The global artificial intelligence in manufacturing market has gathered pace in its growth with rapidly evolving industrial automation and IoT. Artificial intelligence or AI is one of the fastest-growing technologies in the recent years. Artificial intelligence is associated with human intelligence with similar characteristics such as reasoning, understanding, problem solving, language, and learning. Incorporation of AI in manufacturing industry provides safer operational environment, which further helps in enhancing the quality and quantity of the production.
An upcoming report on the global artificial intelligence in manufacturing market by Transparency Market Research could be a valuable source of information for major stakeholders in the market. This is because of the exhaustive information, gathered after thorough primary and secondary research, contained in it. The report would be an objective guideline of growth drivers, restraints, opportunities, and pitfalls in the market. The report would also offer a brilliant study of the market as it focus on market dynamics, segmentation, competitive landscape, and geographical outreach. It is a useful guidelines for players to cement a strong position in the global artificial intelligence in manufacturing market.
Artificial intelligence is widely adopted by the manufacturers in the industries such as pharmaceuticals, automobile, food and beverages, and energy and power. Increasing venture capital investments, growing demand for automation, and rapidly evolving industries and industrial IoT are believed to be driving the global artificial intelligence in manufacturing market. Along with these, growing demand for hardware platforms, and increasing need for high-computing processors to run a wide range of AI software are also expected to propel the global artificial intelligence in manufacturing market. AI in manufacturing industry helps in collecting and handling big data. Thus, it is extensively used in various manufacturing applications such as machinery inspection, cybersecurity, quality control, and predictive analytics. All such factors are expected to boost the global artificial intelligence in manufacturing market.
Furthermore, growing demand for machine learning technology and computer vision for machinery inspection, increasing adoption of AI by factories to reduce machine downtime, and rising demand from factories to improve productivity and reduce operational cost are projected to fuel the global artificial intelligence in manufacturing market. The integration of AI technology in machinery inspection and predictive maintenance encompasses testing, regular examination, lubrication, inspection, and adjustments of equipment. Such benefits are expected to thrust the global artificial intelligence in manufacturing market.
Geographically, APAC is expected to lead the global artificial intelligence in manufacturing market as the region has witnessed rapid establishment of multiple manufacturing plants. Increasing demand for only robots work, and rising adoption of industrial robots in manufacturing plants could also be responsible for fueling the artificial intelligence in manufacturing market in the region. Other prominent region in the market is North America. Increasing cross-indsutry participation in manufacturing domain is expected to boost the artificial intelligence in manufacturing market in this region.
Key players operating in the global artificial intelligence in manufacturing market are IBM, Microsoft, Siemens, Intel, Google, and AWS.
Full reports available here