Artificial Intelligence in Manufacturing Market - Global Forecast to 2025: Market is Forecast to grow at a CAGR of 49.5%

News provided by

Feb 27, 2019, 12:30 ET

DUBLIN, Feb. 27, 2019 /PRNewswire/ -- The "Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), Technology (Machine Learning, Computer Vision, Context-Aware Computing, and NLP), Application, Industry, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The AI in manufacturing market is expected to grow from USD 1.0 billion in 2018 to USD 17.2 billion by 2025, at a CAGR of 49.5% during the forecast period.

Increasingly large and complex data set available in the form of big data and evolution of industrial IoT and automation are the key drivers of this market. Improving computing power, declining hardware cost, and increasing venture capital investments are the other factors fuelling the growth of this market. However, reluctance among manufacturers to adopt AI-based technologies and lack of awareness among small and medium-sized businesses are among the major factors restraining the growth of the AI in manufacturing market. Also, high power requirement from machine learning hardware, especially during network training, is limiting the growth of the said market.

Hardware segment to witness highest growth rate among other offerings during forecast period

Increasing need for hardware platforms with high computing power to run various AI software is the key factor accelerating the growth of hardware devices in the manufacturing market. The AI in manufacturing market is segmented on the basis of hardware into processor, memory, and network. The large presence of major companies that contribute to the AI sector are located in North America and has made the region a major market for AI hardware.

Machine learning to hold largest market followed by computer vision in AI manufacturing market

Machine learning's ability to collect and handle big data and its applications in various manufacturing applications such as predictive analytics and machinery inspection, quality control, and cybersecurity are fueling its growth. The growing adoption of computer vision in applications such as industrial robots, quality control, and material movement is propelling the growth of this technology in the AI in manufacturing market. Computer vision analyzes the information of different geometric shapes, volumes, and patterns, and provides visual feedback to the user, which is further used to draw the inference. The fundamental objective of computer vision technology is to interpret the picture obtained through a high-resolution camera.

Automobile industry to hold largest market during forecast period

The automobile industry is expected to hold the largest size of AI in manufacturing market during the forecast period. Extensive use of AI technologies, especially machine learning and computer vision in machinery inspection, installations of industrial IoT, and usage of big data, is driving the growth of the AI in manufacturing market for the automobile industry. Moreover, to reduce costs and improve the quality of vehicle production, automobile makers have started using computer vision and machine learning technology.

APAC to witness highest growth followed by North America from 2018 to 2025

APAC, especially in China, Japan, and South Korea, is considered the largest market for industrial robots. The industrial robots generate a huge amount of data. This data is used in deep learning algorithm to further train the robots. This would act as one of the major drivers for the AI in manufacturing market in APAC. Cross-industry participation in the manufacturing domain, along with a significant increase in venture capital investment, has propelled the growth of the AI in manufacturing market in North America.

Prominent players profiled in this report are

NVIDIA Corporation (US)
IBM Corporation (US)
Alphabet Inc. (Google) (US)
Microsoft Corporation (US)
Intel Corporation (US)
AWS (US)
Sight Machine (US)
Siemens AG (Germany)
General Electric Company (US)

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in AI in Manufacturing Market
4.2 AI in Manufacturing Market, By Offering
4.3 AI in Manufacturing Market, By Technology
4.4 APAC: AI in Manufacturing Market, By Industry and Country
4.5 AI in Manufacturing Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasingly Large and Complex Data Set
5.2.1.2 Evolving Industrial IoT and Automation
5.2.1.3 Improving Computing Power and Declining Hardware Cost
5.2.1.4 Increasing Venture Capital Investments
5.2.2 Restraints
5.2.2.1 Reluctance Among Manufacturers to Adopt AI-Based Technologies
5.2.3 Opportunities
5.2.3.1 Growth in Operational Efficiency of Manufacturing Plants
5.2.3.2 Application of AI for Intelligent Business Process
5.2.4 Challenges
5.2.4.1 Limited Skilled Workforce
5.2.4.2 Concerns Regarding Data Privacy
5.3 Value Chain Analysis
5.4 Case Studies
5.4.1 Siemens Games Uses Fujitsu's AI Solution to Accelerate Inspection of Turbine Blades
5.4.2 Volvo Uses Machine Learning-Driven Data Analytics for Predicting Breakdown and Failures
5.4.3 Rolls-Royce Using Microsoft Cortana Intelligence for Predictive Maintenance
5.4.4 Paper Packaging Firm Used Sight Machines Enterprise Manufacturing Analytics to Improve Production

6 Artificial Intelligence in Manufacturing Market, By Offering
6.1 Introduction
6.2 Hardware
6.2.1 Processor
6.2.1.1 MPU
6.2.1.1.1 MPUs to Hold the Largest Share of AI in Manufacturing Market for Processors During the Forecast Period
6.2.1.2 GPU
6.2.1.2.1 GPUs to Grow at the Highest CAGR During the Forecast Period
6.2.1.3 FPGA
6.2.1.3.1 Low Power Consumption and Low Latency Expected to Drive the Market for FPGA
6.2.1.4 Asic
6.2.1.4.1 User-Specific Customized Solution Offered By Asic to Drive Its Market
6.2.2 Memory
6.2.2.1 High-Bandwidth Memory is Being Developed and Deployed for AI Applications, Independent of Its Computing Architecture
6.2.3 Network
6.2.3.1 Nvidia (US), Intel (US) and Mellanox Technologies (Israel) are the Key Providers of Network Interconnect Adapters for AI Applications
6.3 Software
6.3.1 AI Solutions
6.3.1.1 On-Premises
6.3.1.1.1 Data-Sensitive Enterprises Prefer On-Premise Advanced Nlp and Ml Tools to Be Used in AI Solutions
6.3.1.2 Cloud
6.3.1.2.1 AI Solution Providers are Focusing on the Development of Robust Cloud-Based Solutions for Their Clients
6.3.2 AI Platform
6.3.2.1 Machine Learning Framework
6.3.2.1.1 Major Tech Companies Such as Google, IBM, and Microsoft are Developing and Offering Their Own Ml Frameworks
6.3.2.2 Application Program Interface (API)
6.3.2.2.1 An API Provides A Platform for A Set of Routines and Tools for Building Software Applications
6.4 Services
6.4.1 Deployment & Integration
6.4.1.1 Deployment and Integration is A Key Service Required for Configuring AI Systems in Manufacturing
6.4.2 Support & Maintenance
6.4.2.1 The Ultimate Objective of Maintenance Services is to Keep the System at an Acceptable Standard

7 Artificial Intelligence in Manufacturing Market, By Technology
7.1 Introduction
7.2 Machine Learning
7.2.1 Deep Learning
7.2.1.1 Deep Learning Uses Artificial Neural Networks to Learn Multiple Levels of Data
7.2.2 Supervised Learning
7.2.2.1 Classification and Regression are Major Segmentation of Supervised Learning
7.2.3 Reinforcement Learning
7.2.3.1 Reinforcement Learning Allows Systems and Software to Determine Ideal Behavior for Maximizing Performance of the Systems
7.2.4 Unsupervised Learning
7.2.4.1 Unsupervised Learning Include Clustering Methods Consisting of Algorithms With Unlabeled Training Data
7.2.5 Others
7.3 Natural Language Processing
7.3.1 Nlp is Developed for Making Real-Time Translation and Developing Systems That Can Interact Through Dialogues
7.4 Context-Aware Computing
7.4.1 Development of More Sophisticated Hard and Soft Sensors has Accelerated the Growth of Context-Aware Computing
7.5 Computer Vision
7.5.1 Computer Vision Analyzes the Information of Different Geometric Shapes, Volumes, and Patterns

8 Artificial Intelligence in Manufacturing Market, By Application
8.1 Introduction
8.2 Predictive Maintenance and Machinery Inspection
8.2.1 Predictive Maintenance and Machinery Inspection Provide the Framework for All Planned Maintenance Activities
8.3 Material Movement
8.3.1 AI-Based Technology for Material Movement Will Ensure Streamlining of In-Plant Logistics
8.4 Production Planning
8.4.1 The Use of AI in Production Planning Leads to the Standardization of Product and Process Sequence
8.5 Field Services
8.5.1 Field Services are Extensively Used in Heavy Metals and Machine Manufacturing, Oil & Gas, and Energy and Power Industry
8.6 Quality Control
8.6.1 AI-Based Quality Control System is Widely Used in Pharmaceuticals, Food & Beverages, and Semiconductor Industries
8.7 Cybersecurity
8.7.1 Automation and Integrating Real-Time Systems in Manufacturing is Resulting in Adoption of Cybersecurity Systems
8.8 Industrial Robots
8.8.1 Industrial Robots Can Be Classified Into Traditional Industrial Robots and Collaborative Robots
8.9 Reclamation
8.9.1 in Reclamation, AI-Based Systems Detect Important Components From Waste Or Slags

9 Artificial Intelligence in Manufacturing Market, By Industry
9.1 Introduction
9.2 Automobile
9.2.1 Machine Learning and Computer Vision are the Major AI Technologies Deployed in Automobile Industry
9.3 Energy and Power
9.3.1 AI-Based Solutions Can Help Energy and Power Industry to Enhance Production Output and Reduced Downtime
9.4 Pharmaceuticals
9.4.1 Quality Control, Material Movement, and Production Planning are the Major Applications of AI in Pharmaceuticals
9.5 Heavy Metals and Machine Manufacturing
9.5.1 APAC is Considered to Have the Highest Number of Heavy Metals and Machine Manufacturing Plants in the World
9.6 Semiconductors and Electronics
9.6.1 AI is Likely to Assist in Optimizing the Production Cost, Technology Implementation, and Integration of Components
9.7 Food & Beverages
9.7.1 AI-Based Solutions Enhance the Quality of the Food Production Cost-Effectively
9.8 Others

10 Artificial Intelligence in Manufacturing Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players, 2017
11.3 Competitive Scenario
11.3.1 Product Launches and Developments
11.3.2 Collaborations, Partnerships, and Agreements
11.3.3 Acquisitions & Joint Ventures

12 Company Profiles

Aibrain
Alphabet Inc
Amazon Web Services (AWS)
Arimo Inc.
Cisco Systems
Citrine Informatics
Clearpath Robotics Inc.
CloudMinds Technologies
DarkTrace
DataRobot
General Electric (GE) Company
General Vision
Google
IBM
Intel
Kespry Inc.
Micron Technology
Microsoft
Mitsubishi Electric
Nvidia
Omron Adept Technologies Inc.
Oracle
Preferred Networks Inc.
Progress Software Corporation (Datarpm)
Rockwell Automation
SAP
Siemens
Sight Machine
SkyMind, Inc.
Tamr Inc.
Ubtech Robotics
Vicarious

For more information about this report visit https://www.researchandmarkets.com/research/r4hskg/artificial?w=5

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets