Artificial Intelligence in Manufacturing Market 2021 | Top Impacting Factors That Could Escalate Market’s Rapid Growth
increasing number of large and complex datasets, evolving Industrial IoT and automation, improving computing power, and increasing venture capital investments.
PORTLAND, PORTLAND, OR , UNITED STATES, August 24, 2021 /EINPresswire.com/ — The advent of industrial 4.0, increasing huge & complex amounts of dataset, and rising adoption of industrial IoT in manufacturing industry the key factors driving the growth of artificial intelligence in manufacturing market.
Rise in demand for artificial intelligence in manufacturing due to increasing adoption of Internet of Things and rise in awareness about customer satisfaction augment the growth of the global artificial intelligence in manufacturing market. However, high cost of implementing this technology and high threat to human dignity restrain the market growth. Moreover, expansion of smarter and efficient robots is anticipated to offer lucrative opportunities to the market, in the near future.
The global artificial intelligence in manufacturing market size was $513.6 million in 2017, and is anticipated to reach at $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 projected to contribute to the highest share in the global artificial intelligence in manufacturing market during the forecast period. On the other hand, on the basis of industry segment, the automobile segment is expected to dominate the market in terms of revenue in 2017. This is owing to the capability of artificial intelligence to execute manufacturing processes with less errors along with expanding the production.
Download Sample Report (Get Full Insights in PDF – 307 Pages) at:https://www.alliedmarketresearch.com/request-sample/4747
Profiling Key Players: 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 a major part of the manufacturing industry which, in turn, impedes the adoption of artificial intelligence by companies. However, certain manufacturing companies including food & beverages and pharmaceuticals are permitted to continue the production amid COVID-19. Moreover, the global lockdown has urged other manufacturing companies to halt the production.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4747
Key Findings of the Artificial Intelligence in Manufacturing Market:
1. In terms of application, the predictive maintenance and machinery inspection segment dominated the market in terms of revenue in 2017, and is anticipated to maintain its lead position throughout the study period. In addition, the segment is estimated to grow at a CAGR of 54.9% during the forecast period.
2. Based on region, North America generated the highest market share in terms of revenue in 2017. Furthermore, the region is anticipated to grow at a CAGR of 55.5% from 2017 to 2025.
3. Based on technology, the computer vision segment held the highest revenue share in 2017, and is estimated to grow at a CAGR of 56.0% from 2017 to 2025.
4. In Asia-Pacific region, China contributed for the largest market share in 2017.
Buy this Report at: https://www.alliedmarketresearch.com/checkout-final/def43181f5b0d79b81bb97f8e251d6cb
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia at:
https://www.alliedmarketresearch.com/request-for-customization/4747
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Similar Reports –
2. AI in Telecommunication Market
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Analytics LLP
5034461141 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
