AI In Manufacturing Predicted To Hit 40% Growth By 2025AI In Manufacturing Predicted To Hit 40% Growth By 2025
AI In Manufacturing Predicted To Hit 40% Growth By 2025
March 7, 2019
LONDON - The market in AI technologies for manufacturing is set to reach $16 billion by 2025, a new report by Global Market Insights has indicated.
In promising news for proponents of Industry 4.0 initiatives, rapid adoption of new technologies across the manufacturing space has led to a significant boost in the market growth of AI technologies.
This is primarily motivated by the need of manufacturers to reduce operational costs and drive efficiency, naturally reducing time to market.
The two largest areas of AI growth in manufacturing are computer vision and predictive maintenance.
The rising need for quality inspection and automation is leading to greater adoption of machine vision systems and IoT technologies, which are predicted to grow at a CAGR of over 45% within manufacturing.
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