The manufacturing industry exhibits some contradictions when it comes to automation and technology. On the one hand, manufacturing was among the first industries to integrate any type of technology more than a century ago, as the production of goods incorporated tools to aid in the production process. On the other hand, manufacturing companies are risk-averse when it comes to implementing new technology quickly, mainly due to the large amount of capital and time at stake. However, manufacturing companies are incorporating artificial intelligence (AI) technology to their environments at a modest, yet steady, pace. AI includes the use of machine learning (ML) and deep learning (DL) – often with other enabling technologies. As manufacturing becomes more cost-sensitive and customers demand quality, manufacturers are using AI to enhance the performance of equipment, reduce downtime, and improve the quantity and quality of products. The overarching driver of AI technology is the ability to find insights in large data sources that would be too unwieldy for humans to analyze quickly. According to Tractica, global revenue for AI software, services, and hardware for smart manufacturing applications is expected to reach more than $13 billion by 2025. This Tractica report assesses the global market for AI technologies used in smart manufacturing applications. The technologies include ML, DL, natural language processing (NLP), computer vision, machine reasoning, and strong AI. Global market forecasts, segmented by region, product and service category, use case, and segment, extend through 2025. Tractica also addresses the market trends, drivers, and barriers to adoption related to manufacturing AI technologies and provides profiles for key market participants.
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