The growing usage big data technology, Industrial IoT in manufacturing,
extensive usage of robotics in manufacturing, computer vision technology in
manufacturing, cross-industry partnerships and collaborations, and significant
increase in venture capital investments would propel the growth of the AI in
manufacturing market.
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In recent years, major software vendors such as IBM Corporation (US), Microsoft Corporation (US), and Alphabet Inc. (US) have started offering cognitive applications and cognitive software platforms. Moreover, many start-ups such as DataRPM (US), Clearpath Robotics Inc. (Canada), Sight Machine (US), Preferred Networks Inc. (Japan), SkyMind Inc. (US), Kespry Inc. (US), and AIBrain, Inc. (US) are bringing intelligent software solutions in manufacturing. The booming venture capital market for AI software-based start-ups and usage of big data technology are driving the growth of the AI in manufacturing market for the software segment.
Software to hold the
largest share of the AI in manufacturing market during 2017-2023
The AI software is used to assist the manufacturing
plant operator in finding the relevant insights, material movement, predictive
maintenance and machinery inspection, production planning, field services,
reclamation, and quality control. In recent years, major software vendors such
as IBM Corporation (US), Microsoft Corporation (US), and Alphabet Inc. (US)
have started offering cognitive applications and cognitive software platforms.
Deep learning technology
expected to grow at the highest rate between 2017 and 2023
The deep learning technology, which includes image
recognition, signal recognition, and data mining, is expected to witness the
highest CAGR during the forecast period. The rapid adoption of robotics in the
manufacturing industry, huge volume of data that is generated from the computer
vision technology, and big data technology are driving the growth of the AI in
manufacturing market for the deep learning technology.
The major players in the AI in manufacturing
market are Siemens AG (Germany), Intel Corporation (US), NVIDIA
Corporation (us), Alphabet Inc. (us), IBM Corporation, Microsoft Corporation
(US), General Electric Company (US), DataRPM, Sight Machine (US), General
Vision, Inc. (US), AIBrain, Inc. (US), Rockwell, Automation Inc. (US), Cisco
Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), Oracle Corporation
(US), SAP SE (Germany), Preferred Networks, Inc. (Japan), Vicarious Inc. (US),
Skymind Inc.(US), Citrine Informatics (US), CloudMinds Technologies (US),
and Ubtech Robotics Corp. (China).
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North America to hold a
major share of the AI in manufacturing market during the forecast period
North America, which comprises the US, Mexico, and
Canada, dominates the overall AI in manufacturing market. The US is a major
contributor to the growth of the AI in manufacturing market in North America.
Cross-industry participation in the manufacturing domain along with significant
increase in venture capital investment in North America is driving the growth
of the AI in manufacturing market. Moreover, the presence of major AI providers
such as NVIDIA Corporation (US), IBM Corporation (US), Intel Corporation (US),
and Alphabet Inc. (US) is expected to drive the growth of the AI in
manufacturing market in this region.
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