Dublin, May 25, 2020 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Manufacturing Market by Component, Technology (ML, Computer Vision, NLP), Application (Cybersecurity, Robot, Planning), Industry (Electronics, Energy, Automotive, Metals and Machine, Food and Beverages) – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The research report titled Artificial Intelligence in Manufacturing Market by Component, Technology (ML, Computer Vision, NLP), Application (Cybersecurity, Robot, Planning), Industry (Electronics, Energy, Automotive, Metals & Machine, Food & Beverages) – Global Forecast to 2027 provides in-depth analysis of AI in manufacturing market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027. The Artificial Intelligence (AI) in manufacturing market is expected to reach $27 billion by 2027, growing at a CAGR of 39.7% during the forecast period of 2019 to 2027.
The growth in this market is supported by the advent of industrial 4.0, increasing huge & complex amount of dataset, and rising adoption of industrial IoT in several industries. Moreover, increasing volume of data gathered through IoT devices, coupled with the widespread availability of high-speed broadband networks and the emergence of 5G technologies will further contribute to the global artificial intelligence in manufacturing market in the coming years.
The global artificial intelligence in manufacturing market is mainly segmented on the basis of component (hardware, software, services), technology (machine learning, computer vision, natural language processing, context-aware computing), by application (field services, quality management, cybersecurity, industrial robot, predictive maintenance & machinery inspection, material handling, production planning), industry vertical (semiconductors & electronics, energy & power, pharmaceuticals, medical devices, automotive, heavy metals & machine manufacturing, food & beverages), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the AI software segment is estimated to command the largest share of the overall artificial intelligence in manufacturing market in 2020. The large share of this segment is attributed to the factors such as growing usage of learning analytics; growing acceptance of assistants driven by machine learning, NLP, computer vision techniques; and an increase in demand for AI platforms for manufacturing operations.
Based on industry vertical, the automotive sector is estimated to command the largest share of the overall AI in manufacturing market in 2020. However, the heavy metals & machine manufacturing sector is projected to grow with the fastest CAGR during the forecast period. In order to remain competitive, attract new talent, and retain knowledge from an aging workforce, the metal and material manufacturing companies are increasingly adopting smart technologies like Artificial Intelligence (AI). The factors such as growing need to optimize the production line, reduce unplanned downtime, improve operational productivity, reduce cost, and create synergies across the facility fuels the adoption of AI in metal and materials manufacturing sector.
Geographically, the global AI in manufacturing market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The North America region is estimated to command the largest share of the global AI in manufacturing market in 2020. The large share of this region is primarily attributed to the presence of major manufacturing companies and their focus on developing advanced solutions to optimize manufacturing operations and process, along with increasing funding by government for technological advancements. In addition, presence of large number of startups, increasing computing power, growing industrial IoT, rising automation for intelligent business processes, and increasing adoption of robotics in the U.S. and Canada further supports the dominance of this region.
Some of the key players operating in the global AI in manufacturing market are Alphabet, Inc. (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), General Electric Company (U.S.), SAP SE (Germany), Robert Bosch GmbH (Germany), Cisco Systems, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Advanced Micro Devices, Inc. (U.S.), and Sight Machine, Inc. (U.S.), among others.
Key questions answered in the report:
- Which are the high growth market segments in terms of the components, technology, application, industry vertical, and countries?
- What is the historical market for artificial intelligence in manufacturing industries across the globe?
- What are the market forecasts and estimates from the period of 2019-2027?
- What are the major drivers, restraints, and opportunities in the global artificial intelligence in manufacturing market?
- Who are the major players in the global artificial intelligence in manufacturing market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global artificial intelligence in manufacturing market?
- What are the different strategies adopted by the major players in the global artificial intelligence in manufacturing market?
- What are the geographical trends and high growth countries?
- Who are the local emerging players in the global artificial intelligence in manufacturing market and how do they compete with the other players?
Key Topics Covered:
2. Research Methodology
3. Executive Summary
3.1 Market Overview
3.2 Market Analysis, by Component
3.3 Market Analysis, by Technology
3.4 Market Analysis, by Application
3.5 Market Analysis, by Indusrty Vertical
3.6 Market Analysis, by Geography
3.7 Competitive Analysis
4. Market Insights
4.2 Market Dynamics
184.108.40.206 Advent of Industrial 4.0
220.127.116.11 Increasing Huge and Complex Amount of Dataset
18.104.22.168 Rising Adoption of Industrial IoT
22.214.171.124 Lack of Infrastructure & High Procurement Operating cost
126.96.36.199 Growth in Operational Productivity in Manufacturing Operations
188.8.131.52 Rising Demand of AI-Based Applications
184.108.40.206 Concerns Over Data Privacy and Security Breach
220.127.116.11 Growing Usage of Computer Vision in Manufacturing
18.104.22.168 Rising Adoption of 5g Technology
4.3 Key Innovators
4.4 Value Chain Analysis
5. Global Artificial Intelligence in Manufacturing Market, by Component
5.2.2 Networking Solutions
5.2.3 Memory Solutions
5.3.1 AI Platforms
5.3.2 AI Solutions
5.4.1 Deployment & Integration
5.4.2 Support & Maintenance
6. Global Artificial Intelligence in Manufacturing Market, by Technology
6.2 Machine Learning
6.3 Computer Vision
6.4 Natural Language Processing
6.5 Context-Aware Computing
7. Global Artificial Intelligence in Manufacturing Market, by Application
7.2 Field Services
7.3 Quality Management
7.5 Industrial Robot
7.6 Predictive Maintenance & Machinery Inspection
7.7 Material Handling
7.8 Production Planning
8. Global Artificial Intelligence in Manufacturing Market, by Industry Vertical
8.2 Semiconductors & Electronics
8.3 Energy & Power
8.5 Medical Devices
8.7 Heavy Metals & Machine Manufacturing
8.8 Food & Beverages
9. Global Artificial Intelligence in Manufacturing Market, by Region
9.1 North America
9.2.6 Rest of Europe
9.3.4 South Korea
9.3.6 Rest of AsiaPacific
9.4 Latin America
9.5 Middle East and Africa
10. Global Artificial Intelligence in Manufacturing Market-Competitive Landscape
10.1 Competitive Growth Strategies
10.1.3 New Product Launches and Upgradation
10.1.4 Agreements and Partnerships
10.2 Key Players
10.3 Competitive Benchmarking
11. Company Profiles
11.1 Google LLC
11.2 IBM Corporation
11.3 Intel Corporation
11.4 Microsoft Corporation
11.5 Nvidia Corporation
11.6 Oracle Corporation
11.7 Amazon Web Services, Inc.
11.8 Siemens AG
11.9 General Electric Company
11.10 SAP SE
11.11 Robert Bosch GmbH
11.12 Cisco Systems, Inc.
11.13 Rockwell Automation
11.14 Advanced Micro Devices
11.15 Sight Machine
12.2. Available Customizations
For more information about this report visit https://www.researchandmarkets.com/r/yeq5r0
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