New York, NY -- (SBWire) -- 01/22/2019 --Industrial artificial intelligence, or industrial AI, usually refers to the application of artificial intelligence to industry. Unlike general artificial intelligence which is a frontier research discipline to build computerized systems that perform tasks requiring human intelligence, industrial AI is more concerned with the application of such technologies to address industrial pain-points for customer value creation, productivity improvement, and insight discovery.
Artificial intelligence (AI) is just now finding its niche in manufacturing, as the technology matures and costs dropand as manufacturers discover applications for which AI algorithms can make complex decisions. And as it becomes ubiquitous, the future of artificial intelligence in manufacturing is already becoming feasible in emerging markets; showcasing better sensory capabilities; and, off the factory floor, predicting what will be needed and when.
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AI certainly is making robots morecapableand easier for humans to collaborate with. But it will have an impact in areas that have nothing to do with robotics. In the supply chain, for example, algorithms can perceive patterns of demand for products across time, geographic markets, and socioeconomic segments while accounting for macroeconomic cycles, political developments, and even weather patterns. The output can be aprojection of market demand, which in turn could drive raw material sourcing, human staffing, financing decisions, inventory, maintenance of equipment, and energy consumption.
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.
In 2018, the global Industrial Artificial Intelligence market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Industrial Artificial Intelligence status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Industrial Artificial Intelligence development in United States, Europe and China.
The key players covered in this study
Intel Corporation
Siemens AG
IBM Corporation
Alphabet Inc
Microsoft Corporation
Cisco Systems, Inc
General Electric Company
Data RPM, Sight Machine
General Vision, Inc
Rockwell, Automation Inc
Mitsubishi Electric Corporation
Oracle Corporation
SAP SE
Market segment by Type, the product can be split into
Hardware
Software
Market segment by Application, split into
Semiconductor and Electronics
Energy and Power
Pharmaceuticals
Automobile
Heavy Metals and Machine Manufacturing
Food and Beverages
Others (Textiles & Aerospace)
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
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The study objectives of this report are:
To analyze global Industrial Artificial Intelligence status, future forecast, growth opportunity, key market and key players.
To present the Industrial Artificial Intelligence development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
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In this study, the years considered to estimate the market size of Industrial Artificial Intelligence are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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Industrial Artificial Intelligence Market to Grow at High CAGR During 2019 - 2025