Covid-19 Impact on Artificial Intelligence in Manufacturing Market Growth 2020
The global artificial intelligence in manufacturing Industry is expected to exhibit a strong CAGR of more than 45% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global Covid-19 Impact on Artificial Intelligence in Manufacturing Market is expected to be driven by the growing demand for machine learning, computer vision, and other AI applications in the manufacturing sector over the forecast period. The report forecasts the global artificial intelligence in manufacturing Industry to reach a valuation of USD 4.9 billion by 2023. This projection is based upon a detailed analysis of the market’s historical growth trajectory, taking into consideration the impact various key drivers and restraints have had on the market’s growth in the recent past.
The Covid-19 Impact on Artificial Intelligence in Manufacturing Market is mainly driven by the growing use of AI for quality checking and quality enhancement purposes in the manufacturing line. The use of Quality 4.0 principles in the manufacturing sector has led to a growing demand for AI-based quality checking algorithms. Artificial intelligence provides a solid base for quality check programs, as the minutest deviations from the expected norm can be recorded with tools such as machine vision. The use of artificial intelligence also allows a customized configuration of parameters on which to judge the finished products, allowing the manufacturer to keep an eye on various product parameters and ensure high quality standards.
The increasing demand for smooth integration of robotic equipment into the traditionally human-dominated manufacturing sector has also been a major driver for the global artificial intelligence in manufacturing industry. The growing demand for smooth human-machine interfaces in robotic tools and equipment is likely to be a key driver for the artificial intelligence in manufacturing market over the forecast period.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7745
Artificial Intelligence (AI) in manufacturing is expected to be a growing market in the coming years owing to the presence of numerous large players active in the regional market. Nvidia Corporation, Intel, Inc., IBM Corporation, Siemens AG, General Electric company, Google, Inc., Microsoft Corporation, Amazon Web Services, Bosch, Rockwell Automation, Cisco Systems, SAP SE, Foxconn, and others are the companies leading the market globally.
By component, artificial intelligence (AI) in the manufacturing market has been sub-segmented into hardware, software, service. Hardware has been further sub-segmented into processor, memory, and network. Among processors, microprocessor units (MPU), and graphical processor units (GPU) currently holds the largest market share in the market due to their adoption for cutting-edge scientific research, financial modeling, and oil & gas exploration applications. Whereas, FPGA, followed by ASICs are expected to gain high momentum during the forecast period due to increasing market growth of data centers and network communications.
By technology, the artificial intelligence (AI) in the manufacturing market has been segmented into machine learning & deep learning, natural language processing, context-aware computing, and computer vision. Among these, machine learning & deep learning is currently dominating the market due to its adoption in various manufacturing processes for predictive analytics, security, and quality check & inspection process. Whereas, natural language processing is projected to gain high momentum during the forecast period.
By application, the market has been segmented into predictive maintenance, supply chain management, IT management, field services, quality control, robotics, and others. Among these, robotics, followed by predictive maintenance is currently holding the highest market share in artificial intelligence (AI) in manufacturing market. Predictive maintenance market is expected to have high market share throughout the forecast period due to increasing usage of machine learning for inspections, increasing adoption of IoT & connected devices among others.
By vertical, the market has been segmented into automobile, aerospace & defense, energy & power, semiconductor & electronics, food & beverage, pharmaceuticals, and others. Among these, the automotive segment is currently dominating the market, followed by the aerospace & defense segment. Whereas, the pharmaceutical segment is projected to gain high momentum during the forecast period.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Russia, Spain, the Netherlands, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, Singapore, Australia, the Philippines, and South Korea in Asia-Pacific. And the rest of the world has been classified into the Middle East & Africa and South America.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Dynamics
4.1 Market Drivers
4.1.1 Developing Market Of Industry 4.0 And Smart Factories
4.1.2 Increasing Adoption Of Automation By SMEs As Well As Large Enterprises
4.1.3 Development In Advanced Technologies Such As Artificial Intelligence, Machine Learning & Deep Learning
Get New Updates @ https://www.linkedin.com/company/ict-mrfr
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
+1 646 845 9312