Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Artificial intelligence is an ability of computer to perform task like humans and mimic their actions. It helps in understanding language, pictures also it can help in detecting patterns. It is most commonly applied in manufacturing industry to improve overall equipment efficiency (OEE). Artificial intelligence helps in automating the manufacturing industry which help to achieve high level of accuracy and productivity level that is beyond human ability. AI will help in maintain quality, shortening design time, and reducing materials waste, improving production reuse, performing predictive maintenance and many more. The objective of AI is to enable computers to perform intellectual task as decision making, problem solving, perception, understanding human communication.
Internet of Things (IoT) plays a vital role in the adoption of AI-based technology in the manufacturing sector. Manufacturer are witnessing the need for production optimization in industries such as chemical, automotive, semiconductor and electronics among others on a large scale. Artificial intelligence and machine learning are powerful tools to minimize the consumption of resources and energy in every industrial process. Industrial IoT makes industrial processes efficient, productive and innovative by enabling an architecture that provide real time information about operational and business systems. The artificial intelligence and machine learning have opened new horizons for production optimization. AI and ML support to build a statistical model using the available data from many sources such as a reading of many sensors, initial material used for manufacturing and more. As a result, manufacturing efficiency improves, which further helps in business growth.
The pandemic created a huge impact not only our lives but our businesses also. Many manufacturing companies are temporarily closed. Some are facing demand and supply shortage, whereas some companies have huge demand but are not able to work with full potential. Considering the situation companies are shifting their focus on artificial intelligence to overcome from COVID -19 impact on their businesses. The growth in the adoption of AI solutions is completely dependent on the growth of manufacturing units. In the current situation, manufacturing ecosystems have been disrupted and thus the growth of AI solution also get affected negatively. Therefore, on a short-term basis the demand for AI in the manufacturing industry is steady, but as the pandemic condition is under control to some extent the demand for AI is likely to grow significantly.
The report analyses the behavioral biometric market services based on, offering, technology, industry, and geography.
Artificial intelligence in manufacturing by offering is segmented into hardware, software and services. Hardware segment is the fastest growing segment in artificial intelligence in manufacturing as there is an increased demand of hardware to run various AI software, AI algorithms which are driving the growth of the segment. Various types of hardware are used such as, central processing units, graphics processing units, field programmable gate arrays, application specific integrated circuits etc. Modern machines combine powerful multicore CPUs to solve parallel processing with dedicated hardware.
Machine learning, computer vision, context- aware computing, natural language processing are some of the technologies covered in the study. Due to adoption of machine learning by various industries to improve productivity, machine learning and natural language processing are in demand. Machine learning includes reducing common, painful process driven losses e.g. yield, waste, quality and throughput. Increased capacity by optimizing the production process, improved quality control with actionable insights to constantly raise product quality. Natural language processing is a subfield of computer science and artificial intelligence concerned with the interaction between computer and human language, in particular how to program computer to process and analyze large amounts of natural language data. With the help of NLP, the manufacturing factory is self- aware about details such as the amount of energy used, employees daily work hours, number of implemented tools in the factory.
The market finds application into energy & power, automotive, medical devices, semiconductor & electronics. Medical devices and semiconductor & electronic industry are fastest growing industry in artificial intelligence owing to increased demand for high quality products. Medical device manufacturers are using these technologies to innovate their products to better assist health care providers and improve patient care. One of the greatest benefits of artificial intelligence in software resides in its ability to learn from real-world use and experience, and its capability to improve its performance. Similarly, the semiconductor and electronics industries are highly adopting AI in their manufacturing industries. With AI technology, the manufacturers will able to improve operation by optimizing the production process. Also, it helps to reduce cost associated with the production and increase the production process.
Geographically, the market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the Rest of the world regions which includes Latin America and Middle East & Africa. Asia Pacific is fastest growing region due to presence of maximum number of manufacturing plant along with the presence of automobile and electronics and semiconductor companies. The integration of AI technologies into the equipment provides companies with features such as advanced analytics, tracking and process automation. Manufacturers in this region are involved in the development of AI-based sorting technologies to provide reliable and intelligent solutions for manufacturing operations and processes.
Some of the major player operating in the market such as, NVIDIA Corporation, IBM Corporation, Alphabet Inc. (Google), Microsoft Corporation, Intel Corporation, Siemens AG, General Electric Company, General Vision Inc., Progress Software Corporation, Micron Technology Inc., Mitsubishi Electric Corporation, Sight Machine, Cisco Systems Inc., SAP SE, Rockwell Automation Inc., AIBrain Inc., Vicarious Inc., Oracle Corporation, Amazon Web Services, SparkCognition Inc., Rethink Robotics, UBTECH Robotics Corp., Aquant Inc., Bright Machines, and Flutura Decision Sciences & Analytics.
The report analyses the behavioral biometric market services based on, offering, technology, industry, and geography. Artificial intelligence in manufacturing by offering is segmented into hardware, software and services. Hardware segment is the fastest growing segment in artificial intelligence in manufacturing as there is an increased demand of hardware to run various AI software, AI algorithms which are driving the growth of the segment. Machine learning, computer vision, context- aware computing, natural language processing are some of the technologies covered in the study. The market finds application into energy & power, automotive, medical devices, semiconductor & electronics. Geographically, the market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the Rest of the world regions which includes Latin America and Middle East & Africa. Asia Pacific is likely to be fastest growing region during the forecast period.
Some of the major player operating in the market such as, NVIDIA Corporation, IBM Corporation, Alphabet Inc. (Google), Microsoft Corporation, Intel Corporation, Siemens AG, General Electric Company, General Vision Inc., Progress Software Corporation, Micron Technology Inc., Mitsubishi Electric Corporation, Sight Machine, Cisco Systems Inc., SAP SE, Rockwell Automation Inc., AIBrain Inc., Vicarious Inc., Oracle Corporation, Amazon Web Services, SparkCognition Inc., Rethink Robotics, UBTECH Robotics Corp., Aquant Inc., Bright Machines, and Flutura Decision Sciences & Analytics.
Why to Buy This Report
