The global artificial intelligence in manufacturing market is projected to reach $2.2 billion by 2028, at a CAGR of 26.3% during 2023-2028. The growth of artificial intelligence in manufacturing market is driven by emergence of industry 4.0 and the growing demand for automated and IoT based technologies among manufacturing sectors.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the artificial intelligence in manufacturing market by component (hardware, software, and services), technology (machine learning, natural language processing, context-aware computing, and others), application (field services, quality management, cybersecurity, robotics & factory automation, and others), end use industry (semiconductor & electronics, energy & power, medical devices, automotive, and others), and region?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the artificial intelligence in manufacturing market?
Q.4 What are some changing demands of customers in the artificial intelligence in manufacturing market?
Q.5 What are the new developments in the artificial intelligence in manufacturing market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this artificial intelligence in manufacturing area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this artificial intelligence in manufacturing market?
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Based on component, the artificial intelligence in manufacturing market is segmented into hardware, software, and services. The software segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing acceptance of assistants powered by machine learning, cloud based technologies, and learning analytics among different industrial units.
APAC is expected to witness highest growth due to the existence of key manufacturing units, encouraging initiatives by government to adopt modern technologies, and growing trend of digitalization in the region.
Key Players in the artificial intelligence in manufacturing market are Alphabet, IBM, Intel, Microsoft, and Nvidia.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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