Global Artificial Industrial in Manufacturing Market.
As per the analysis by Market Research Future Reports (MRFR), the global artificial industrial in the manufacturing market is estimated to value USD 4.9 Billion, with a CAGR of 45% during the forecast period from 2017 to 2023. The global artificial industrial manufacturing market 2020 is very competitive. The major competitors are implementing various strategies like innovation, mergers and acquisitions, investment in research and development, and economic portfolio. Several domestic and international brands continue to form a competitive environment. Moreover, the rising demand for the betterment of the operational efficiency of manufacturing plants is estimated to foster the market. Besides, various developments in operating technologies with artificial technologies are helping the market to expand. Other major factors leading to the growth of the market are industrial internet of things, computer vision technology, big data technology in manufacturing, cross-industry partnerships and collaborations, extensive usage of robotics, and an increase in venture capital investment.
However, the COVID-19 breakthrough is likely to hamper the expansion of the market. We will provide COVID-19 impact analysis with the report. The market is estimated to experience expansion in the forthcoming period, i.e., post COVID-19 period. Besides, expenses related to technological innovations, the hesitance of manufacturers to adopt industrial-based technologies are likely to impede the augmentation.
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The global artificial industrial in the manufacturing market can be classified on the basis of components, technology, end-users, and region.
On the basis of components, the global artificial industrial in the manufacturing market can be segmented into software and hardware. Among these, the software segment accounted for the largest market share. However, the hardware segment is likely to expand during the forecast period.
On the basis of technology, the global artificial industrial in the manufacturing market can be segmented into Natural Language Processing, Deep Learning, Computer Vision, Context Awareness, and others.
On the basis of end-users, the global artificial industrial in the manufacturing market can be segmented into Healthcare, Semiconductor, Automobile, Food & Beverages, Electronics, Manufacturing, Energy & Power, and others.
On the basis of region, the global artificial industrial in the manufacturing market can be segmented into North-America, Asia-Pacific, Europe, and the Rest of the World (RoW).
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