MARKET OVERVIEW

The Artificial Intelligence (AI) in the manufacturing industry, from the recent research reports, is foreseen to grow in terms of value from USD 11.65 billion in 2020 to USD 25.89 billion by 2030 with an attractive compound annual growth rate (CAGR) of 47.09%. The Artificial Intelligence (AI) Market research report consists of thorough information about demand, growth, opportunities, challenges, and restraints.

Artificial intelligence can be defined as the ability of computer-controlled products to do particular tasks that are performed by human beings by using their intelligence and discernment. Artificial intelligence is aiding industry 4.0 in automatic production, advanced digitized networks, monitoring processes in factories, decentralized manufacturing system, and others.

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REGIONAL ANALYSIS

Looking at Artificial Intelligence (AI) in manufacturing market share and other details it becomes very clear that this industry is notably working in four major regions of the world that is Asia Pacific region, the North American region, the European region, and the rest of the world (the Middle East and Africa). The Asia Pacific region is anticipated to dominate this market during the forecast period as its developing countries such as India, China, and Japan are have huge manufacturing infrastructure for semiconductors, power, energy, pharmaceuticals, and electronics. Also, the rising adoption of robots in different manufacturing industries is another factor that helps this market in achieving greater heights by the end of the forecast period. The North American region will account for the second-largest market share during this period of research as countries of this region are adopting the new technologies for different applications such as process planning, automation of factory, scheduling of production, etc.

If we look at the latest research analysis of Artificial Intelligence (AI) in the manufacturing market, the industry can be ramified based on component, application, technology, and vertical. Among all the segments of this market, the artificial intelligence and machine learning segment will experience noteworthy growth during the forecast period. The supply chain management segment will also register a significant CAGR of 8%. The demarcation of this market into various segments is as follows:-

Based on components, it has hardware, services, and software.

Based on the application, it has supply chain management, field services, it management, predictive maintenance, robotics, quality control, and others.

Based on the technology, it has deep learning, artificial intelligence & machine learning, computer vision, natural language processing, and context-aware computing.

Based on vertical, it has automobile, energy & power, food & beverage, semiconductor & electronics, pharmaceuticals, aerospace & defense, and others.

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Key Players