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Artificial Intelligence in Manufacturing Market Size to reach USD 78,744 Million by 2030 Exclusive Report by Acumen Research and Consulting

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Acumen Research and Consulting recently published report titled “Artificial Intelligence in Manufacturing Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”

BEIJING, July 11, 2022 (GLOBE NEWSWIRE) — The Global Artificial Intelligence in Manufacturing Market size accounted for USD 2,963 Million in 2021 and is estimated to reach USD 78,744 Million by 2030.

The rising volume of complex data sets is the leading factor boosting the global artificial intelligence in manufacturing market revenue. Our worldwide artificial intelligence in manufacturing industry analysis suggests that the manufacturers require artificial intelligence (AI) in their facilities due to the surging need for enhanced productivity and automation.

AI is being used by manufacturers to enhance day-to-day operations, introduce new products, personalize designs, and forecast future financials. According to an MIT survey, about 60% of industry players are already using artificial intelligence. Similarly, according to a recent Forbes survey on AI, 44% of automotive manufacturing respondents rated AI as “extremely important” to production in the next five years, and 49% said it was “absolutely critical to success.” Despite this, more than half of automotive respondents (56%) said they plan to increase AI expenditure by less than 10%.

According to Accenture and Frontier Economics, AI-powered technologies could boost labor productivity by up to 40% throughout 16 industries, including manufacturing, by 2035. In the same publication, the authors claim that artificial intelligence (AI) could boost the manufacturing sector’s GVA by nearly 45% by 2035, especially in comparison to business as usual.

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Report Coverage:

Market Artificial Intelligence in Manufacturing Market
Market Size 2021 USD 2,963 Million
Market Forecast 2030 USD 78,744 Million
CAGR During 2022 – 2030 44.3%
Analysis Period 2018 – 2030
Base Year 2021 
Forecast Data 2022 – 2030
Segments Covered By Offering, By Technology, By Application, By Industry Vertical, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Amazon Web Services, Bosch, Cisco Systems, Foxconn General Electric Company,
Google, Inc., IBM Corporation, Intel, Inc., Microsoft Corporation, Nvidia Corporation,
Rockwell Automation, SAP SE, and Siemens AG.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope 10 hrs of free customization and expert consultation

Impact of COVID-19 pandemic on Global Artificial Intelligence in Manufacturing Market

The manufacturing industry has been severely impacted by the global shutdown. As a result, the use of artificial intelligence in the industry has been hampered to some degree. According to a survey from the National Association of Manufacturers (US) in February and March 2020, more than 78% of respondents said the COVID-19 pandemic has had a detrimental effect on their industry.

Conversely, the advantages of artificial intelligence were used as a crisis management solution by a variety of manufacturing companies. Thanks to AI, countries have managed to categorize different patterns from big data, endorse people’s healthcare systems, and regulate disease spread to some extent. A number of applications also were developed to help stabilize the system as a whole.

AI in Manufacturing Market Dynamics

The growing adoption of IoT, big data, and factory automation is one of the prominent trends in artificial intelligence in manufacturing market. Additionally, the advent of industry 4.0 is another trend driving AI in manufacturing market growth. Our analysis of the artificial intelligence in manufacturing market forecast that the rising venture capital investment in AI and changing consumer behavior and demand have escalated the need for AI in manufacturing industries. However, lack of skilled professionals, lack of awareness and technology integration among emerging economies, and threat to human dignity are some of the aspects that are plummeting the industry growth. Furthermore, increasing focus on boosting operational efficiency, adoption of automation technologies to mitigate the effects of COVID-19, and application of AI for intelligent business processes are some of the aspects that are likely to generate numerous growth opportunities for the market during the forecast timeframe.

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https://www.acumenresearchandconsulting.com/table-of-content/artificial-intelligence-in-manufacturing-market

Worldwide Artificial Intelligence in Manufacturing Market Segmentation

The global artificial intelligence in manufacturing market has been segmented into offering, technology, application, industry vertical, and region. Based on offering the market is categorized as hardware, software, and services. Among them, the hardware segment is expected to lead the market with maximum shares. Machine learning (ML), natural language processing (NLP), context-aware computing, and computer vision are the categories of the technology segment. Machine learning is one of the leading sub-segments among technologies. The application segment can be split into cyber security, field services, production planning, quality control, predictive maintenance and machinery inspection, inventory optimization, and others. Production planning and quality control will occupy considerable artificial intelligence in manufacturing market share during the forecast timeframe. Furthermore, the industry vertical segment is sub-segmented into automotive, pharmaceuticals, food & beverages, semiconductor & electronics, energy & power, and others (aerospace, mining, and textile). Based on our analysis, the automotive segment generated significant revenue in 2021, while the semiconductor & electronics segment achieved a robust growth rate in the coming years.

Artificial Intelligence in Manufacturing Market Regional Overview

The global artificial intelligence in manufacturing market regional outlook is given as North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. The Asia-Pacific region accounted for the leading market share in 2021. Additionally, Europe is also considered one of the major regions in the AI manufacturing sector. According to a Capgemini study, artificial intelligence is used by 51% of European manufacturers, particularly in comparison to 30% in Japan and 28% in the U. S. According to Capgemini, the two most common use cases for AI in manufacturing are maintenance and quality assurance.

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AI in Manufacturing Market Players

Some artificial intelligence in manufacturing companies covered globally includes Amazon Web Services, Bosch, Cisco Systems, Foxconn General Electric Company, Google, Inc., IBM Corporation, Intel, Inc., Microsoft Corporation, Nvidia Corporation, Rockwell Automation, SAP SE, and Siemens AG.

Browse More Research Topic on Artificial Intelligence Category:

The Global Artificial Intelligence (AI) In Healthcare Market Size is expected to reach over USD 40.2 billion by 2026 growing at a sound CAGR of over 49.7% during 2019 to 2026.

The Global Artificial Intelligence In Transportation Market is anticipated to reach market size of around USD 5,000 Million by 2027.

The Artificial Intelligence In Sports Market is expected to grow at a CAGR of around 32.8% from 2020 to 2027 and expected to reach the market value of around USD 3,555.9 Million by 2027.

About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

Wego and Tourism Authority of Thailand Partner for The Fourth Consecutive Year, Showcasing the Beauty of Thailand

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DUBAI, UAE, April 25, 2024 /PRNewswire/ — Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its continued partnership with the Tourism Authority of Thailand (TAT) for the fourth consecutive year, showcasing the unparalleled beauty and charm of Thailand as a premier travel destination.

 
 
Building upon the success of their previous collaborations, Wego and the Tourism Authority of Thailand are once again teaming up to promote Thailand’s diverse attractions, rich culture, and breathtaking landscapes to travelers worldwide. Through this strategic partnership, Wego aims to inspire travelers to explore the wonders of Thailand and experience its unique blend of tradition and modernity.
Over the past campaigns, Wego and the Tourism Authority of Thailand have successfully amplified Thailand’s appeal as a top travel destination, reaching millions of travelers and driving significant interest in visiting the country. From its pristine beaches and vibrant cities to its lush jungles and cultural heritage sites, Thailand offers an array of experiences that cater to every traveler’s preferences.
“We are delighted to continue our partnership with the Tourism Authority of Thailand for the fourth consecutive campaign,” said Mamoun Hmedan, Chief Business Officer, Wego. “Thailand is a beloved destination for travelers worldwide, and we are committed to showcasing its beauty and diversity through our platform. Together with the Thailand Tourism Board, we look forward to inspiring even more travelers to explore all that Thailand has to offer.”
The success of the previous campaigns underscores the effectiveness of Wego and the Thailand Tourism Board’s collaborative efforts in promoting Thailand as a must-visit destination. By leveraging Wego’s extensive reach and innovative marketing capabilities, the partnership aims to further elevate Thailand’s profile and attract more travelers to experience the magic of the Land of Smiles.
“We are thrilled to continue our partnership with Wego for the fourth campaign,” said Mr. Chaiwat Tamthai, Director of TAT Dubai office. “Thailand offers an unparalleled travel experience, from its stunning beaches and vibrant cities to its rich cultural heritage. Through our collaboration with Wego, we are excited to showcase the beauty of Thailand to travelers in the MENA region and invite them to discover the wonders of our country.”
As travelers seek unforgettable experiences and breathtaking landscapes, Wego and the Tourism Authority of Thailand are committed to showcasing Thailand’s unique charm and allure, inviting travelers to embark on an unforgettable journey to this enchanting destination.
About Wego
Wego provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
Wego was founded in 2005 and is dual headquartered in Dubai and Singapore with regional operations in Bangalore, Riyadh, Cairo, Lahore, and Kuala Lumpur.
 
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Artificial Intelligence

Building Energy Management Systems Market Projected to Reach $67.69 billion by 2030 – Exclusive Report by 360iResearch

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PUNE, India, April 24, 2024 /PRNewswire/ — The report titled “Building Energy Management Systems Market by Component (Hardware, Services, Software), Type (Integrated Building Energy Management Systems, Standalone Building Energy Management Systems), Application, Deployment Mode, End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $34.52 billion in 2023 to reach $67.69 billion by 2030, at a CAGR of 10.09% over the forecast period.

 
“Revolutionizing Energy Efficiency Globally With The Evolution of Building Energy Management Systems (BEMS)”
In an era where energy conservation and efficiency have become paramount, building energy management systems (BEMS) are at the forefront of this transformation, offering solutions that monitor, control, and optimize energy usage within buildings. These advanced systems, leveraging real-time data analytics, automate energy control, enhance energy savings, reduce costs, and contribute to a greener planet. Primarily utilized in commercial spaces, residential areas, and industrial sectors, BEMS has a broad application scope, covering HVAC, lighting, and security systems. Factors driving the expansion of the BEMS market include escalating energy expenses, heightened awareness of environmental impacts, and the increasing incorporation of Internet of Things (IoT) and cloud-based technologies, coupled with supportive government initiatives promoting energy-efficient infrastructures. Although challenges such as high initial costs and technology integration barriers exist, the advent of AI and IoT technologies within BEMS heralds a future of predictive energy management and remote operational capabilities, with a growing emphasis on integrating renewable energy sources. Regions such as the United States, Canada, the European Union, and emerging economies such as China and India are witnessing significant growth in BEMS adoption, spurred by regulatory policies and a shift towards sustainable building practices. This global movement toward BEMS signals a step toward reducing carbon footprints and highlights the collective effort to embrace technology for a sustainable future.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Harnessing Energy Management for Sustainability and Efficiency”
Data centers are pivotal infrastructures in the digital transformation era, consuming up to 50 times more energy than typical commercial spaces. This energy demand positions data centers as key contributors to the U.S.’s overall electricity consumption. Recognizing this, implementing building energy management systems (BEMS) is crucial in mitigating the environmental impact and operational costs associated with data centers. BEMS optimizes cooling systems to prevent equipment overheating, thereby enhancing energy efficiency by leveraging real-time data. Such systems reduce the power usage effectiveness (PUE) ratio, highlighting a move toward more sustainable consumption patterns and ensuring data centers’ operational continuity. Integrating seamlessly with existing infrastructure, BEMS offers a comprehensive approach to energy management, enabling more innovative cooling, efficient power usage, and predictive maintenance. This transition highlights a commitment to environmental responsibility and fosters operational efficiency, setting a new standard for data center operations worldwide.
“Revolutionizing Building Efficiency With Advanced Energy Management Systems Optimized Usage”
In push toward sustainability, building energy management systems (BEMS) stands at the forefront of innovation, integrating sophisticated hardware such as sensors, actuators, controllers, and more to manage and reduce energy consumption in buildings meticulously. These systems work in concert to monitor environmental conditions and adjust heating, ventilation, and air conditioning (HVAC) settings in real time, leading to significant energy savings. BEMS provides valuable data that helps identify savings opportunities, while networking tools ensure seamless communication between devices by precisely tracking energy flow through meters. Servers process vast amounts of data, enabling detailed analysis and actionable insights to refine energy use further. Additionally, comprehensive services, including customized consultations and dedicated support, ensure that each BEMS is tailored to a building’s unique needs, providing efficient operation and extended system longevity. BEMS exemplifies the strategic shift toward more sustainable and operationally excellent building management through the collaborative synergy of hardware, software, and expert services.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Schneider Electric SE at the Forefront of Building Energy Management Systems Market with a Strong 13.97% Market Share”
The key players in the Building Energy Management Systems Market include Schneider Electric SE, Honeywell International Inc., Azbil Corporation, Emerson Electric Co., Johnson Controls International PLC, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Building Energy Management Systems Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Building Energy Management Systems Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Building Energy Management Systems Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/building-energy-management-systems
“Dive into the Building Energy Management Systems Market Landscape: Explore 180 Pages of Insights, 566 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsBuilding Energy Management Systems Market, by ComponentBuilding Energy Management Systems Market, by TypeBuilding Energy Management Systems Market, by ApplicationBuilding Energy Management Systems Market, by Deployment ModeBuilding Energy Management Systems Market, by End-UseAmericas Building Energy Management Systems MarketAsia-Pacific Building Energy Management Systems MarketEurope, Middle East & Africa Building Energy Management Systems MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
Related Reports:
Home Energy Management System Market – Global Forecast 2024-2030Energy Management System Market – Global Forecast 2024-2030Intelligent Building Automation Technologies Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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Artificial Intelligence

Terra Drone, Unifly, and Aloft Launch UTM Development for AAM Targeting Global Markets

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TOKYO, April 25, 2024 /PRNewswire/ — Terra Drone Corporation, a leading drone and Advanced Air Mobility (AAM) technology provider headquartered in Japan, announced today the launch of joint development with its Group companies Unifly NV (“Unifly”) and Aloft Technologies Inc. (“Aloft”) focused on UAS Traffic Management (UTM) for AAMs targeting global markets. Terra Drone has been making strides in its pioneering UTM business via strategic investments in Unifly, a leading UTM technology provider based in Belgium, and Aloft, which has the top UTM market share in the U.S. This collaboration marks the world’s first-ever joint UTM development for AAMs by multiple companies with extensive track records in UTM implementation and operation.

The three companies pursue joint UTM development to capitalize on the rapid global progress in electric vertical take-off and landing aircrafts (eVTOLs), set to revolutionize transportation. Morgan Stanley forecasts the Urban Air Mobility (UAM) market to reach $1 trillion by 2040 and $9 trillion by 2050 (1), with eVTOLs gaining global recognition through test flights and prototype showcases.
The companies proudly announce initiatives to enhance their existing UTM platforms in anticipation of the surge in eVTOL aircraft and drone activities. The shared vision for the UTM platform is to enable safe and efficient flight operations for eVTOLs and drones in the foreseeable future.
Recognizing the evolving needs of the AAM industry, they are dedicated to extending their platform by incorporating crucial additional functions. These enhancements, designed with automation at their core, aim to streamline operational efficiencies and pave the way for the integration of their increasingly automated UTM technology into the design and operational framework of AAMs. Through these efforts, they aim to set new standards in UTM and to facilitate the seamless integration of eVTOLs and drones into the national airspace, bolstering the potential for the AAM industry.
Through this initiative, they aim to build a global UTM infrastructure that kickstarts the AAM industry worldwide, creating a cohesive ecosystem that supports AAM growth and addresses broader challenges of urban mobility, sustainability, and air traffic safety.
Notes to Editor:
Research by Morgan Stanley in a report titled “eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky’s the Limit” https://advisor.morganstanley.com/the-busot-group/documents/field/b/bu/busot-group/Electric%20Vehicles.pdf] 
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