Home News Artificial Intelligence in manufacturing industry to reach $16bn by 2025: Report

Artificial Intelligence in manufacturing industry to reach $16bn by 2025: Report

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Artificial Intelligence in manufacturing industry to reach $16bn by 2025
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PRNewswire: The artificial intelligence (AI) in the manufacturing market is poised to hike from USD 1 billion in 2018 to over USD 16 billion by 2025, according to a 2019 Global Market Insights, Inc. report. The AI in the manufacturing market is driven by the rapid adoption of industry 4.0 technologies. The growing need among the manufacturers to reduce the cost of operation and enhance operational efficiency is the primary factor driving the adoption of Industry 4.0

The report stated that AI platforms market will grow significantly over the forecast timespan. The increasing need for customized AI solutions in the manufacturing industry is promoting the use of AI platforms in the manufacturing industry. The AI platforms provide pre-built algorithms with simplistic workflows along with features, such as drag & drop modeling and visual interfaces, that easily connect necessary data to the end solution.

The changing customer behavior & demand is fostering the growth of AI in the manufacturing market. Globally, customers have access to over one billion products offered by a wide variety of dynamic new entrants and traditional competitors experimenting with new business models & methods of customer engagement.

The new technology solutions are enhancing operational efficiency and reducing the time to market the products. It allows enterprises to analyze the customer demand, align their operations to meet the customer’s requirement, and analyze the process in real-time. These solutions are more reliable, cost-effective, and provides organizations with an opportunity to scale their operations without incurring an intensive capital cost.

The complete report is available here: https://bit.ly/2tF7QVf

 

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