high growth potential due to the adoption of industrial robots in the manufacturing sector of the region.

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The key players profiled in the global artificial intelligence in manufacturing market report includes General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, Mitsubishi Electric Corporation, Cisco Systems, Inc., NVIDIA Corporation, Siemens AG, Oracle Corporation, and. Bosch.

Key Benefits of Artificial Intelligence in the Manufacturing Market :

• The study provides an in-depth analysis of the global artificial intelligence in the manufacturing market along with the current trends and estimations to elucidate the imminent investment pockets.

• Information about the key drivers, restraints, and opportunities and their impact analysis on the market size is included in the study.

• Porter’s Five Forces analysis illustrates the potency of the buyers and the suppliers operating in the industry.

• A quantitative analysis of the global market from 2017 to 2025 is provided to determine the market potential.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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