The Artificial Intelligence in Manufacturing Market was valued around USD 500 million in 2019 and is expected to grow at a CAGR of 57.2% over the forecast period (2020-2027).

The factors driving growth of the Artificial Intelligence in Manufacturing Market includes increasing application of artificial intelligence across end-use industries such as pharmaceuticals, automotive, food and beverages, rise in the volumes of data generated by enterprises and improvements in the living standards. Artificial intelligence offers remarkable benefits such as reduced machine downtime, enhanced productivity, 360-degree visibility across plants, lines, and warehouses, and improves the overall production process, are some of the features pushing the market growth. Moreover, growing awareness about passenger and vehicles safety, emergence of Industrial Internet of Things (Iao), Government initiatives promoting digitalization and rise in the launch of innovative products are some of the additional factors supplementing the Artificial Intelligence in Manufacturing Market Size. In addition, the increasing investments by leading players on research and development, strategic mergers and collaborations between companies and growing disposable incomes, are further contributing towards the market growth.

However, growth of the Artificial Intelligence in Manufacturing Market is hindered due to insufficient availability of skilled workforce.

The leading players operating in the market are Siemens, General Electric, Microsoft, Micron Technology, Amazon Web Services, Inc., NVIDIA Corporation, Intel Corporation, IBM, Google, and Sight Machine, among others.

Based on Offering, the Hardware segment is projected to hold the largest market share CAGR during the forecast period

Growing demand for platforms with high computing power for running different AI software, is propelling growth of the segment.

Based on Technology, the Machine Learning segment is projected to expand at a remarkable CAGR over the forecast period

Growing adoption of machine learning solutions at factories for enhancing productivity and minimizing machine downtime, and its increasing application in manufacturing processes such predictive analytics, machinery inspection and quality control, some of the factors driving growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to hold the largest market share during the forecast period

As per the Artificial Intelligence in Manufacturing Market Report, increasing deployment of automated technology at manufacturing plants across India, China and South Korea, rapid industrialization, growing adoption of advanced technologies by manufacturing and increasing population size, are some of the factors supporting the market growth in the Asia-Pacific region.

Key Developments

  • In 2020, Intel Corporation partnered with the tech ecosystem to combat the COVID-19 situation in India. Intel Corporation entered into partnership with NASSCOM to build an application ecosystem and multi-cloud backend infrastructure to enable population-scale COVID-19 diagnostics to predict the outbreaks in the country.
  • In 2020, IBM decided to collaborate with Wipro Limited to help its customers in embarking on a seamless and secure hybrid cloud journey. Through this collaboration, Wipro limited planned to use IBM cloud offering and technologies to develop industry solutions for clients in manufacturing, healthcare, and other sectors.

Market Segmentation

Segmentation by Offering

  • Hardware
    • Processor
      • MPU
      • GPU
      • FPGA
      • Asic
    • Memory
    • Network
  • Software
    • AI Solutions
      • On-Premises
      • Cloud
    • AI Platform
      • Machine Learning Framework
      • Application Program Interface (API)
    • Services
      • Deployment & Integration
      • Support & Maintenance

Segmentation by Technology

  • Machine Learning
    • Deep Learning
    • Supervised Learning
    • Reinforcement Learning
    • Unsupervised Learning
    • Others
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision

Segmentation by Application

  • Predictive Maintenance & Machinery Inspection
  • Material Movement
  • Production Planning
  • Field Services
  • Quality Control
  • Cybersecurity
  • Industrial Robots
  • Reclamation

Segmentation by Industry

  • Automobile
  • Energy & Power
  • Pharmaceuticals
  • Heavy Metals & Machinery Manufacturing
  • Semiconductors & Electronics
  • Food & Beverages
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: [email protected]
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/