Artificial Intelligence in Manufacturing Market by Offering, By Technology, By Application, By Industry and By Region – Global Opportunities & Forecast, 2020-2027
Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), By Technology (Machine Learning, Natural Language Processing, Computer Vision and Context-Aware Computing), By Application, By Industry and By Region
AI Manufacturing Market witnessed USD 500 million in 2019, growing at a robust CAGR of 57.2% during forecast period.
Artificial Intelligence (AI), also known as machine intelligence, refers to a wide range of branch of computer science concerned with building smart machines that are able to perform tasks which require human intelligence. Artificial Intelligence technology is making its way into the manufacturing sector and various machine-learning technologies and pattern-recognition software are being used to transform the manufacturing process. Machines are equipped with cameras connected to the AI-based software to detect even the smallest defects.
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Major AI Manufacturing Market Drivers
The global artificial intelligence in manufacturing market is projected to experience a sharp growth over the forecast period due to the increasing venture capital investments and the vast availability of big data across the globe. Numerous artificial intelligence technologies are being widely adopted by manufacturers in different industries such as pharmaceuticals, automotive, food and beverages, and energy & power. Additionally, the strong demand for automation, followed by the rapidly evolving industries and industrial IoT is encouraging the manufacturers to opt for different AI-based technologies to capture the changing demand of the target audience.
The emerging demand for hardware platforms and increasing requirements for high-computing processors to run a wide range of AI software will further energize the demand of the market. Moreover, the strong demand for machine learning technologies and computer vision to inspect different machines, followed by the accelerating adoption of AI technologies in factories to reduce machine downtime, improve productivity, and decrease the operational cost will encourage the end-users to opt for different AI technologies in the manufacturing process. The emergence of the COVID-19 crisis will have a positive impact on the market, especially in 2020. The increasing emphasis on staying at homes and maintaining social distance is pushing the manufacturers to opt for AI technologies to bring automation in the manufacturing and minimize the physical contact between the workers, thereby eliminating the possibilities of the spread of the coronavirus.
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Based on the offering, the market is segmented into hardware, software, and services. Among these, the hardware segment is anticipated to dominate the market over the forecast period owing to the accelerating requirement of hardware platforms with high computing power to run different AI software. In addition to this, the strong demand for high-computing processes to run AI algorithms will further surge the growth of the segment over the coming years.
On the basis of technology, the market is segmented into machine learning, natural learning processing, context-aware computing, and computer vision. The machine learning segment is projected to grow at a higher CAGR during the forecast period. This is attributed to the enormous availability of big data and the increasing adoption of machine learning in factories to enhance their productivity, reduce machine downtime, and minimize the operational cost. Machine learning is being increasingly applied in various manufacturing processes such as predictive analytics, machinery inspection, quality control, and other processes owing to its ability to collect and handle big data.
Based on the application, the predictive maintenance and machinery inspection segment is expected to grow at a faster CAGR over the forecast period. The excessive usage of computer vision and machine learning technologies, along with the increasing installation of industrial IoTs, are the major factors that are driving the growth of the segment. Numerous AI technologies are being increasingly used for predictive maintenance and machinery inspection to ensure the proper functioning of the equipment and reduce the rate of deterioration.
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Regional – Segment Analysis
Based on the region, the Asia-Pacific region is projected to lead the market over the forecast period. The accelerated implementation of automation and industrial robots in the manufacturing plants, especially in China, will encourage the manufacturers to opt for AI-based technologies to improve the overall productivity and reduce the downtime. Moreover, the continuous technological advancement, followed by the rapid digitization and favorable government initiatives to promote the adoption of advanced technologies in the developing economies, such as South Korea, China, and India, will directly surge the demand for AI in the manufacturing market.
Top Market Players
Various notable players operating in the market include NVIDIA Corporation, Intel Corporation, IBM, Siemens, General Electric, Google, Microsoft, Micron Technology, Amazon Web Services, Inc., and Sight Machine, among others.
Key Developments:
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- In 2020, Intel Corporation collaborated with the tech ecosystem to combat the COVID-19 situation in India. Intel Corporation has collaborated 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 announced to collaborate with Wipro Limited to assist its customers in embarking on a seamless and secure hybrid cloud journey. Through this alliance, Wipro will leverage IBM cloud offering and technologies to develop industry solutions for clients in manufacturing, healthcare, and other sectors.
- In 2020, Siemens entered into a partnership with NEC Corporation to provide a monitoring and analysis solution for the manufacturing sector that connects MindSphere and NEC’s System Invariant Analysis Technology (SIAT).
Segments covered in the Report:
The global Artificial Intelligence in Manufacturing market has been segmented on the basis of offering, technology, application, industry, and region. Based on offering, the market is segmented into Hardware, Software, and Services. Based on technology, the market is segmented into Machine Learning, Natural Language Processing, Computer Vision and Context-Aware Computing. Based on application, the market is segmented into Predictive Maintenance & Machinery Inspection, Material Movement, Production Planning, Field Services, Quality Control, Cybersecurity, Industrial Robots, Reclamation. Based on industry, the market is segmented into Automobile, Energy & Power, Pharmaceuticals, Heavy Metals & Machinery Manufacturing, Semiconductors & Electronics, Food & Beverages and Others.
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Key questions answered in this research report:
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- At what pace is global Artificial Intelligence in Manufacturing market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Artificial Intelligence in Manufacturing market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Artificial Intelligence in Manufacturing market?
- Which Offering generated maximum revenues in 2019 and identify the most promising Offering during the forecast period?
- What are the various Technologies of global Artificial Intelligence in Manufacturing market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
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Report Coverage |
Details |
| Market Base Year |
2019 |
| Market Forecast Period |
2020-2027 |
| Market Revenues Currency |
USD 500 million |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Offering, By Technology, By Application, By Industry, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | NVIDIA Corporation, Intel Corporation, IBM, Siemens, General Electric, Google, Microsoft, Micron Technology, Amazon Web Services, Inc., and Sight Machine, among others; a total of 10 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Artificial Intelligence in Manufacturing Market by Offering
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- Hardware
- Processor
- MPU
- GPU
- FPGA
- Asic
- Memory
- Network
- Processor
- Software
- AI Solutions
- On-Premises
- Cloud
- AI Platform
- Machine Learning Framework
- Application Program Interface (API)
- Services
- Deployment & Integration
- Support & Maintenance
- AI Solutions
- Hardware
Global Artificial Intelligence in Manufacturing Market by Technology
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- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Others
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
- Machine Learning
Global Artificial Intelligence in Manufacturing Market by Application
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- Predictive Maintenance & Machinery Inspection
- Material Movement
- Production Planning
- Field Services
- Quality Control
- Cybersecurity
- Industrial Robots
- Reclamation
Global Artificial Intelligence in Manufacturing Market by Industry
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- Automobile
- Energy & Power
- Pharmaceuticals
- Heavy Metals & Machinery Manufacturing
- Semiconductors & Electronics
- Food & Beverages
- Others
Global Artificial Intelligence in Manufacturing Market by Region
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North America Artificial Intelligence in Manufacturing Market (Option 1: As a part of the free 25% customization)
- North America Artificial Intelligence in Manufacturing Market by Offering
- North America Artificial Intelligence in Manufacturing Market by Technology
- North America Artificial Intelligence in Manufacturing Market by Application
- North America Artificial Intelligence in Manufacturing Market by Industry
- US Artificial Intelligence in Manufacturing Market All-Up
- Canada Artificial Intelligence in Manufacturing Market All-Up
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Europe Artificial Intelligence in Manufacturing Market (Option 2: As a part of the free 25% customization)
- Europe Artificial Intelligence in Manufacturing Market by Offering
- Europe Artificial Intelligence in Manufacturing Market by Technology
- Europe Artificial Intelligence in Manufacturing Market by Application
- Europe Artificial Intelligence in Manufacturing Market by Industry
- UK Artificial Intelligence in Manufacturing Market All-Up
- Germany All-Up Artificial Intelligence in Manufacturing Market All-Up
- France Artificial Intelligence in Manufacturing Market All-Up
- Spain Artificial Intelligence in Manufacturing Market All-Up
- Rest of Europe Artificial Intelligence in Manufacturing Market All-Up
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Asia-Pacific Artificial Intelligence in Manufacturing Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Artificial Intelligence in Manufacturing Market by Offering
- Asia-Pacific Artificial Intelligence in Manufacturing Market by Technology
- Asia-Pacific Artificial Intelligence in Manufacturing Market by Application
- Asia-Pacific Artificial Intelligence in Manufacturing Market by Industry
- China Artificial Intelligence in Manufacturing Market All-Up
- India Artificial Intelligence in Manufacturing Market All-Up
- Japan Artificial Intelligence in Manufacturing Market All-Up
- Rest of APAC Artificial Intelligence in Manufacturing Market All-Up
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RoW Artificial Intelligence in Manufacturing Market (Option 4: As a part of the free 25% customization)
- RoW Artificial Intelligence in Manufacturing Market by Offering
- RoW Artificial Intelligence in Manufacturing Market by Technology
- RoW Artificial Intelligence in Manufacturing Market by Application
- RoW Artificial Intelligence in Manufacturing Market by Industry
- Brazil Artificial Intelligence in Manufacturing Market All-Up
- South Africa Artificial Intelligence in Manufacturing Market All-Up
- Saudi Arabia Artificial Intelligence in Manufacturing Market All-Up
- UAE Artificial Intelligence in Manufacturing Market All-Up
- Rest of world (remaining countries of the LAMEA region) Artificial Intelligence in Manufacturing Market All-Up
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Major Players Operating the Artificial Intelligence in Manufacturing (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- NVIDIA Corporation
- Intel Corporation
- IBM
- Siemens
- General Electric
- Microsoft
- Micron Technology
- Amazon Web Services, Inc.
- Sight Machine
Frequently Asked Question About This Report
AI Manufacturing Market [ICTES01-00-0719]
The hardware segment is anticipated to dominate the market over the forecast period owing to the accelerating requirement of hardware platforms with high computing power to run different AI software.
The machine learning segment is projected to grow at a higher CAGR during the forecast period. This is attributed to the enormous availability of big data and the increasing adoption of machine learning in factories to enhance their productivity, reduce machine downtime, and minimize the operational cost.
The growth rate of Artificial Intelligence in Manufacturing Market during 2020-2027 is 57.2%.
The Asia-Pacific region is projected to lead the market during the forecast period. The accelerated implementation of automation and industrial robots in the manufacturing plants, especially in China, will encourage the manufacturers to opt for AI-based technologies to improve the overall productivity and reduce the downtime.
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