Artificial Intelligence in Manufacturing Market to Witness Exponential Growth by 2025
The research documentation on the Artificial Intelligence in Manufacturing Market elucidates details about the drivers and constraints, regional growth opportunities, market size, along with competitive spectrum, prominent contenders in the market, and segmental analysis.
The increasing adoption of trends like industry 4.0 which warrants the enhancement of operational efficiency will drive Artificial Intelligence (AI) in Manufacturing Market size. There is a growing need among the manufacturers to reduce the cost of operation and increase productivity. The implementation of new technologies to study the customer behavior would thus favor the manufacturing of consumer centric products.
AI based solutions are extremely reliable and provide the enterprises with an extensive set of information which helps to improve the operation scalability and so the cost effectivity. Furthermore, the digitalization of data in the manufacturing sector will drive the industry trends. The rising inclinations toward data digitalization is anticipated to promote the incorporation of AI technologies to enable utilization of advanced data analytics solutions.
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The hardware segment holds a substantial share of over 57% in the artificial intelligence in manufacturing market, owing to the increasing implementation of AI technologies across many industry verticals. Within the same, the GPUs are expected to dominate the hardware processor based AI in manufacturing market share pertaining to the high processing capabilities provided at lower cost. The rising prevalence of enhanced visual content will further promote GPU demand in the manufacturing artificial intelligence in manufacturing market.
The growing demand for automated quality checks in the manufacturing facilities is expected to boost the application of machine learning. The technology has been implemented to guarantee the quality assurance at every stage of production. The system works with a high precision level which safeguards the reputation of the manufacturers, owing to which the machine learning will contribute substantially to artificial intelligence in manufacturing market revenue.
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As per estimates, in 2018, machine learning accounted for over 47% revenue of the artificial intelligence in manufacturing market.
Asia Pacific registered a considerable market share of over 43% in 2018, dominating the industry. The growth of the regional market is credited to the presence of manufacturing hubs in the region including China, India, South Korea and Japan. These countries boast of the presence of some of the most developed manufacturing facilities with the rising prevalence of industry 4.0 technologies, which is expected to propel the adoption of AI solutions.
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