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Asia Pacific is leading in AI in manufacturing market landscape with over 43% market share in 2018. The market growth is attributed to the presence of highly advanced manufacturing facilities in countries including China, Japan, and South Korea. The widespread adoption of industry 4.0 technologies is also promoting the use of AI solutions.Europe’s AI in manufacturing market is anticipated to grow at a CAGR of over 44% during the forecast timeframe. High investment by the prominent automakers in the region to incorporate advanced production technologies is adding to the growth of the market.
The key vendors in the market are Advanced Micro Devices, Canvas Analytics, General Vision, Graphcore, IBM, Landing AI, SAP, Sight Machine, UBTECH Robotics, Oracle, Progress Software, Qualcomm, Microsoft, Nvidia, Intel, Google, Falkonry, AWS, and Vicarious.
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The energy & power sector is predicted to grow at a CAGR of over 41% during the projected time period. The companies are investing in AI technology due to its ability to adapt to changing environments. This allows the power-generation organizations to create accurate predictions regarding energy demand, reducing their reliance on backup mechanisms.
The artificial intelligence (AI) in manufacturing market for heavy metal & machinery segment is expected to register a growth rate of over 43% during the forecast timeframe. The companies present in the heavy metal machinery sector are using the technology to optimize the raw material consumption and improve melt costs to ensure significant cost savings.
The predictive maintenance and machine inspection application segment for AI in manufacturing market is projected to grow at a CAGR of over 44% over the projected time period. There is a rising pressure on the manufacturing facilities to increase productivity. Maintenance has become a key area to drive major cost savings and production value. The cost of machine downtime has been increasing over time.
The material movement market is predicted to grow at a CAGR of over 43% in the AI in manufacturing market during the projected timeframe. As the skilled labor force is becoming increasingly problematic to retain and recruit, the enterprises are shifting toward AI-enabled machine movement solutions to manage labor issues to ensure efficiency and profitability.
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The computer vision segment is predicted to grow at a CAGR of over 45% during the projected time period. The rise in automation and a widespread adoption of IoT technologies is driving the adoption of computer vision technology in the AI in manufacturing market. The rising need for quality inspection and automation is encouraging the use of computer vision systems.
The machine learning market accounted for over 47% of the revenue in AI in manufacturing market in 2018. The technology is used to warrant quality management at every stage of the manufacturing process. It anticipates product quality at early stages of the production with a high level of precision.
Browse key industry insights spread across 300 pages with 584 market data tables & 27 figures & charts from the report, “Artificial Intelligence (AI) in Manufacturing Market Size By Component (Hardware [Processor {Central Processing Unit (CPU), Graphic Processing Unit (GPU), Field Programmable Gate Array (FPGA), Application Specific Integrated Circuit (ASIC)} Memory], Solution [Software, AI Platform, Application Program Interface(API)], Services [Managed Services, Professional Services), By Technology (Machine Learning (ML), Computer Vision, Context Awareness, Natural Language Processing (NLP)), By Application (Quality Management, Predictive Maintenance & Machinery Inspection, Material Movement, Production Planning, Cybersecurity, Field Services), By End-use (Semiconductor & Electronics, Energy & Power, Pharmaceutical & Chemical, Automobile, Heavy Metals & Machine Manufacturing, Food & Beverages) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Australia, China, India, Japan, Taiwan, Brazil, Mexico, UAE, Israel, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019– 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/artificial-intelligence-ai-in-manufacturing-market
Table of Contents (ToC) of the report:
Chapter 4. Competitive Landscape - AI in manufacturing market, 2018
4.1. Introduction
4.2. Major market players, 2018
4.2.1. NVIDIA
4.2.2. Intel
4.2.3. IBM
4.2.4. AWS
4.2.5. Google
4.3. Innovation leaders, 2018
4.3.1. Canvass Analytics
4.3.2. Falkonry
4.3.3. Graphcore
4.3.4. Landing AI
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/artificial-intelligence-ai-in-manufacturing-market
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