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IT & TELECOMDISCOUNT VALID TILL 31st-JANUARY , 2022

AI in Manufacturing Market Segmentation by Component (Hardware, Software, and Services); by Application (Production Management, Planning Control, Machinery Inspection, Predictive Management, and Others); and by End-User (Automotive, Electronics, Semiconductor, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of AI in Manufacturing Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • November, 2021: Habana Labs, a subsidiary of Intel Company, announced the collaboration with DDN and Supermicro, to provide enterprise-scale artificial intelligence (AI) training solution. This features the Supermicro X12 Gaudi AI training server and DDN AI400X2 storage system.

  • June, 2020: Wipro limited to collaborate with IBM corporation to provide security across public or private cloud and on-premises IT environments.

Global AI in Manufacturing Market Highlights over 2022 – 2030

The global AI in manufacturing market is estimated to grow at a CAGR of ~25% over the forecast period, i.e., 2022 – 2030. The growth of the market can primarily be attributed to the increasing penetration of advanced technologies, such as, artificial intelligence, machine learning, and augmented reality in the manufacturing industry. With the help of AI, manufacturers can test for design errors in their product. Moreover, product designers can use the inbuilt algorithm and machine learning tools while designing their products. Besides, artificial intelligence has the ability to enhance compatibility, safety, and reduce cost of manufacturing. Along with this, the rapidly growing investment in AI technology, and the rising revenue generated by AI industry, are forecasted to boost the market growth. It is observed that AI industry generated a revenue of around USD 325 billion in 2021.  Moreover, the increasing investment in the manufacturing sector, especially automotive sector, is anticipated to boost the market growth. In addition to this, the growing advancements in technology, backed by rising investment in R&D activities, is foreseen to boost the market growth.

AI in Manufacturing Market

The market is segmented by end-user into automotive, electronics, semiconductor, and others, out of which, the automotive segment is anticipated to hold the notable share in the global AI in manufacturing market over the forecast period. This can be attributed to the need of high accuracy and precision for manufacturing any automobile, which is easier to achieve with the help of AI. Moreover, application of AI in manufacturing automobiles can make the process cost effective, which is further estimated to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

AI in Manufacturing Market Research and Development Expenditure The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global AI in Manufacturing Market Regional Synopsis

On the basis of geographical analysis, the global AI in manufacturing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing manufacturing sector in the region, backed by rapid development of countries, such as, Japan, India, Singapore, South Korea, and others. Moreover, the presence of major automotive and electronics manufacturers in the APAC region, coupled with rising adoption of advanced technology is estimated to boost the regional market growth. The increasing demand for automobiles is also anticipated to boost the market growth. For instance, according to the data by India Brand Equity Foundation (IBEF), in 2019-20, the total passenger vehicles sales in India crossed 2.8 million units. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of major market players in the region, along with availability of advanced technology in the region. Moreover, adoption of industrial IOT in the region is further anticipated to fuel the market growth.

AI In Manufacturing Market ShareThe global AI in manufacturing market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global AI in manufacturing market includes the following segments:

By Component

  • Hardware
  • Software 
  • Services

By Application

  • Production Management
  • Planning Control
  • Machinery Inspection
  • Predictive Management
  • Others

By End-User

  • Automotive
  • Electronics
  • Semiconductor
  • Others

Growth Drivers

  • Growing Adoption of Artificial Intelligence Globally
  • Rising Adoption of Industry 5.0 amongst the Manufacturing Sector

Challenges

  • Lack of Skilled Workforce
  • High Initial Investment in the Industry

Top Featured Companies Dominating the Market

  • Siemens AG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • General Electric Company
  • Microsoft Corporation
  • Intel Corporation
  • Alphabet Inc.
  • International Business Machines Corporation
  • General Vision Inc.
  • Rockwell Automation Inc.
  • SAP SE
  • Cisco Systems, Inc.

 

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