Pune, India -- (SBWIRE) -- 08/26/2020 -- Global Artificial Intelligence in Manufacturing Market was valued at USD 966.67 million in 2019 which is expected to reach USD 22880.45 million by 2027 at CAGR 50.32%.

Latest published report on the Artificial Intelligence in Manufacturing market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027. The report is based on an extensive study supervised by adept analysts. Their sound knowledge and expertise in the field help in unearthing of factors and figures.

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Artificial intelligence technology is the trending technology in manufacturing sector. By incorporating AI with machine learning, pattern recognition software, factories could be transformed in upcoming years. This technology helps in automating the manufacturing industry and results in reaching high level of productivity and accuracy that is even beyond human ability.

Market Drivers
Increase in demand for machine learning technology and computer vision for machinery inspection is the key driving factor which is expected to boost the global artificial intelligence in manufacturing market growth. Furthermore, rise in adoption of artificial intelligence by factories to reduce machine downtime will have the positive impact on market growth. Furthermore, increase in demand from factories to improve productivity and reduce operational cost are projected to drive the market growth during this forecast period. Moreover, integration of artificial intelligence in machinery inspection and predictive maintenance encompasses testing, lubrication, regular examination, and adjustments of equipments. Such benefits are expected to fuel the market growth.

Market Restraints
However, reluctance among manufacturers to adopt AI-based technologies is the major challenging factor which is expected to hinder the global artificial intelligence in manufacturing market growth.

Market Key Players
Various key Players are discussed in this report such as Bosch, General Electric Company, Cisco Systems, Inc., Intel Corporation, IBM Corporation, Microsoft Corporation, NVIDIA Corporation, Mitsubishi Electric Corporation, and Siemens AG

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Market Taxonomy
By Offering
- Hardware
- Software
- Services
By Technology
- Machine Learning
- Computer Vision
- Context Awareness
- Natural Language Processing
By Application
- Material Movement
- Predictive Maintenance & Machinery Inspection
- Production Planning
- Field Services
- Quality Control & Reclamation
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa

Major Points Covered in Table of Content
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Artificial Intelligence in Manufacturing Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Artificial Intelligence in Manufacturing Market, By Offering
5.1 Y-o-Y Growth Comparison, By Offering
5.2 Global Artificial Intelligence in Manufacturing Market Share Analysis, By Offering
5.3 Global Artificial Intelligence in Manufacturing Market Size and Forecast, By Offering
5.3.1 Hardware
5.3.2Software
5.3.3 Services
6 Global Artificial Intelligence in Manufacturing Market, By Technology
6.1 Y-o-Y Growth Comparison, By Technology
6.2 Global Artificial Intelligence in Manufacturing Market Share Analysis, By Technology
6.3 Global Artificial Intelligence in Manufacturing Market Size and Forecast, By Technology
6.3.1 Machine Learning
6.3.2 Computer Vision
6.3.3 Context Awareness
6.3.4 Natural Language Processing
7 Global Artificial Intelligence in Manufacturing Market, Application
7.1 Y-o-Y Growth Comparison, Application
7.2 Global Artificial Intelligence in Manufacturing Market Share Analysis, Application
7.3 Global Artificial Intelligence in Manufacturing Market Size and Forecast, Application
7.3. 1 Material Movement
7.3.2 Predictive Maintenance & Machinery Inspection
7.3.3 Production Planning
7.3.4 Field Services
7.3.5 Quality Control & Reclamation
8 Global Artificial Intelligence in Manufacturing Market, By Region
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