Artificial intelligence in the manufacturing market generates new growth opportunities by 2025

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Artificial intelligence in the manufacturing market is expected to grow at a high rate due to the acceleration of innovations in industrial IoT and automation.

PORTLAND, PORTLAND, OR, UNITED STATES, January 10, 2022 /EINPresswire.com/ – Increasing demand for artificial intelligence in manufacturing due to increasing adoption of Internet of Things and awareness of customer satisfaction is increasing the growth of global artificial intelligence on the market. manufacturing market.

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However, the high cost of implementing this technology and the high threat to human dignity is holding back the growth of the market. In addition, the expansion of smarter and more efficient robots is expected to provide lucrative opportunities to the market in the near future.

According to the report published by Allied Market Research, the artificial intelligence in the manufacturing market The size was $ 513.6 million in 2017 and is expected to reach $ 15.27 billion by 2025, growing at a CAGR of 55.2% during the forecast period.

In terms of deployment, the on-premise segment is expected to contribute the highest share of global artificial intelligence in the manufacturing market during the forecast period.

On the other hand, based on the industry segment, the automotive segment is expected to dominate the market in terms of revenue in 2017. This is due to the ability of artificial intelligence to run manufacturing processes with less money. errors while increasing production.

Key players presented in the Global Artificial Intelligence in Manufacturing Market report include General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, Mitsubishi Electric Corporation, Cisco Systems, Inc., NVIDIA Corporation, Siemens AG, Oracle Corporation and. Bosch.

COVID-19 scenarios:

The global pandemic has affected much of the manufacturing industry which, in turn, is hampering the adoption of artificial intelligence by businesses. However, some manufacturing companies, including food and beverage and pharmaceuticals, are allowed to continue production amid COVID-19. Additionally, the global lockdown has urged other manufacturing companies to stop production.

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Key Findings of Artificial Intelligence in the Manufacturing Market:

• In terms of application, the predictive maintenance and machine inspection segment dominated the market in terms of revenue in 2017 and is expected to maintain its leading position throughout the study period. Additionally, the segment is expected to grow at a CAGR of 54.9% during the forecast period.

• Based on region, North America generated the highest market share in terms of revenue in 2017. In addition, the region is expected to grow at a CAGR of 55.5% from 2017 to 2025.

• On the basis of technology, the computer vision segment held the highest revenue share in 2017 and is expected to grow at a CAGR of 56.0% from 2017 to 2025.

• In the Asia-Pacific region, China contributed the largest market share in 2017.

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Associated reports:

1. Artificial intelligence in the education market

2. Artificial intelligence in the marketing market

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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

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