Tag Archives: Artificial Intelligence in Manufacturing Market Size

Artificial Intelligence in Manufacturing Market ****** Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

****** Artificial Intelligence in Manufacturing Market is estimated to value over USD 18 billion by 2026 end and register a CAGR of over 47% during the forecast period 2019 to 2026.

An increase in the venture capital investments and huge availability of big data are primary reasons for augmentation of the market. Additionally, automation and an evolving industrial IoT are bolstering the market growth further. Moreover, declining hardware costs and improving computing power will also augment the market growth.
Nevertheless, lack of awareness among SMEs and manufacturers hesitating to adopt AI-based technologies are major factors that could impede the market growth. Furthermore, in upcoming years, several human jobs are anticipated to be replaced by AI-based systems worldwide. According to a survey conducted by the Oxford Martin School, around 47% of the total employment of the U.S is at risk due to the influence of advanced AI technologies. As AI poses a great threat to humanity, it will significantly restrain the market growth.

Artificial Intelligence in Manufacturing Market to Surpass $ 272.5 Billion by 2023

The overall 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.