Rise in demand for artificial intelligence in manufacturing due to increasing adoption of Internet of Things and rise in awareness about customer satisfaction augment the growth of the global artificial intelligence in manufacturing market. However, high cost of implementing this technology and high threat to human dignity restrain the market growth. Moreover, expansion of smarter and efficient robots is anticipated to offer lucrative opportunities to the market, in the near future.

Global Artificial intelligence in Manufacturing Market size was $513.6 million in 2017, and is anticipated to reach $15.27 billion by 2025, growing at a CAGR of 55.2% during the forecast period.

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Covid-19 Scenario:

• The global pandemic has affected a major part of the manufacturing industry which, in turn, impedes the adoption of artificial intelligence by companies.

• However, certain manufacturing companies including food & beverages and pharmaceuticals are permitted to continue production amid COVID-19.

• Moreover, the global lockdown has urged other manufacturing companies to halt the production.

In terms of deployment, the on-premise segment is projected to contribute to the highest share in the global artificial intelligence in manufacturing market during the forecast period. On the other hand, on the basis of industry segment, the automobile segment is expected to dominate the market in terms of revenue in 2017. This is owing to the capability of artificial intelligence to execute manufacturing processes with less errors along with expanding the production.

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Leading Market Players

• General Electric Company

• IBM Corporation

• Intel Corporation

• Microsoft Corporation

• Mitsubishi Electric Corporation

• Cisco Systems, Inc.

• NVIDIA Corporation

• Siemens AG

• Oracle Corporation

• Bosch.

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