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Artificial Intelligence in Manufacturing Market to Reach $4.8 Billion by 2023: Driven by Growing Usage of Computer Vision Technology by Manufacturing CompaniesDUBLIN, August 9, 2017 /PRNewswire/ -- The "Artificial Intelligence in Manufacturing Market by Offering, Technology, Application, Industry, and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering. The artificial intelligence (AI) in manufacturing market was valued at USD 272.5 million in 2016 and is expected to reach USD 4,882.9 million by 2023, at a CAGR of 52.42% between 2017 and 2023. The growth of this market is driven by growing usage of big data technology and industrial IoT in the manufacturing industry, extensive usage of robotics, increased in usage of computer vision technology by manufacturing companies, cross-industry partnerships, and significant increase in venture capital investments. By application, the AI in manufacturing market has been segmented into material movement, predictive maintenance and machinery inspection, production planning, field services, reclamation, and quality control. The predictive maintenance and machinery inspection held the largest share in 2016 owing to factors such as the growing machine's data with the increasing adoption of big data technology, robotics, and computer vision technology in the manufacturing industry. By industry, the AI in manufacturing market includes semiconductor and electronics, energy and power, pharmaceuticals, automobile, heavy metals and machine manufacturing, food and beverages, and others (textiles and aerospace). Automobiles held the largest share in 2016 owing to the factors of extensive usage of industrial IoT and robots in automobile plants. Companies Mentioned
Key Topics Covered: 1 Introduction 2 Research Methodology For more information about this report visit https://www.researchandmarkets.com/research/plrhc5/artificial Media Contact: Research and Markets |