Performance of the application segmentation in the global artificial intelligence in manufacturing market.

The global artificial intelligence in manufacturing market is expected to grow at a CAGR of 30.92% during the forecast period. Based on application, the global artificial intelligence in manufacturing market has been segmented into predictive maintenance and machine inspection, production planning, quality control, and others.

Manufacturers are using machine inspection solutions along with AI and IIoT technologies to automate the process of predicting machine breakdown. The increasing pressure on manufacturing facilities to improve productivity will be a key factor driving the adoption of AI for machinery inspection. Machine maintenance is one of the key areas that drive major cost savings and increase production value. The cost of machine downtime has been increasing over the years.

Request for: Free Sample Report

AI technology eliminates the need for scheduled shutting down of machinery and equipment to conduct preventive maintenance tasks, thus increasing productivity. Manufacturers are using predictive maintenance and ML not only to dramatically improve equipment efficiency and lower downtime cost in factories and industrial environments but also to enhance work area safety measures. Therefore, the predictive maintenance and machine inspection segment in the global artificial intelligence in manufacturing market is expected to grow rapidly during the forecast period.