The artificial intelligence in 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 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 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.
The global race toward smart manufacturing is driving the use of advanced automation technologies such as machine vision (MV). MV has become a key technology in both manufacturing and quality control; however, MV is rapidly becoming a crucial building block for Industrie 4.0-enabled smart factory infrastructure. MV is an essential element for smart factory infrastructure, due to its characteristics such as efficient communicating network and the intelligent exchange of information among sensors, devices, and machines. MV systems have demonstrated their cost effectiveness in inspection, measurement, scanning, and object detection in manufacturing to improve consistency, productivity, and overall quality. MV systems provide object recognition capabilities with varying degrees of accuracy and robustness.
Artificial intelligence is among the most fascinating ideas of our time. It has captured the imagination of visionaries, science fiction writers, engineers and wall street analysts alike. In fact, artificial intelligence is in many ways a catalyst for the data revolution – something that has disrupted every aspect of modern life. As with all new technologies, some are faster to embrace them, and others are much slower. Is automotive manufacturing one of the faster ones or would it be among the last?
The market for cobots is emerging as a fast-growing segment of the rapidly growing industrial robotics market. Demand for cobots is expected to rise at a CAGR of more than 50 percent over the next decade. Although there are some reasons to assume that the acceptance and implementation of cobots will slow growth somewhat, it is clear that the cobot market is rapidly expanding and the number of use cases will continue to rise. The steadily falling prices of components such as sensors make cobots accessible for SMEs. All markets are expected to see growth rates above 50 percent CAGR, but in a regional sense, expectations are especially high for China, because it still lags in the use of robots, when compared to countries like South Korea, Japan, the US, and Germany.