The US AI in manufacturing market is estimated to generate $550 million in 2018. The market in the US is estimated to grow at a significant CAGR of more than 30% during the forecast period. The market growth is attributed to the factors such as investments in R&D, high expenditure on IT and ICT industry, and the presence of key players. The favorable government initiatives in product development and innovation along with the collaboration between the private and government sector to develop AI technology in the country further spurs the growth of the market.
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The manufacturing industry has been consistently contributing to the total US GDP, and National Association of Manufacturers calculates that every dollar in output from manufacturing generates an additional $1.89 of value and every direct job creates 2.5 additional jobs. As per the National Association of Manufacturers, manufacturers contributed $2.38 trillion to the US economy in the fourth quarter of 2018. This number has risen since the second quarter of 2009, when manufacturers contributed $1.67 trillion.
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US AI in Manufacturing Market Segmentation
By Application
• Quality Control & Reclamation
• Predictive Maintenance
• Supply Network Optimization
• Others (Production Planning)
By End-User
• Automobile
• Pharmaceutical
• Heavy Metal & Machine Manufacturing
• Others (Semiconductor and Electronics)
Company Profiles
• Automation Anywhere, Inc.
• C3 IoT, Inc.
• Google LLC
• IBM Corp
• Intel Corp.
• Microsoft Corp.
• NVIDIA Corp.
• Oqton, Inc.
• Oracle Corp.
• Rockwell Automation, Inc.
• SAS Institute Inc.
• Sight Machine, Inc.
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