Artificial Intelligence
$16.7 Billion AI in Manufacturing Market Assessment 2020-2026 – An Explosive Growth of 57.2% CAGR is Anticipated
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Dublin, Aug. 06, 2020 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), Technology (Machine Learning, Computer Vision, Context-Aware Computing, and NLP), Application, End-user Industry and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The AI in the manufacturing market is expected to be valued at USD 1.1 billion in 2020 and is likely to reach USD 16.7 billion by 2026; it is expected to grow at a CAGR of 57.2% during the forecast period.
The major drivers for the market are the increasing number of large and complex datasets (often known as big data), evolving Industrial IoT and automation, improving computing power, and increasing venture capital investments. The major restraint for the market is the reluctance among manufacturers to adopt AI-based technologies. The critical challenges facing the AI in the manufacturing market include limited skilled workforce, concerns regarding data privacy, and significant financial and operational impact of the COVID-19 outbreak on manufacturing.
The machine learning technology is expected to account for the largest size of the AI in manufacturing market during the forecast period.
Machine learning’s ability to collect and handle big data and its applications in real-time speech translation, robotics, and facial analysis is fuelling its growth in the manufacturing market. AI constitutes various technologies that play a vital role in developing its ecosystem. As AI enables machines to perform activities similar to those performed by human beings, enormous market opportunities have opened. The predictive maintenance and machinery inspection application of the AI in manufacturing market is projected to hold the largest share during the forecast period.
The predictive maintenance and machinery inspection application held the largest share of the AI in the manufacturing market in 2019. Extensive use of computer vision cameras in machinery inspection, adoption of the Industrial Internet of Things (IIoT), and use of big data in the manufacturing industry are the factors driving the growth of the AI in the manufacturing market for predictive maintenance and machinery inspection application. The increasing demand for reducing the operational costs and machine downtime is also supplementing the growth of predictive maintenance and machinery inspection application in industries.
The automobile industry held the largest size of the AI in manufacturing market in 2019.
The extensive use of computer vision cameras in machinery inspection and adoption industrial IoT are the factors driving the growth of the AI in the manufacturing market for the automobile industry. The application of AI to boost employee productivity, improve quality control, and gain better control over business support functions is supporting the growth of AI in the automobile industry.
Impact of COVID-19 on the AI in the manufacturing market The market is likely to witness a slight plunge in terms of year-on-year growth in 2020. This is largely attributed to the affected supply chains and limited adoption of AI in manufacturing in 2020 due to the lockdowns and shifting priorities of different industries. The ongoing COVID-19 pandemic has caused disruptions in economies. It is likely to cause supply chain mayhem and eventually force companies and entire industries to rethink and adapt to the global supply chain model.
Many manufacturing companies have halted their production, which has collaterally damaged the supply chain and the industry. This disruption has caused a delay in the adoption of AI-based software and hardware products in the manufacturing sector. The industries have started to restructure their business model for 2020, and many SMEs and large manufacturing plants have halted/postponed any new technology upgrade in their factories in order to recover from the losses caused by the lockdown and economic slowdown.
Research Coverage
The AI in the manufacturing market has been segmented based on offering, technology, application, industry and region. It also provides a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW.
Key Topics Covered 2 Research Methodology
3 Executive Summary 4 Premium Insights 5 Market Overview 6 Artificial Intelligence in Manufacturing Market, by Offering 7 Artificial Intelligence in Manufacturing Market, by Technology 8 Artificial Intelligence in Manufacturing Market, by Application 9 Artificial Intelligence in Manufacturing Market, by Industry 10 Artificial Intelligence in Manufacturing Market, by Region 11 Competitive Landscape 12 Company Profiles For more information about this report visit https://www.researchandmarkets.com/r/xbo5hj
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
1 Introduction
3.1 COVID-19 Impact Analysis: AI in Manufacturing Market
3.1.1 Pre-COVID-19 Scenario
3.1.2 Post-COVID-19 Scenario
4.1 Attractive Opportunities in AI in Manufacturing Market
4.2 AI in Manufacturing Market, by Offering
4.3 AI in Manufacturing Market, by Technology
4.4 APAC: AI in Manufacturing Market, by Industry and Country
4.5 AI in Manufacturing Market, by Country
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasingly Large and Complex Dataset
5.2.1.2 Evolving Industrial IoT and Automation
5.2.1.3 Improving Computing Power
5.2.1.4 Increasing Venture Capital Investments
5.2.2 Restraints
5.2.2.1 Reluctance Among Manufacturers to Adopt AI-Based Technologies
5.2.3 Opportunities
5.2.3.1 Growth in Operational Efficiency of Manufacturing Plants
5.2.3.2 Application of AI for Intelligent Business Process
5.2.3.3 Adoption of Automation Technologies to Curb Effects of COVID-19
5.2.4 Challenges
5.2.4.1 Limited Skilled Workforce
5.2.4.2 Concerns Regarding Data Privacy
5.2.4.3 Significant Financial and Operational Impact of COVID-19 Outbreak on Manufacturing
5.3 Value Chain Analysis
5.4 Case Studies
5.4.1 Siemens Gamesa Uses Fujitsu’s AI Solution to Accelerate Inspection of Turbine Blades
5.4.2 Volvo Uses Machine Learning-Driven Data Analytics for Predicting Breakdown and Failures
5.4.3 Rolls-Royce Using Microsoft Cortana Intelligence for Predictive Maintenance
5.4.4 Paper Packaging Firm Used Sight Machine’s Enterprise Manufacturing Analytics to Improve Production
5.5 Adjacent and Related Markets
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services
6.5 Impact of COVID-19 on Various Offering of AI Technology for Manufacturing
7.1 Introduction
7.2 Machine Learning
7.3 Natural Language Processing
7.4 Context-Aware Computing
7.5 Computer Vision
7.6 Impact of COVID-19 on Various Technologies of AI in Manufacturing
8.1 Introduction
8.2 Predictive Maintenance and Machinery Inspection
8.3 Material Movement
8.4 Production Planning
8.5 Field Services
8.6 Quality Control
8.7 Cybersecurity
8.8 Industrial Robots
8.9 Reclamation
9.1 Introduction
9.2 Automobile
9.3 Energy and Power
9.4 Pharmaceuticals
9.5 Heavy Metals and Machine Manufacturing
9.6 Semiconductors and Electronics
9.7 Food & Beverages
9.8 Others
10.1 Introduction
10.2 North America
10.3 Europe
10.4 APAC
10.5 RoW
11.1 Overview
11.2 Ranking of Players, 2019
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Scenario
11.4.1 Product Launches and Developments
11.4.2 Collaborations, Partnerships, and Agreements
11.4.3 Acquisitions & Joint Ventures
12.1 Key Players
12.1.1 Nvidia
12.1.2 Intel
12.1.3 IBM
12.1.4 Siemens
12.1.5 General Electric (GE) Company
12.1.6 Google
12.1.7 Microsoft
12.1.8 Micron Technology
12.1.9 Amazon Web Services (AWS)
12.1.10 Sight Machine
12.2 Other Companies
12.2.1 Progress Software Corporation (DataRPM)
12.2.2 AIbrain
12.2.3 General Vision
12.2.4 Rockwell Automation
12.2.5 Cisco Systems
12.2.6 Mitsubishi Electric
12.2.7 Oracle
12.2.8 SAP
12.2.9 Vicarious
12.2.10 Ubtech Robotics
12.2.11 Aquant
12.2.12 Bright Machines
12.2.13 Rethink Robotics GmbH
12.2.14 Sparkcognition
12.2.15 Flutura
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Artificial Intelligence
Aetion Launches Barcelona Technology Hub and Appoints Ken Watson as Chief Technology Officer
![aetion-launches-barcelona-technology-hub-and-appoints-ken-watson-as-chief-technology-officer](https://roboticulized.com/wp-content/uploads/2024/06/150576-aetion-launches-barcelona-technology-hub-and-appoints-ken-watson-as-chief-technology-officer.jpg)
BARCELONA, Spain, June 24, 2024 /PRNewswire/ — Aetion®, the global leader in real-world evidence (RWE) technology and analytics, announced today the creation of an RWE technology hub in Barcelona, Spain, to convene the most capable group of dedicated RWE technologists in the industry. Aetion also announced the appointment of Ken Watson as Chief Technology Officer (CTO). Ken draws upon his decades of experience at companies such as Microsoft, the Toronto Stock Exchange, and WeWork — as well as several startups he co-founded — and is responsible for leading Aetion’s overall engineering and product strategy.
Aetion established a presence in Barcelona in 2021 and has steadily grown its team there since. As part of the launch of its technology hub, Aetion will more than double the size of its engineering team in Spain, drawing top technical talent locally and from around Europe. The Barcelona team will work across Aetion’s product suite, enhancing existing offerings and continuing to innovate at the forefront of RWE technology. The recent release of Aetion® Discover — the first Aetion product to be built in Barcelona — was a turning point in establishing the city as Aetion’s new technology hub. Aetion Discover is a visual-first application designed for exploratory analyses on wide-ranging research questions from disease burden to unmet need, real-world value, and more, and it is already transforming the way clients generate insights quickly and at scale.
Ken joined Aetion in August 2023 as SVP of Engineering and, early on, led the successful launch of Discover and product enhancements such as an R development environment integrated with Aetion applications, workflow updates to Aetion® Substantiate, and new data management capabilities in the Aetion Evidence Platform®.
“As a technology leader of companies at all stages and sizes, and as a multi-time founder himself, Ken is the ideal person to lead Aetion’s overall technology and product organization and our Barcelona technology hub,” said Jeremy Rassen, Aetion President and Co-Founder. “His expertise in building global teams, combined with the mission-driven engineering talent in Barcelona, will be put toward solving complex problems and further accelerating our ambitious software roadmap.”
Ken shared, “I am honored to be stepping into the CTO role at this inflection point for Aetion. Building high-quality software in a rapidly evolving field takes entrepreneurial spirit and technical know-how, and I’m thrilled to bring my skills to help answer today’s most pressing questions in healthcare. With our expanded and co-located Barcelona team working closely with our world-class epidemiologists and data scientists, I am confident in our ability to deliver the next wave of software innovation that’s so critically needed in this era of novel treatment proliferation.”
Aetion is the only company to offer a full range of software products to turn real-world data into real-world evidence. All Aetion applications are built upon its flagship Aetion Evidence Platform, providing interoperability across applications while consistently drawing upon virtually any source data and hosting environment.
Contact [email protected] for more information on Aetion software and services, or [email protected] to inquire about roles in Aetion’s Barcelona Technology Hub.
About Aetion®
Aetion is a healthcare analytics company that delivers real-world evidence for the manufacturers, purchasers, and regulators of medical treatments and technologies. Aetion’s suite of real-world data analytics applications analyzes data from the real world to produce transparent, rapid, and scientifically validated answers on safety, effectiveness, and value. Founded by Harvard Medical School faculty members with decades of experience in epidemiology and health outcomes research, Aetion informs healthcare’s most critical decisions—what works best, for whom, and when—to guide product development, commercialization, and payment innovation. Learn more at aetion.com.
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Artificial Intelligence
Workers embrace AI and prioritise skills growth amid rising workloads and an accelerating pace of change: PwC 2024 Global Workforce Hopes & Fears Survey
![workers-embrace-ai-and-prioritise-skills-growth-amid-rising-workloads-and-an-accelerating-pace-of-change:-pwc-2024-global-workforce-hopes-&-fears-survey](https://roboticulized.com/wp-content/uploads/2024/06/150572-workers-embrace-ai-and-prioritise-skills-growth-amid-rising-workloads-and-an-accelerating-pace-of-change-pwc-2024-global-workforce-hopes-fears-survey.jpg)
Almost half (45%) of workers say their workload has increased significantly in the past year, as almost two-thirds (62%) say the pace of change at work has increased over the same timeMore than one-quarter (28%) say they are very or extremely likely to switch employer in the next 12 months – a higher proportion than during the ‘Great Resignation’ (19%) in 2022Employees prioritise skills-growth: fewer than half (46%) strongly or moderately agree that their employer provides adequate opportunities to learn new skills. This is particularly important for workers considering leaving: two-thirds (67%) say opportunities to learn new skills are a key factor in any decision to job-switchMore than 80% of workers who use generative AI daily expect it to make their time at work more efficient in the next 12 months. Half (49%) of all users expect it to lead to higher salariesCost-of-living pressures ease slightly: the proportion of workers with money left over each month rises to 45% (compared to 38% in 2023). However, 52% say they are still financially stressedLONDON, June 25, 2024 /PRNewswire/ — Among more than 56,000 workers across 50 countries and territories, many say they are prioritising long-term skills growth to accelerate their careers amid rising workloads and heightened workplace uncertainty, according to PwC’s 2024 Global Workforce Hopes & Fears Survey, published today.
In the last 12 months, workers say they have experienced rising workloads (45%) and an accelerating pace of workplace change. Nearly two-thirds (62%) say they have experienced more change at work in the past year than the 12 months prior, with two-fifths (40%) noting their daily responsibilities have changed to a large or very large extent. Almost half (44%) don’t understand the purpose of changes taking place.
In the midst of this growing mix of employee pressures, the findings suggest workers are alert to opportunities elsewhere, and are highly focused on skills growth and embracing AI.
More than one-quarter (28%) say they are likely to switch employer in the next 12 months, a percentage far higher than during the ‘Great Resignation’ (19%) of 2022. Two-thirds (67%) of those considering moving say skills is an important factor in their decision to stay with their current employer or switch to a new one.
Carol Stubbings, Global Markets and Tax & Legal Services (TLS) Leader, PwC UK, said:
“As workers face heightened uncertainty, rising workloads and continue to face financial stress, they are prioritising skills growth and embracing new and emerging technologies such as GenAI to turbocharge their growth and accelerate their careers. The findings suggest that job satisfaction is no longer enough. Employees are placing an increased premium on skills growth in a climate characterised by constant technological change. Employers must ensure they are investing in their employees and technological platforms to mitigate employee pressures and retain the brightest talent.”
Workers embrace AI to ease workplace pressures and unlock personal growth
As employees face heightened workplace pressures, they are also turning to new and emerging technologies such as generative AI (GenAI) to help. Among those employees who use GenAI daily, 82% expect it to make their time at work more efficient in the next 12 months.
Employees are also optimistic about opportunities for GenAI to support their growth. Half (49%) of all users expect GenAI to lead to higher salaries – an expectation that’s even higher (76%) among employees who use the technology daily. More than 70% of users agree that GenAI tools will create opportunities to be more creative at work (73%) and improve the quality of their work (72%).
The skills imperative
Workers are placing an increased premium on skills growth to mitigate their concerns and accelerate their careers. Employees who say they are likely to switch employers in the next 12 months are nearly twice as likely to strongly consider upskilling in that decision than workers planning to stay (67% vs. 36%). This comes as fewer than half (46%) of all employees moderately or strongly agree that their employer provides adequate opportunities to learn new skills that will be helpful to their careers.
Employees who are likely to leave in the next year may be more attuned to skills changes that are needed than the general workforce, with 51% moderately or strongly agreeing that the skills their job requires will change in the next five years (vs. 29% of those unlikely to change employer).
There is particular interest in the impact of AI on skills development, with 76% of all users expecting it to create opportunities to learn new skills at work. However, employers will need to invest heavily in new and emerging technology training and access. Among employees who have not used GenAI at work in the last 12 months, one-third (33%) don’t think there are opportunities to use the technology in their line of work, while 24% don’t have access to the tools at work, and 23% don’t know how to use the tools.
Despite the pace of change, there are also signs of optimism and engagement at work. 60% of workers expressed at least moderate job satisfaction (up from 56% in 2023) while more than half (57%) of employees who view fair pay as important agree that their job is fairly paid. Cost-of-living pressures have slightly eased since 2023 (the proportion of workers with money left over each month has risen to 45%, up from 38%). However, more than half (52%) say they are still financially stressed to some degree.
Pete Brown, Global Workforce Leader, PwC UK, said:
“Technology is fundamentally transforming the way work gets done and the types of skills employers are looking for. Employees are therefore placing an increased premium on organisations that invest in their skills growth so that they can stay relevant and thrive in a digital world. Businesses in turn must be proactive in their upskilling programs – prioritising the employee experience and being transparent. Because when you meaningfully engage your workforce, they become an accelerant for successful transformation.”
Notes to Editors:
About the Survey
In March 2024, PwC surveyed 56,600 individuals across 50 countries and territories who are in work or active in the labour market. The sample was designed to reflect a range of industries, demographic characteristics and working patterns. You can read the full report on pwc.com.
About PwC
© 2024 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
Contact: Imran Javaid, Global Corporate Affairs and Communications, PwC UK: [email protected] Dan Barabas, Global Corporate Affairs and Communications, PwC UK: [email protected]
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Artificial Intelligence
Amagi Showcases New Stream Technology With VIZIO
![amagi-showcases-new-stream-technology-with-vizio](https://roboticulized.com/wp-content/uploads/2024/06/150574-amagi-showcases-new-stream-technology-with-vizio.png)
Amagi’s new Zero Slate delivers personalized linear streaming, resulting in increased viewership on VIZIO FAST channels
NEW YORK, June 24, 2024 /PRNewswire/ — Amagi, the global leader in cloud-based SaaS technology for broadcast and Connected TV (CTV), today announced the first successful showcase of Amagi’s Zero Slate technology on VIZIO’s owned and operated WatchFree+ channels, part of Amagi’s broader Stream Personalization initiative. This innovative new offering enhances the streaming experience with its highly impactful, patent-pending technology that can dynamically adjust the length of ad breaks on a per-viewer basis, eliminating the need for slates or filler to round out linear ad breaks.
This new “viewer-first” personalized approach to digital streaming has already demonstrated a lift in viewership (Amagi ANALYTICS showing more than 20% increase) on VIZIO’s owned and operated channels utilizing the Zero Slate capabilities. This industry-first innovation from Amagi paves the path for a more engaging and profitable future for entertainment and enhanced viewer experiences.
Data from Amagi ANALYTICS indicates that slates, often used to fill the unsold portion of ad pods, may increase viewer churn by as much as 15% in today’s Free Ad-supported Streaming TV (FAST) ecosystem. Zero Slate’s early success demonstrates that personalizing pod length can boost viewer engagement, enabling more high-quality viewing experiences over time. This capability also represents an important first step for Amagi toward a broader suite of Stream Personalization capabilities that offer even more engaging linear viewing experiences.
“We are pleased to partner with Amagi on this showcase of their Zero Slate technology. This collaboration reinforces VIZIO’s commitment to enhancing user experiences and delivering personalized content as we expand Zero Slate across more channels,” said Katherine Pond, Group Vice President of Platform Content and Partnerships at VIZIO.
“We are grateful to have partnered with an industry leader like VIZIO to test the impact of our new Zero Slate capability and are excited about Stream Personalization’s ability to further transform the linear viewing experience,” said Srinivasan KA, Co-founder and Chief Revenue Officer, Amagi.
About VIZIOFounded and headquartered in Orange County, California, our mission at VIZIO Holding Corp. (NYSE: VZIO) is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. We are driving the future of televisions through our integrated platform of cutting-edge Smart TVs and powerful operating system. We also offer a portfolio of innovative sound bars that deliver consumers an elevated audio experience. Our platform gives content providers more ways to distribute their content and advertisers more tools to connect with the right audience.
For more information, visit VIZIO.com and follow VIZIO on Facebook, Twitter, and [email protected]
About AmagiAmagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000 channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
Link to Word Doc: www.wallstcom.com/Amagi/240624-Amagi-VIZIO_ZSlate.docx
Agency Contact:Joseph LesieutreWall Street CommunicationsEmail: [email protected]
Amagi Contact:Aashish WashikarDirector – Corporate CommunicationsEmail: [email protected]: +91 9533390005
View original content:https://www.prnewswire.co.uk/news-releases/amagi-showcases-new-stream-technology-with-vizio-302180925.html
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