In a recent published report, Kenneth Research has updated the market report for Artificial Intelligence in Manufacturing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Artificial Intelligence in Manufacturing Market products.
Kenneth Research, in its repository of market research reports, have recently added a report on Artificial Intelligence in Manufacturing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Artificial Intelligence in Manufacturing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
Kenneth Research has published a detailed report on Artificial Intelligence in Manufacturing Market which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Artificial Intelligence in Manufacturing Market was valued at USD 280.21 million in 2016 and is projected to reach USD 12367.90 million by 2025, growing at a CAGR of 52.32% from 2017 to 2025.
Artificial intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and reacts like humans. Artificial intelligence is one of the technologies that give manufacturers the ability to keep up with the new pace of business. There are several benefits of artificial intelligence in manufacturing industry that includes – increase production capacity, provides more relevant data for better management, , improves preventative maintenance, enables condition monitoring processes, improved product and service quality, and increasing production.
The Final Report will cover the impact analysis of COVID-19 on this industry:
Download Sample of This Strategic Report:
1. Market Drivers
1.1 Increasing operational efficiency of manufacturing plants
1.2 Adoption of industrial IoT and big data technology in manufacturing
1.3 Rising usage of robotics and computer vision technology in manufacturing
1.4 Growing opportunities for AI based technology in developing countries
2. Market Restraints
2.1 Concerns for data privacy
2.2 Poor adoption of AI-based technologies by manufacturers
The Global Artificial Intelligence in Manufacturing Market is segmented on the technology, component, application, vertical, and region.
1.1 Natural Language Processing
1.2 Deep Learning
1.3 Computer Vision
1.4 Context Awareness
2. By Component:
3. By Application:
3.1 Field Services
3.3 Quality Control
3.4 Material Movement
3.5 Predictive Maintenance and Machinery Inspection
3.6 Production Planning
4. By Vertical:
4.1 Food and Beverages
4.4 Semiconductor and Electronics
4.5 Energy and Power
4.6 Heavy Metals and Machine Manufacturing
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. SAP SE
3. Nvidia Corporation
4. Siemens AG
5. Microsoft Corporation
7. General Vision, Inc.
8. Cisco Systems, Inc.
9. Oracle Corporation
10. Intel Corporation
11. Alphabet Inc.
12. General Electric (GE) Company
13. Sight Machine
14. Rockwell Automation Inc.
15. Mitsubishi Electric Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Request For Full Report: https://www.kennethresearch.com/sample-request-10059789
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Artificial Intelligence in Manufacturing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
Phone: +1 313 462 0609