Dublin, June 4, 2024 (GLOBE NEWSWIRE) — The “Global AI in Manufacturing Market: Focus on End-Use Industry, Applications, Technology, Components and Region – Analysis and Forecast, 2024-2034” the report has been added to ResearchAndMarkets.com offer.
The market is valued at $5.12 billion in 2024 and is expected to grow at a CAGR of 38.46% to reach $132.54 billion by 2034. The growth trend is primarily driven by the need to manage increasingly complex datasets and advances in machine learning algorithms and data. analytics in the manufacturing sector.
AI is reshaping the manufacturing landscape by improving productivity, efficiency and data-driven decision-making. Automating tasks through AI-based robots not only streamlines operations but also improves workplace safety. By allowing human workers to focus on more complex activities, AI allows manufacturers to remain competitive in a rapidly changing global marketplace, paving the way for a more agile and responsive industry.
Despite these positive factors, the market faces obstacles such as availability of skilled labor, especially in developing countries. However, leveraging AI, machine learning, and natural language processing (NLP) for intelligent business processes presents lucrative opportunities for the expansion of AI in manufacturing. With AI and big data analytics, businesses can quickly analyze a lot of structured and unstructured data from various sources. This allows them to identify anomalies, reduce maintenance expenses, improve customer service, implement predictive and preventative maintenance measures, and leverage raw data for informed decision-making.
The AI market in manufacturing in North America is experiencing significant growth. Many countries in North America, including the United States, Canada, and Mexico, have implemented policies and incentives to promote AI adoption. These policies typically include subsidies, tax incentives and regulatory measures aimed at reducing emissions and promoting sustainable transport solutions.
The region’s AI manufacturing landscape is dynamic, with a mix of startups, research initiatives and strategic collaborations among industry leaders. Currently, North America dominates the market. However, during the forecast period, the Asia Pacific region is poised to witness substantial growth in the AI in manufacturing market. This growth is fueled by the rapid acceptance and integration of AI technologies across various manufacturing industries, leading to improved operational efficiencies and innovative advancements.
Leading companies such as NVIDIA Corporation, IBM, and Intel Corporation are pioneering a full range of AI products spanning software, hardware, machine learning, computer vision, and natural language processing. Companies are using AI to revolutionize manufacturing with solutions like NVIDIA Metropolis, Isaac Sim, IBM’s Generative AI, and Intel’s Semiconductor Optimization, improving efficiency and enabling data-driven decision making. They also invest heavily in research and development to innovate new products.
Key questions answered in this report:
- What are the key factors driving the demand for AI in manufacturing markets?
- What are the main patents filed by companies active in AI in manufacturing markets?
- Who are the main players in the AI market in the manufacturing market and what are their respective market shares?
- What partnerships or collaborations are important among AI stakeholders in manufacturing markets?
- What strategies are key companies adopting to gain competitive advantage in AI in manufacturing markets?
- What are the futuristic prospects of AI in manufacturing markets in terms of growth potential?
- What is the current estimate of AI in manufacturing markets and what growth trajectory is projected from 2024 to 2034?
- Which application and product segment is expected to dominate the market during the forecast period (2024-2034)?
- How could the growth of AI end-use industries impact manufacturing markets?
- Which regions have the highest AI adoption rates in manufacturing markets, and what factors contribute to their leadership?
Key Attributes:
| Report attribute | Details |
| Number of pages | 100 |
| Forecast period | 2024 – 2034 |
| Estimated market value (USD) in 2024 | $5.12 billion |
| Projected market value (USD) by 2034 | $132.54 billion |
| Compound annual growth rate | 38.4% |
| Regions covered | Global |
Industry dynamics
Trends: assessment of current and future impacts
- Supply Chain Overview
- Value chain analysis
- Price forecast
Regulatory landscape
Stakeholder analysis
Use case
End user and purchasing criteria
Impact analysis of key global events
Overview of Market Dynamics
- Market factors
- Market restrictions
- Market Opportunities
Company Profiles
- NVIDIA Company
- IBM
- Intel Company
- Siemens
- GENERAL ELECTRIC
- Google SARL
- Microsoft
- Micron Technology, Inc.
- Sight machine
- Oracle
- Cisco Systems, Inc.
- SAP
- Light Machines, Inc.
- Mitsubishi Electric Company
- General Vision Inc.
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- Preview
- Main products/product portfolio
- Top Competitors
- Target customers
- Key personnel
- Analyst View
- Market share
For more information on this report, visit https://www.researchandmarkets.com/r/8n5fue
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