Artificial Intelligence in Manufacturing Market is expected to reach $18.8 billion by 2027, at a CAGR of 41.2% during the forecast period of 2020 to 2027.
With the advent of Industry 4.0, the manufacturing industry has made significant progress with respect to the adoption of advanced technologies for manufacturing operations and processes. Manufacturing industries are implementing AI-powered intelligent solutions & services for enhancing automation and operational efficiency of organizations. Thus, there is a considerable growth in the demand for the adoption of AI in the manufacturing industry for intelligent manufacturing processes that offer decentralized decision-making, optimizes logistics & supply chains, enhances production outcomes, advances process effectiveness, and minimizes operational costs, enabling an intelligent manufacturing environment.
Asia-Pacific: The fastest-growing regional market
North America commanded the largest share of the overall artificial intelligence in manufacturing market in 2018, followed by Europe, Asia Pacific, Latin America, and Middle East and Africa. However, Asia-Pacific is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly driven by increasing investment by technology leaders in this region, increasing digitization and favorable government initiatives to promote the adoption of advanced technologies in developing countries such as India, South Korea, and China.
Here are the top 10 companies operating in Artificial Intelligence in Manufacturing Market–
Alphabet is one of the global pioneers in internet-based products and services. The company’s product portfolio ranges from search engines, cloud computing, online advertising technologies, and computer hardware & software. Alphabet also offers search engines, cloud computing, online advertising technologies, and computer hardware & software. In addition to products and services, Alphabet provides G Suite, a productivity tool that can improve management of the various processes that take place in manufacturing because of its capabilities for collaboration. The tool is also handy for automating the flow of information.
The company has its strong global network with more than 70 offices in 50 countries across MEA, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Amazon Web Services provides on-demand cloud computing platforms and APIs. AWS mainly focuses on advanced technologies, such as AI, cloud computing, consumer electronics, e-commerce, and digital streaming. AWS helps manufacturers transform their manufacturing operations with advanced technologies using cutting edge automation, machine learning, AI, and robotics. The company has its geographical presence in MEA, Europe, Asia-Pacific, and RoW.
Microsoft is one of the leading technology providers. The company mainly offers software products, such as Internet Explorer, Microsoft Windows OS, Microsoft Office Suite, and Edge Web browsers. Its leading hardware products are the Microsoft Surface lineup of touchscreen individual computers and Xbox video game consoles. In the manufacturing industry, Microsoft provides Intelligent Supply Chain Solutions, Connected Field Service Solutions, Azure IoT Connected Factory, PTC ThingWorx, and other tools and applications.
With its subsidiaries and strong distribution network, the company has its presence across Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Some of the subsidiaries of Microsoft are Fine Production, GitHub, Semantic Machines, Mojang, Skype, and LinkedIn Corporation.
Nvidia designs graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SoCs) for the mobile computing and manufacturing markets. Its primary GPU product line, labeled “GeForce,” is in direct competition with Advanced Micro Devices’ (AMD) “Radeon” products. In addition to GPU manufacturing, Nvidia provides parallel processing capabilities to researchers and scientists that allow them to efficiently run high-performance applications. Nvidia brings supercomputer performance to the edge in a small form factor system on module. This allows modern neural networks in parallel and process data from multiple high-resolution sensors, which is a requirement for full AI systems.
With its subsidiaries and strong distribution network, the company has its presence across Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The subsidiaries of the company include PGI Compilers & Tools, Icera, Uli Electronics Inc, and ModViz, Inc.
IBM functions through five key segments, namely, Cognitive Solutions, Technology Services & Cloud Platforms, Global Business Services, Systems, and Global Financing. The company manufactures and sells hardware & software and delivers numerous hosting and consulting services from mainframe processors to nanotechnology domains. The company has a diverse and vast product and service portfolio, including AI, cloud computing, and security.
IBM is the world’s enterprise AI leader and largest cybersecurity company. It provides services to all size enterprises and leaders in diverse industries, including financial services institutions, manufacturers, retailers, and more. The company helps its clients to transform their business and help them to engage with clients and employees.
A report into the projected growth of the current Artificial Intelligence in Manufacturing Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2027, it’s expected to have grown at a CAGR of 41.2%, reaching over $18.8 billion.
Intel designs, manufactures, and sells computer components and related products. The company operates through six segments, namely, Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions Group (PSG), and All other. To help enterprises improve product quality and optimize supply chains, Intel IT works closely with many teams to formulate a strategy that integrates IT solutions across all levels.
With its subsidiaries and a strong network of distribution, the company has its presence in various regions, such as MEA, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The major subsidiaries of Intel are Altera, Mobileye, Nervana Systems, Wind River, and eASIC Corporation, among others.
Siemens manufactures power and energy solutions for building &driving technology, energy, healthcare, industrial automation, mobility, financing, consumer products, and services. It also manufactures market-specific solutions for various industries like aerospace, automotive manufacturing, chemical industry, cranes, fiber industry, cement, food and beverage, marine, mining, oil and gas, and pharmaceutical industry, among others.
The company has its geographic presence in more than 200 countries, which include the U.S., Canada, Mexico, Brazil, Saudi Arabia, China, India, Malaysia, Germany, the U.K., and the Netherlands, among others.
General Electric is a globally diversified technology and financial services company. The company’s products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products. The company has diversified its business into various segments, including power, oil & gas, lighting, renewable energy, healthcare, aviation, and transportation. General Electric’s Predix Operations Performance Management manages process variability and predicts& improves product quality throughput manufacturing operations at the process level, reducing waste and cost, while increasing yield and efficiency.
With its subsidiaries and a strong network of distribution, the company has its presence in various regions such as Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Rockwell Automation manufactures industrial automation and information solutions throughout the world.The company serves food and beverage, home and personal care, life sciences, automotive and tire, oil and gas, and mining& metal industries. It operates in two segments, namely, Architecture & Software and Control Products & Solutions. The Architecture & Software segment provides control and information platforms, which include controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers.The Control Products & Solutions segment offers services in low and medium voltage electro-mechanical and electronic motor starters, motor and circuit protection devices, AC/DC variable frequency drives, push buttons, signaling devices, termination and protection devices, relays, and timers, and various packaged solutions.
The company has its geographic presence in the U.S., Canada, the Middle East, Africa, Australia, China, India, Japan, Korea, and serves in about 80 countries worldwide.
Advanced Micro Devices operates as a semiconductor company that operates in two segments-Computing and Graphics and Enterprise, Embedded, &Semi-Custom. AMD specializes in manufacturing semiconductor devices used in computer processing. The company offers microprocessors, embedded microprocessors, chipsets, graphics, and video and multimedia products. In addition, it serves original equipment and design manufacturers, datacenters, original design manufacturers, system integrators, distributors, and add-in-board manufacturers.
With its subsidiaries and strong distribution network, the company has its presence across Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Popular Mentions: Oracle Corporation, SAP SE, Robert Bosch GmbH, Cisco Systems, Inc., and Sight Machine Inc.
Authoritative Research on the Artificial Intelligence in Manufacturing Market- Global Opportunity Analysis and Industry Forecast (2020-2027)
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