Artificial Intelligence is witnessing a significant growth in the manufacturing industry, since, it is helping in reducing operating cost, and in decreasing the turnaround time. For instance, e-commerce players are investing in drones and robots for optimizing their supply chain. For example, in August 2017, e-commerce giant Alibaba deployed 60 robots in its smart factory in China. These robots are responsible for assisting humans in the floor operations such as moving goods from one place to other. Thus, improving the overall efficiency of the factory and reducing the turnaround time.
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Industry 4.0 revolution and the growing penetration of the IoT, automation and big data-based solutions in the manufacturing industry are some of the key factors that are driving the AI in manufacturing. In addition, growing adoption of industrial and collaborative robots and the need for the smart factories are bolstering the growth of the AI in the manufacturing industry. For instance, in October 2018, Osram partnered with Deutsche Telekom for developing and testing AI enabled smart automated guided vehicles (mobile robotics) for the smart factories. However, lack of industry standards, the reluctance of the manufacturers to adopt AI solutions and underdeveloped ICT infrastructure in most of the developing and underdeveloped regions are restraining the market growth.
Various notable players operating in the market, include Siemens AG, Intel Corporation, Bosch, General Electric (GE) Company, Cisco Systems, Inc., Oracle Corporation, Rockwell Automation Inc., IBM Corporation, Alphabet Inc., and Datarpm. Most of the players in the market are focusing on a product launch, partnerships and on research and development of technologically advanced AI solutions for the manufacturing industry.
The research report “Global Artificial Intelligence in Manufacturing Market” provides in-depth analysis of technology, application, industry vertical and key geographies for the forecast period from 2018 to 2025. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the Global Artificial Intelligence in Manufacturing Market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
Key questions answered in this research report:
- At what pace is artificial intelligence in manufacturing market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the artificial intelligence in manufacturing market?
- What are the various application areas and how they are poised to grow?
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