Artificial Intelligence in Manufacturing Market Surges to USD 16.3 Billion by 2027, Driven by a Remarkable CAGR of 47.9%

"Artificial Intelligence in Manufacturing Market"

The Artificial Intelligence in Manufacturing Market Size is valued at USD 2.3 billion in 2022 and is anticipated to USD 16.3 billion by 2027; growing at a CAGR of 47.9% from 2022 to 2027. Improving computing power of AI chipsets and intensifying need to handle increasingly large and complex datasetacross the globe is expected to boost the market during the forecast period.

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Artificial Intelligence in Manufacturing Market based on offering has been segmented into hardware, software and services. The hardware segment has been classified into processor, memory and network; software segment into AI platform and AI solution and services into deployment & integration and support & maintenance. The software segment is estimated to account for the largest share of the artificial intelligence in manufacturing market during the forecast period. The growing adoption of AI solutions and platforms in various industries and the widening application scope of AI in the manufacturing sector are the prime factors driving the growth of the AI in Manufacturing Market for the software segment.

Browse 195 market data Tables and 58 Figures spread through 270 Pages and in-depth TOC on "Artificial Intelligence in Manufacturing Market by Offering, Industry, Application, Technology & Region - Global Forecast to 2027"

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The Artificial Intelligence in Manufacturing Market has been segmented on the basis of application. Based on application, the artificial intelligence in manufacturing market has been segmented into inventory optimization, predictive maintenance and machinery inspection, production planning, field services, reclamation, quality control, cybersecurity and industrial robots. The predictive maintenance and machinery inspection segment is estimated to account for a largest share of the artificial intelligence in manufacturing market during the forecast period. The extensive use of computer vision and machine learning technologies in machinery inspection application is the prime factors driving the growth of the AI in manufacturing market for predictive maintenance and machinery inspection application.

The Artificial Intelligence in Manufacturing Market based on technology is classified into machine learning, natural language processing, context-aware computing and computer vision. In this segment the machine learning account for the highest market share in the forecast period. Machine learning has been further segmented into deep learning, supervised learning, unsupervised learning, reinforcement learning and others (semi supervised, federated and other machine learning). The growing use of machine learning technology in various applications and the rapid adoption of robotics in the manufacturing industry are driving the growth of the AI in Manufacturing Market for machine learning technology.

The Artificial Intelligence in Manufacturing Market based on industry has been segmented into semiconductor & electronics, energy & power, pharmaceuticals, automotive, heavy metas & machine manufacturing, food & beverage and others (mining, aerospace and textile). The automotive segment is estimated to account for a largest share of the artificial intelligence in manufacturing market during the forecast period. Increased deployment of machine learning and computer vision in automotive industry is driving the market growth.

Asia Pacific is projected to account for the largest size of the Artificial Intelligence in Manufacturing Market from 2022 to 2027. The growth of the market in this region can be attributed to regional markets such as focus on quality manufacturing and rapid expansion of the semiconductor & electronics manufacturing industries in South Korea and introduction of robotics and big data in manufacturing sector of China.

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