Artificial intelligence in Manufacturing market size is valued at USD 2.3 billion in 2022 and is anticipated to USD 16.3 billion by 2027; growing at a CAGR of 47.9% from 2022 to 2027. Factors such as increased intensifying need to handle increasingly large and complex dataset and evolving industrial IoT and automation technologies are driving the growth of the market during the forecast period.
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Intel enjoys a strong market presence and has been effectively defending the same. The company has dominated the market for microprocessors for many years. The company’s dominant market position ensures a large addressable market. Intel’s market position also provides increased scale and related benefits. The established market position provides competitive advantages and allows the company to effectively penetrate the adjacent markets. One of the competitive advantages of Intel is the combination of a network of manufacturing, assembly, and test facilities with the global architecture design teams. This network enables the company to have more direct control over the processes, quality control, product cost, production timing, performance, power consumption, and manufacturing yield.
IBM is continuously involved in the development and launch of AI systems in manufacturing. The company has 12 research laboratories and presence across 175 countries dedicated to its AI and deep learning initiatives. The company has more than 1,400 patents in the field of AI. In addition, the successful launch of “IBM Watson,” a machine learning tool, has further fortified its market position in the AI in manufacturing market. Collaborations and partnerships are expected to remain the key strategies for the company in the next few years.
NVIDIA is among the front runners in the AI in manufacturing market. This is due to its wide range of GPUs to train and run ML and AL algorithms. NVIDIA is among the global leaders in the visual computing business. It has a well-established geographic footprint and mainly deals with major worldwide OEMs and ODMs. NVIDIA has made substantial investments in its R&D division. This has resulted in its strong organic growth and robust market position in terms of hardware product development in the AI market. NVIDIA uses its existing business channels as part of its business strategy to reach customers easily. NVIDIA has more than 40 offices worldwide, generating major revenue from geographies such as Taiwan, China, the US, and Europe. NVIDIA’s worldwide presence, along with the adoption of inorganic growth strategies, has helped the company earn a high rating.
Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), Industry, Application, Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision), & Region - Global Forecast to 2027
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