The Global Artificial Intelligence in Manufacturing Market is expected to grow from USD 5.9 billion in 2019 to USD 40.01 billion by the end of 2025, at a CAGR of 46.56%.
Automotive accounts the largest share in the industry segment with around 26.15% market share in global AI in the manufacturing market. ML segment commands largest technology adoption share of AI
- Definition / Scope
- Market Overview
- Key Metrics
- Market Risks
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
AI is a broad area of computer science that makes machines replicate human intelligence with the system broadly called Machine Learning and Deep Learning.
Other inter-related technologies include Supervised Learning, Unsupervised Learning, Natural Language Processing (NLP), Computer Vision, Speech and Robotics. Machine Learning (ML) is an application of AI that provides systems with the ability to learn and improve from experiences and training, focusing on programs that can access data and use it to learn.
Deep learning, a sub-set of ML, is a form of AI that mimics the neural networks of human body. Machine is fed with terabytes of information then it studies them, learns from them, reiterates the process, and pivots its own moves.
Supervised Learning uses labelled data to train a ML model while Unsupervised Learning is algorithm that take a set of data that contain only inputs and finds structure such as clustering. AI is first coined in 1956 by Dartmouth professor named John McCarthy.
There are many use cases of AI in solving pain points in manufacturing and can be divided into smart production, business operation and management, supply chain, and business model decision making.
Moreover, manufacturing sector is heavily undergoing transformation due to AI implementation. Within manufacturing, AI has evolved in various aspects of business and found numerous applications.
In fact, by industry, the market for AI is largest within manufacturing globally and will remain at top comparing other sectors like communication & media, retail, transportation, insurance, trade, etc.