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Global Artificial Intelligence (AI) Market in Manufacturing Industry 2019-2023 | Evolving Opportunities with Amazon Web Services Inc. and FANUC Corp. | Technavio

Global Artificial Intelligence (AI) Market in Manufacturing Industry 2019-2023 | Evolving Opportunities with Amazon Web Services Inc. and FANUC Corp. | Technavio

LONDON--(BUSINESS WIRE)--Oct 1, 2019--

The global artificial intelligence (AI) market size in manufacturing industry is poised to grow by USD 7.22 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 31% during the forecast period.

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Technavio has announced its latest market research report titled global artificial intelligence (AI) market for manufacturing industry 2019-2023 (Graphic: Business Wire)

Read the 160-page research report with TOC on "Artificial Intelligence (AI) Market in Manufacturing Industry Analysis Report by application (predictive maintenance and machine inspection, production planning, quality control, and others) and geography (North America, Europe, APAC, South America, and MEA) 2019 - 2023" at

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The market is driven by the evolving industrial IoT and big data integration. Also, the increasing human-robot collaboration is anticipated to further boost the growth of the artificial intelligence (AI) market in manufacturing industry.

Several manufacturing companies are moving toward Industry 4.0 standards to achieve higher operational efficiency and lower error rates. The increasing adoption of IIoT results in a high volume of data being generated that transforms the industrial data to industrial big data. This is driving the manufacturing companies to adopt AI-based solutions to extract insights from the data to manage their operations better. Thus, the integration of industrial IoT and big data will drive the growth of the market during the forecast period.

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Major Five Artificial intelligence (AI) Companies:

Amazon Web Services Inc.

Amazon Web Services Inc. has business operations under various segments, namely analytics, machine learning, Internet of Things, database, end-user computing, and others. The company’s AWS Cloud is an agile, secure, and scalable platform with a set of IIoT, data lake, analytics, and ML tools, which allow the development of smart factories and products that increase operational efficiency.

FANUC Corp.

FANUC Corp. deals with the development of machine tools such as CNC series, SERVO MOTOR, and SERVO AMPLIFIER. The company also deals with sales of ROBODRILL, ROBOSHOT, and ROBOCUT. The company offers AI Bin Picking, which is a DL-based application that identifies and picks suitable orders automatically as well as reduces robot users’ burden of a lengthy manual setup process.

General Electric Co.

General Electric Co. has business operations under various segments such as power, renewable energy, aviation, oil & gas, healthcare, transportation, lighting, and capital. The company’s offerings include Predix Platform, which is an IoT-based PaaS that helps organizations to create ML analytics which predicts critical failures, automates process, and increases efficiencies.

Google LLC

Google LLC is one of the most popular global tech companies with operations in various segments which include android, chrome, google cloud, google play, google maps, and others. The company offers the Cloud Machine Learning Engine, which offers cloud computing services that comprise ML, data analytics, and data storage capabilities.

H2O.ai Inc.

H2O.ai Inc. offers H2O Driverless AI, Enterprise Support, and Enterprise Puddle for cloud deployment. H2O Driverless AI is a next-generation industrial manufacturing solution that helps data science teams to increase ML and develop highly accurate predictive models.

Technavio has segmented the artificial intelligence (AI) market in manufacturing industry based on the end-users and region.

Artificial intelligence (AI) Application Outlook (Revenue, USD Million, 2019 - 2023)

  • Predictive maintenance
  • Machine inspection
  • Production planning
  • Quality control
  • Others

Artificial intelligence (AI) Regional Outlook (Revenue, USD Million, 2019 - 2023)

  • North America
  • Europe
  • APAC
  • South America
  • MEA

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Information Technology are:

Artificial Intelligence (AI) Market – Global Artificial Intelligence (AI) Market by end-users (retail, banking, manufacturing, healthcare, and others) and geography (Asia, Europe, North America, and ROW).

Artificial Intelligence (AI) Market in Retail Sector – Global Artificial Intelligence (AI) Market in Retail Sector by application (sales and marketing, in-store, planning, procurement, and production; and logistics management) and geography (APAC, Europe, MEA, North America, and South America).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20191001005772/en/

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KEYWORD:

INDUSTRY KEYWORD: OTHER MANUFACTURING TECHNOLOGY MANUFACTURING SOFTWARE HARDWARE ELECTRONIC DESIGN AUTOMATION DATA MANAGEMENT

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/01/2019 10:00 AM/DISC: 10/01/2019 10:01 AM

http://www.businesswire.com/news/home/20191001005772/en