Artificial Intelligence in Manufacturing Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Artificial Intelligence in Manufacturing Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Trends, opportunity and forecast in the global artificial intelligence in manufacturing market to 2028 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

Artificial Intelligence in Manufacturing Market Trends and Forecast

The future of the artificial intelligence in manufacturing market looks promising with opportunities in the semiconductor & electronic, energy & power, pharmaceutical, medical device, automotive, heavy metal & machine manufacturing, fast-moving consumer good, and aerospace & defense end user industries. The global artificial intelligence in manufacturing market is expected to reach an estimated $2.2 billion by 2028 with a CAGR of 26.3% from 2023 to 2028. The major drivers for this market are emergence of industry 4.0 and the growing demand for automated and IoT based technologies among manufacturing sectors..

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Artificial Intelligence in Manufacturing Market by Segment

The study includes a forecast for the global artificial intelligence in manufacturing market by component, technology, application, end use industry, and region, as follows:

Artificial Intelligence in Manufacturing Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

• Hardware

o Processors

o Networking

o Memory

• Software

o AI Platforms

o AI Solutions

• Services

o Deployment & Integration

o Support & Maintenance

Artificial Intelligence in Manufacturing Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

• Machine Learning (ML)
• Natural Language Processing (NLP)
• Context-Aware Computing
• Computer Vision
• Speech and Voice Recognition

Artificial Intelligence in Manufacturing Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Field Services
• Quality Management
• Cybersecurity
• Robotics & Factory Automation
• Predictive Maintenance & Machinery Inspection
• Material Handling
• Production Planning
• Safety Planning
• Energy management
• Supply Chain Optimization

Artificial Intelligence in Manufacturing Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Semiconductor & Electronics
• Energy & Power
• Pharmaceuticals
• Medical Devices
• Automotive
• Heavy Metals & Machine Manufacturing
• Fast-Moving Consumer Goods
• Aerospace and Defense
• Others

Artificial Intelligence in Manufacturing Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Artificial Intelligence in Manufacturing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies artificial intelligence in manufacturing companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the artificial intelligence in manufacturing companies profiled in this report include.

• Alphabet
• IBM
• Intel
• Microsoft
• Nvidia

Artificial Intelligence in Manufacturing Market Insights

• Lucintel forecasts that software is expected to witness highest growth over the forecast period due to the growing acceptance of assistants powered by machine learning, cloud based technologies, and learning analytics among different industrial units.
• Medical devices is expected to witness the highest growth over forecast period due to extensive integration of AI in medical gadgets and increasing usage of computation and machine learning technologies for accuracy and avoidance of any failure.
• 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.

Features of the Artificial Intelligence in Manufacturing Market

• Market Size Estimates: Artificial intelligence in manufacturing market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Artificial intelligence in manufacturing market size by various segments, such as by component, technology, application, end use industry, and region
• Regional Analysis: Artificial intelligence in manufacturing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by component, technology, application, end use industry, and regions for the artificial intelligence in manufacturing market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the artificial intelligence in manufacturing market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the artificial intelligence in manufacturing market size?

Answer: The global artificial intelligence in manufacturing market is expected to reach an estimated $2.2 billion by 2028.

Q2. What is the growth forecast for artificial intelligence in manufacturing market?

Answer: The global artificial intelligence in manufacturing market is expected to grow with a CAGR of 26.3% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the artificial intelligence in manufacturing market?

Answer: The major drivers for this market are emergence of industry 4.0 and growing demand for automated and IoT based technologies among manufacturing sector.

Q4. What are the major segments for artificial intelligence in manufacturing market?

Answer: The future of the artificial intelligence in manufacturing market looks promising with opportunities in the semiconductor & electronic, energy & power, pharmaceutical, medical device, automotive, heavy metal & machine manufacturing, fast-moving consumer good, and aerospace & defense end user industries.

Q5. Who are the key artificial intelligence in manufacturing companies?

Answer: Some of the key artificial intelligence in manufacturing companies are as follows:

• Alphabet
• IBM
• Intel
• Microsoft
• Nvidia

Q6. Which artificial intelligence in manufacturing segment will be the largest in future?

Answer: Lucintel forecasts that software is expected to witness highest growth over the forecast period due to the growing acceptance of assistants powered by machine learning, cloud based technologies, and learning analytics among different industrial units.

Q7. In artificial intelligence in manufacturing market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

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, computer vision, and speech & voice recognition), application (field services, quality management, cybersecurity, robotics & factory automation, predictive maintenance & machinery inspection, material handling, production planning, safety planning, energy management, and supply chain optimization), end use industry (semiconductor & electronics, energy & power, pharmaceuticals, medical devices, automotive, heavy metals & machine manufacturing, fast-moving consumer goods, aerospace & defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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