Artificial Intelligence in Manufacturing Market by Offering (Hardware, and Software), Technology (Deep Learning, Computer Vision, Context Awareness, and Natural Language Processing), Application, Industry, and Geography - Global Forecast to 2023

The artificial intelligence (AI) in manufacturing market is expected to grow from USD 272.5 Million in 2016 to USD 4,882.9 Million by 2023, growing at a CAGR of 52.42% during the forecast period. The base year considered for the study is 2016, and the market forecast is provided for the period between 2017 and 2023.

Objective of the Study:

• To provide detailed information regarding the major factors influencing the growth of Artificial Intelligence in manufacturing market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contribution to the overall Artificial Intelligence in manufacturing market
• To define, describe, segment, and forecast the artificial intelligence (AI) in manufacturing market segmented on the basis of offering, technology, application, and industry
• To forecast the size of market segments and key technological developments with respect to four main regions North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
• To strategically profile the key players and comprehensively analyze their market share and core competencies
• To analyze the competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the Artificial Intelligence in manufacturing market
• To conduct market life cycle analysis along with technology and market roadmaps

Research Methodology:

This research study involves an extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial study of the Artificial Intelligence in manufacturing market. The bottom-up procedure was employed to arrive at the overall size of the Artificial Intelligence in manufacturing market from the revenue of the key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents is depicted in the following figure:

To know about the assumptions considered for the study, download the pdf brochure

This report provides valuable insights into the ecosystem of the Artificial Intelligence in manufacturing market including software, chipset, and manufacturing solution companies. The major players in the AI in manufacturing market are Siemens AG (Germany), Intel Corporation (US), NVIDIA Corporation (us), Alphabet Inc. (us), IBM Corporation, Microsoft Corporation (US), General Electric Company (US), DataRPM, Sight Machine (US), General Vision, Inc. (US), AIBrain, Inc. (US), Rockwell, Automation Inc. (US), Cisco Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), Oracle Corporation (US), SAP SE (Germany), Preferred Networks, Inc. (Japan), Vicarious Inc. (US), Skymind Inc.(US), Citrine Informatics (US), CloudMinds Technologies (US),  and Ubtech Robotics Corp. (China).

Key Target Audience

• Chipset companies
• Energy and power companies
• Automobile companies
• Aircraft companies
• Textile companies
• Heavy metal industries
• Food and beverages companies
• Packaging industries
• Pharmaceutical companies
• Semiconductor and electronics manufacturers
• Electrical companies
• Technology providers
• Software solution providers
• AI system providers
• Research organizations and manufacturing consulting companies
• Angel investors, venture capitalists, private equity firms, and start-up companies

Scope of the Report:

The research report segments the Artificial Intelligence in manufacturing market into the following submarkets:

By Offering:

• Hardware
• Software

By Technology:

• Deep Learning
• Computer Vision
• Context Awareness
• Natural Language Processing

By Application

• Material Movement
• Predictive Maintenance and Machinery Inspection
• Production Planning
• Field Services
• Reclamation
• Quality Control

By Industry

• Semiconductor and Electronics
• Energy and Power
• Pharmaceuticals
• Automobile
• Heavy Metals and Machine Manufacturing
• Food and Beverages
• Others (Textiles & Aerospace)

By Geography:

• North America
• Europe
• Asia Pacific (APAC)
• Rest of the World (RoW)

Available Customizations:

• Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
                    2.1.1.1 Key Industry Insights
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Key Data From Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Primary Interviews With Experts
                    2.1.3.2 Breakdown of Primaries
                    2.1.3.3 Key Data From Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Data Triangulation
    2.4 Research Assumptions
    2.5 Demand- and Supply-Side Analysis of AI in the Manufacturing Market
           2.5.1 Introduction
           2.5.2 Demand-Side Analysis
                    2.5.2.1 Growth in Business Outlook in the Manufacturing Sector
                    2.5.2.2 Shortage of Skilled Labor
                    2.5.2.3 Rising Wages of Labor
           2.5.3 Supply-Side Analysis
                    2.5.3.1 Cross-Industry Partnership in the Manufacturing Domain

3 Executive Summary (Page No. - 34)

4 Premium Insights (Page No. - 41)
    4.1 Global Artificial Intelligence in Manufacturing Market
    4.2 AI in Manufacturing Market By Offerings
    4.3 AI in Manufacturing Market By Technology
    4.4 AI in Manufacturing Market, By Application and Geography
    4.5 AI in Manufacturing Market By Geography in 2016

5 Market Overview (Page No. - 45)
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Big Data Technology in Manufacturing
                    5.1.1.2 Industrial IoT in Manufacturing
                    5.1.1.3 Extensive Usage of Robotics in Manufacturing
                    5.1.1.4 Computer Vision Technology in Manufacturing
                    5.1.1.5 Significant Increase in Venture Capital Investments
           5.1.2 Restraints
                    5.1.2.1 Reluctance Among the Manufacturers to Adopt AI-Based Technologies
           5.1.3 Opportunities
                    5.1.3.1 Significant Growth Opportunities for AI-Based Technology in Emerging and Developed Countries
                    5.1.3.2 Improving Operational Efficiency of Manufacturing Plants
           5.1.4 Challenges
                    5.1.4.1 Concerns Regarding Data Privacy

6 Industry Trends (Page No. - 51)
    6.1 Introduction
    6.2 Value Chain Analysis of AI in Manufacturing
    6.3 Funding

7 Artificial Intelligence in Manufacturing Market, By Offering (Page No. - 54)
    7.1 Introduction
    7.2 Hardware
    7.3 Software
           7.3.1 AI Platform
           7.3.2 AI Solution

8 Artificial Intelligence in Manufacturing Market, By Technology (Page No. - 66)
    8.1 Introduction
    8.2 Computer Vision
    8.3 Deep Learning
    8.4 Natural Language Processing (NLP)
    8.5 Context Awareness

9 Artificial Intelligence in Manufacturing Market, By Application (Page No. - 75)
    9.1 Introduction
    9.2 Predictive Maintenance and Machinery Inspection
    9.3 Material Movement
    9.4 Production Planning
    9.5 Field Services
    9.6 Quality Control
    9.7 Reclamation

10 Artificial Intelligence in Manufacturing Market, By Industry (Page No. - 88)
     10.1 Introduction
     10.2 Automobile
     10.3 Energy and Power
     10.4 Pharmaceuticals
     10.5 Heavy Metals and Machine Manufacturing
     10.6 Semiconductor and Electronics
     10.7 Food and Beverages
     10.8 Others

11 Geographic Analysis (Page No. - 99)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 Germany
             11.3.2 France
             11.3.3 UK
             11.3.4 Rest of Europe
     11.4 APAC
             11.4.1 China
             11.4.2 Japan
             11.4.3 South Korea
             11.4.4 India
             11.4.5 Rest of APAC
     11.5 Rest of the World
             11.5.1 South America
             11.5.2 Middle East and Africa

12 Competitive Landscape (Page No. - 123)
     12.1 Overview
     12.2 Market Ranking Analysis in AI Manufacturing Market
     12.3 Competitive Leadership Mapping, 2016
             12.3.1 Visionary Leaders
             12.3.2 Dynamic Differentiators
             12.3.3 Innovators
             12.3.4 Emerging Companies
     12.4 Competitive Benchmarking
             12.4.1 Business Strategy Excellence (For All 25 Players)
             12.4.2 Strength of Product Portfolio (25 Companies)

*Top 25 Companies Analyzed for This Study are - Nvidia Corporation, IBM Corporation, Intel Corporation, Alphabet Inc., Siemens AG, General Electric Company, Microsoft Corporation, Datarpm, Clearpath Robotics Inc., Sight Machine, General Vision Inc., Rockwell Automation Inc., Skymind, Inc., Preferred Networks Inc., Kespry, Inc., Omron Adept Technologies, Inc, Aibrain, Inc., Vicarious Inc., Cloudminds Technologies, Citrine Informatics, Datarobot, Ubtech Robotics Corp., Arimo, Inc., Tamr, Inc., Darktrace

13 Company Profiles (Page No. - 129)
(Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships)*
     13.1 Introduction
     13.2 Siemens AG
     13.3 Intel Corporation
     13.4 Nvidia Corporation
     13.5 Alphabet Inc.
     13.6 IBM Corporation
     13.7 Microsoft Corporation
     13.8 General Electric (GE) Company
     13.9 Datarpm
     13.10 Sight Machine
     13.11 General Vision, Inc.
     13.12 Aibrain
     13.13 Rockwell Automation Inc.
     13.14 Cisco Systems, Inc.
     13.15 Mitsubishi Electric Corporation
     13.16 Oracle Corporation
     13.17 SAP SE
     13.18 Start-Up Ecosystem
             13.18.1 Preferred Networks, Inc.
             13.18.2 Vicarious Inc.
             13.18.3 Skymind, Inc.
             13.18.4 Citrine Informatics
             13.18.5 Cloudminds Technologies
             13.18.6 Ubtech Robotics Corp.

*Details on Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 181)
     14.1 Insights From Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details

List of Tables (61 Tables)

Table 1 Funding in AI in Manufacturing 2012-2016
Table 2 Artificial Intelligence in Manufacturing Market, By Offering, 2014–2023 (USD Million)
Table 3 AI in Manufacturing Market, By Hardware, 2014–2023 (USD Million)
Table 4 AI in Manufacturing Market for Hardware, By Region, 2014–2023 (USD Million)
Table 5 AI in Manufacturing Market for Hardware in North America, By Country, 2014–2023 (USD Million)
Table 6 AI in Manufacturing Market for Hardware in Europe, By Country, 2014–2023 (USD Million)
Table 7 AI in Manufacturing Market for Hardware in APAC, By Country, 2014–2023 (USD Million)
Table 8 AI in Manufacturing Market for Hardware in RoW, By Country, 2014–2023 (USD Million)
Table 9 AI in Manufacturing Market for Offering, By Software, 2014–2023 (USD Million)
Table 10 Artificial Intelligence in Manufacturing Market for Software, By Region, 2014–2023 (USD Million)
Table 11 AI in Manufacturing Market for Software in North America, By Country, 2014–2023 (USD Million)
Table 12 AI in Manufacturing Market for Software in Europe, By Country, 2014–2023 (USD Million)
Table 13 AI in Manufacturing Market for Software in APAC, By Country, 2014–2023 (USD Million)
Table 14 AI in Manufacturing Market for Software in RoW, By Country, 2014–2023 (USD Million)
Table 15 AI in Manufacturing Market, By Technology, 2014–2023 (USD Million)
Table 16 AI in Manufacturing Market for Computer Vision, By Application, 2014–2023 (USD Million)
Table 17 AI in Manufacturing Market for Deep Learning, By Process, 2014–2023 (USD Million)
Table 18 AI in Manufacturing Market for Deep Learning, By Application, 2014–2023 (USD Million)
Table 19 AI in Manufacturing Market for NLP, By Application, 2014–2023 (USD Million)
Table 20 Artificial Intelligence in Manufacturing Market for Context Awareness, By Application, 2014–2023 (USD Million)
Table 21 AI in Manufacturing Market, By Application, 2014–2023 (USD Million)
Table 22 AI in Manufacturing Market for Predictive Maintenance and Machinery Inspection, By Region, 2014–2023 (USD Million)
Table 23 AI in Manufacturing Market for Predictive Maintenance and Machinery Inspection, By Technology, 2014–2023 (USD Million)
Table 24 AI in Manufacturing Market for Material Movement, By Region, 2014–2023 (USD Million)
Table 25 AI in Manufacturing Market for Material Movement, By Technology, 2014–2023 (USD Million)
Table 26 AI in Manufacturing Market for Production Planning, By Region, 2014–2023 (USD Million)
Table 27 AI in Manufacturing Market for Production Planning, By Technology, 2014–2023 (USD Million)
Table 28 AI in Manufacturing Market for Field Services, By Region, 2014–2023 (USD Million)
Table 29 AI in Manufacturing Market for Field Services, By Technology, 2014–2023 (USD Million)
Table 30 AI in Manufacturing Market for Quality Control, By Region, 2014–2023 (USD Million)
Table 31 AI in Manufacturing Market for Quality Control, By Technology, 2014–2023 (USD Million)
Table 32 AI in Manufacturing Market for Reclamation, By Region, 2014–2023 (USD Million)
Table 33 AI in Manufacturing Market for Reclamation, By Technology, 2014–2023 (USD Million)
Table 34 AI in Manufacturing Market, By Industry, 2014–2023 (USD Million)
Table 35 AI in Manufacturing Market for Automobile, By Region, 2014–2023 (USD Million)
Table 36 AI in Manufacturing Market for Energy and Power, By Region, 2014–2023 (USD Million)
Table 37 AI in Manufacturing Market for Pharmaceuticals, By Region, 2014–2023 (USD Million)
Table 38 AI in Manufacturing Market for Heavy Metals and Machine Manufacturing, By Region, 2014–2023 (USD Million)
Table 39 AI in Manufacturing Market for Semiconductor and Electronics, By Region, 2014–2023 (USD Million)
Table 40 Artificial Intelligence in Manufacturing Market for Food and Beverages, By Region, 2014–2023 (USD Million)
Table 41 AI in Manufacturing Market for Others, By Region, 2014–2023 (USD Million)
Table 42 AI in Manufacturing Market, By Region, 2014–2023 (USD Million)
Table 43 AI in Manufacturing Market in North America, By Country, 2014-2023 (USD Million)
Table 44 AI in Manufacturing Market in US, By Offering, 2014–2023 (USD Million)
Table 45 AI in Manufacturing Market in Canada, By Offering, 2014–2023 (USD Million)
Table 46 AI in Manufacturing Market in Mexico, By Offering, 2014–2023 (USD Million)
Table 47 AI in Manufacturing Market in Europe, By Country, 2014–2023 (USD Million)
Table 48 AI in Manufacturing Market in Germany, By Offering, 2014–2023 (USD Million)
Table 49 AI in Manufacturing Market in France, By Offering, 2014–2023 (USD Million)
Table 50 Artificial Intelligence in Manufacturing Market in UK, By Offering, 2014–2023 (USD Million)
Table 51 AI in Manufacturing Market in RoE, By Offering, 2014–2023 (USD Million)
Table 52 AI in Manufacturing Market in APAC, By Country, 2014–2023 (USD Million)
Table 53 AI in Manufacturing Market in China, By Offering, 2014–2023 (USD Million)
Table 54 AI in Manufacturing Market in Japan, By Offering, 2014–2023 (USD Million)
Table 55 AI in Manufacturing Market in South Korea, By Offering, 2014–2023 (USD Million)
Table 56 AI in Manufacturing Market in India, By Offering, 2014–2023 (USD Million)
Table 57 AI in Manufacturing Market in Rest of APAC, By Offering, 2014–2023 (USD Million)
Table 58 AI in Manufacturing Market in RoW, By Region, 2014–2023 (USD Million)
Table 59 AI in Manufacturing Market in South America, By Offering, 2014–2023 (USD Million)
Table 60 Artificial Intelligence in Manufacturing Market in Middle East and Africa, By Offering, 2014–2023 (USD Million)
Table 61 Top 5 Players in AI in Manufacturing Market, 2016

List of Figures (58 Figures)

Figure 1 Artificial Intelligence in Manufacturing Market: Segmentation
Figure 2 AI in Manufacturing Market: Research Design
Figure 3 Process Flow of Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Manufacturing Business Outlook Index in US Between 2013 (First Quarter) and 2017 (First Quarter)
Figure 8 Global Increase in Labor Wages Between 2000 and 2013
Figure 9 AI in Manufacturing Market, By Offering, 2016
Figure 10 AI in Manufacturing Market, By Technology, 2016
Figure 11 AI in Manufacturing Market, By Application, 2016
Figure 12 AI in Manufacturing Market, By Industry, 2016
Figure 13 AI in Manufacturing Market, By Region, 2016
Figure 14 AI in Manufacturing Market Expected to Grow at High CAGR Between 2017 and 2023
Figure 15 Software Segment Expected to Have Largest Share of Artificial Intelligence in Manufacturing Market During Forecast Period
Figure 16 Computer Vision Technology Held Largest Share of AI in Manufacturing Market in 2016
Figure 17 Predictive Maintenance and Machinery Inspection Application Held Largest Share of AI in Manufacturing Market in 2016
Figure 18 Asia Pacific Expected to Grow at Highest CAGR in Artificial Intelligence in Manufacturing Market Between 2017 and 2023
Figure 19 AI in Manufacturing Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Value Chain Analysis of AI in Manufacturing
Figure 21 Software to Hold Largest Share of AI in Manufacturing Market By 2023
Figure 22 US to Hold the Largest Share of AI in Manufacturing Market for Hardware in North America By 2023
Figure 23 China to Hold Largest Share of AI in Manufacturing Market for Hardware in APAC By 2023
Figure 24 AI Platform Expected to Grow at the Highest CAGR in AI Manufacturing Market for Software During 2017–2023
Figure 25 China to Hold Largest Share of AI in Manufacturing for Software in APAC in 2023
Figure 26 Artificial Intelligence in the Manufacturing Market, By Technology
Figure 27 Deep Learning Expected to Be Fastest-Growing Technology in AI in Manufacturing Market Between 2017 and 2023
Figure 28 Quality Control Expected to Be Fastest-Growing Application in Artificial Intelligence in Manufacturing Market for Deep Learning Technology Between 2017 and 2023
Figure 29 Predictive Maintenance and Machinery Inspection Application is Expected to Hold Largest Share of AI in Manufacturing Market By 2023
Figure 30 North America Had Largest Share of AI in Manufacturing Market for Material Movement in 2016
Figure 31 North America Had the Largest Share for Field Services in 2016
Figure 32 Deep Learning is Expected to Experience the Fastest Growth in Quality Control During 2017-2023
Figure 33 Automobile Held Largest Share of AI in Manufacturing Market in 2016
Figure 34 North America Expected to Hold Largest Share of AI in Manufacturing for Energy and Power By 2023
Figure 35 APAC Expected to Experience Fastest Growth in AI in Manufacturing Market for Heavy Metals and Machine Manufacturing During the Forecast Period
Figure 36 Europe to Hold Largest Share of AI in Manufacturing for Food and Beverages By 2023
Figure 37 AI in Manufacturing Market Segmentation, By Region
Figure 38 North America Expected to Dominate AI in Manufacturing Market During Forecast Period
Figure 39 Snapshot: Artificial Intelligence in Manufacturing Market in North America
Figure 40 Software Segment Expected to Lead AI in Manufacturing Market Based on Offerings in US During the Forecast Period
Figure 41 Snapshot: Artificial Intelligence in Manufacturing Market in Europe
Figure 42 Germany Expected to Dominate AI in Manufacturing Market in Europe During Forecast Period
Figure 43 Software Segment to Lead AI in Manufacturing Market in UK During Forecast Period
Figure 44 Snapshot: Artificial Intelligence in Manufacturing Market in APAC
Figure 45 Hardware Segment Expected to Grow at Highest CAGR in AI in Manufacturing Market in Japan During 2017–2023
Figure 46 Hardware Segment to Grow at Highest CAGR in AI in Manufacturing Market in South America During 2017–2023
Figure 47 Siemens AG: Company Snapshot (2016)
Figure 48 Intel Corporation: Company Snapshot (2016)
Figure 49 Nvidia Corporation: Company Snapshot (2016)
Figure 50 Alphabet Inc.: Company Snapshot (2016)
Figure 51 IBM Corporation: Company Snapshot (2016)
Figure 52 Microsoft Corporation: Company Snapshot (2016)
Figure 53 General Electric Company: Company Snapshot (2016)
Figure 54 Rockwell Automation Inc.: Company Snapshot(2016)
Figure 55 Cisco Systems, Inc.: Company Snapshot (2016)
Figure 56 Mitsubishi Electric Corporation: Company Snapshot (2016)
Figure 57 Oracle Corporation: Company Snapshot (2016)
Figure 58 SAP SE: Company Snapshot (2016)

According to the forecast provided by MarketsandMarkets, the overall artificial intelligence (AI) in manufacturing market was valued at USD 272.5 Million in 2016 and is expected to reach USD 4,882.9 Million by 2023, at a CAGR of 52.42% between 2017 and 2023. The growth of this market is driven by growing usage of big data technology and industrial IoT in the manufacturing industry, extensive usage of robotics, increased in usage of computer vision technology by manufacturing companies, cross-industry partnerships, and significant increase in venture capital investments.

This report segments the AI in manufacturing market on the basis of offering, technology, application, industry, and geography. By offering, the Artificial Intelligence in manufacturing market has been divided further into hardware and software. The software segment held the largest share of the AI in manufacturing market in 2016. The growing demand for software-based AI solutions and the presence of major software companies providing AI software are expected to drive the growth of this market.

By technology, the Artificial Intelligence in manufacturing market has been segmented into deep learning, computer vision, context awareness, and natural language processing (NLP). Currently, computer vision holds the largest share among AI technologies. The demand has grown since the companies have started to structure the huge volume of manufacturing data for predictive analysis.

By application, the Artificial Intelligence in manufacturing market has been segmented into material movement, predictive maintenance and machinery inspection, production planning, field services, reclamation, and quality control. The predictive maintenance and machinery inspection held the largest share in 2016 owing to factors such as the growing machine’s data with the increasing adoption of big data technology, robotics, and computer vision technology in the manufacturing industry.

By industry, the Artificial Intelligence in manufacturing market includes semiconductor and electronics, energy and power, pharmaceuticals, automobile, heavy metals and machine manufacturing, food and beverages, and others (textiles and aerospace). Automobiles held the largest share in 2016 owing to the factors of extensive usage of industrial IoT and robots in automobile plants.

Of all the regions, North America is expected to have the largest share of the AI in manufacturing market in 2016. The US is a major contributor to the growth of the Artificial Intelligence in manufacturing market in North America. Cross-industry participation in the manufacturing domain along with significant increase in venture capital investment in North America is driving the growth of the AI in manufacturing market. Moreover, the presence of major AI providers such as NVIDIA Corporation (US), IBM Corporation (US), Intel Corporation (US), and Alphabet Inc. (US) is expected to drive the AI in manufacturing market in the region. Asia Pacific (APAC) is expected to be the fastest-growing region in the AI in manufacturing market during the forecast period. APAC, especially China, Japan, and South Korea, is considered as the largest market for industrial robots. The industrial robots generate a huge amount of data. This data is used in deep learning algorithm to train the robots further. This would act as one of the major drivers for the AI in manufacturing market in APAC.

Reluctance among the manufacturers to adopt AI-based technologies is the major factors restraining the growth of the Artificial Intelligence in manufacturing market. The major players in the AI in manufacturing market are Siemens AG (Germany), Intel Corporation (US), NVIDIA Corporation (us), Alphabet Inc. (us), IBM Corporation, Microsoft Corporation (US), General Electric Company (US), DataRPM, Sight Machine (US), General Vision, Inc. (US), AIBrain, Inc. (US), Rockwell, Automation Inc. (US), Cisco Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), Oracle Corporation (US), SAP SE (Germany), Preferred Networks, Inc. (Japan), Vicarious Inc. (US), Skymind Inc.(US), Citrine Informatics (US), CloudMinds Technologies (US),  and Ubtech Robotics Corp. (China).

To speak to our analyst for a discussion on the above findings, click Speak to Analyst