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Artificial Intelligence in Manufacturing Market worth $20.8 billion by 2028 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Sept. 25, 2023 /PRNewswire/ — The Artificial Intelligence in Manufacturing Market is expected to reach USD 20.8 billion by 2028 from USD 3.2 billion in 2023, at a CAGR of 45.6% during 2023 to 2028 according to a new report by MarketsandMarkets™. The significant growth factor associated with the Artificial Intelligence in Manufacturing Market growth is the Rising need to handle increasingly large and complex dataset, emerging industrial IoT and automation technology. The AI in manufacturing market is witnessing significant growth because of the extensive usage of big data, industrial robots, and the evolution of the Internet of Things (IoT), along with a few macro drivers such as emphasis on value creation and experiential customers. 

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Browse in-depth TOC on “Artificial Intelligence in Manufacturing Market”
208 – Tables 67 – Figures280 – Pages
Artificial Intelligence in Manufacturing Market Report Scope:
Report Coverage
Details
Market Revenue in 2023
$ 3.2 billion
Estimated Value by 2028
$ 20.8 billion
Growth Rate
Poised to grow at a CAGR of 45.6%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Offering, Technology, Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Lack of skilled workforce, especially in developing countries
Key Market Opportunities
Application of AI-driven machine learning and NLP for intelligent enterprise processes
Key Market Drivers
Rising need to handle increasingly large and complex dataset
Hardware segment to grow with higher CAGR during the forecast period.
The artificial intelligence in manufacturing market based on offering has been segmented into hardware, software, and services. The market for the hardware segment has been sub-segmented into processors, memory, and network. Different types of processors considered in the scope of this report are microprocessor units (MPUs), graphics processing units (GPUs), field-programmable gate arrays (FPGAs), and application-specific integrated circuits (ASICs). The demand for high-computing processors to run AI algorithms is rising significantly. In the processor market, the GPU sub-segment is expected to witness substantial growth in the coming years owing to its high parallel computing capabilities.
Computer vision technology segment to grow with higher CAGR during the forecast period.
Computer vision technology is concerned with the physical structure of 3D objects attached to an intelligent computing system. Computer vision analyzes the information of different geometric shapes, volumes, and patterns and provides visual feedback to the user, which is used to draw the inference. Computer vision is mainly used for predictive maintenance and machinery inspection purposes. The technology is mainly used in the automotive, energy & power, and heavy metals & machine manufacturing industries. In the automotive industry, this technology is used for 3 stages—gauges, inspections, and identification.
Predictive maintenance & Machinery Inspection to hold largest market share through the forecast period.
Predictive maintenance and machinery inspection is a regular and systematic application of AI, which ensures the proper functioning of different equipment and reduces their rate of deterioration. AI technology in predictive maintenance and machinery inspection is used in regular examination, inspection, lubrication, testing, and equipment adjustments. The growing need to reduce operational costs due to untimely machine failures and machine downtime is crucial in adopting AI-based solutions in predictive maintenance and machinery inspection applications. Factors such as the generation of a large volume of machine data, advantages offered by AI systems to manufacturers in predictive maintenance and machinery inspections, and the entry of many startups in this segment are driving the growth of the artificial intelligence in manufacturing market. 
Automotive industry to hold largest market share in 2023.
The artificial intelligence in manufacturing industry for the automotive industry held the largest share of the overall market in 2023. To reduce costs and improve vehicle production quality, automakers have started using computer vision and machine learning technologies. Use of AI in Automotive industry reduces downtime, vehicle recalls, and financial losses. Moreover, Predictive analytics can be used to evaluate whether a flawed part can be reworked or needs to be scrapped.
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Asia Pacific is anticipated to grow at the highest CAGR during the forecast period.
Asia Pacific consists of some of the fastest-growing economies—such as China, Japan, and India. The market in Asia Pacific is propelled by factors such as rapid industrialization, the substantial growth of e-commerce, rising labor costs, technological advancements in warehouses, progressing logistics and warehousing sectors, and the extensive focus on Industry 4.0. Moreover, the strong economic growth in this region is attracting further investments from AI in manufacturing suppliers for establishing sales and support facilities.
The report profiles key players in artificial intelligence in manufacturing companies such Siemens (Germany), IBM (US), Intel Corporation (US), NVIDIA Corporation (US), and General Electric Company (US) and others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
Artificial Intelligence (AI) Market by Offering (Hardware, Software), Technology (ML (Deep Learning (LLM, Transformers (GPT 1, 2, 3, 4)), NLP, Computer Vision), Business Function, Vertical, and Region – Global Forecast to 2030
Artificial Intelligence (chipsets) Market by Technology (Machine Learning, Natural Language Processing, Computer Vision), Function (Training, Inference), Hardware (Processor, Memory, Network), End-user Industry and Region – Global Forecast to 2028
Artificial Intelligence in Cybersecurity Market by Offering (Hardware, Software, and Service), Deployment Type, Security Type, Technology (ML, NLP, and Context-Aware), Application (IAM, DLP, and UTM), End User and Geography – Global Forecast to 2028
Industry 4.0 Market Size, Share & Industry Growth Analysis Report by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV’s, Machine Condition Monitoring) and Geography – Global Growth Driver and Industry Forecast to 2026
Artificial Intelligence in Supply Chain Market by Offering, Technology, Application (Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Freight Brokerage), End-User Industry, and Geography – Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/artificial-intelligence-manufacturing-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/artificial-intelligence-manufacturing.asp
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Artificial Intelligence

Globant Augments Software Development Life Cycle with Its New AI Agents

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Globant’s more than 10 years of investment in AI are now reflected in an innovative suite of AI Agents and products to empower teams and boost resultsThese new AI Agents will be augmented by humans and will impact the full SDLC, including backend prototyping, application design, testing, and more, to enhance efficiency by solving tasks autonomously SAN FRANCISCO, June 27, 2024 /PRNewswire/ — Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, announced the integration of its proprietary AI Agents to the software development life cycle (SDLC) to enhance its core development capabilities. Supervised by humans, these AI Agents are designed to enhance Globant’s solutions and keep supporting various industries in accelerating their AI adoption.
Combined with Globant X’s already existing AI products such as Augoor, MagnifAI, Navigate, GeneXus Next, and GeneXus Enterprise AI, the new AI Agents co-create more efficient development cycles by autonomously performing tasks. Globant’s teams will leverage new AI Agents throughout the full cycle with the following initial set of Agents:
– Product Definition AI Agent: Takes multiple inputs to break down the user stories that the development team needs to build a product
– Backend Prototyping AI Agent: Enables users, regardless of their technical knowledge, to create the backend of a business application in record time  
– Application Design AI Agent: Brings your vision to life from a simple text input, accelerating the design process and simplifying teamwork
– Code Tester AI Agent: Helps companies deliver high-quality software, faster, by developing comprehensive test plans and executing those tests
– Code Fixer AI Agent: Fixes issues based on contextual understanding of the existing codebase and the reported bug
“Until today, the power of AI productivity lay largely in the hands of individuals. Globant is bringing a breakthrough shift in the symbiotic relation between AI and humans by introducing a set of sophisticated AI Agents. Augmented and supervised by humans, these AI Agents will streamline operations, bring efficiencies, and grant scalability at a corporate level. The potential productivity gain of AI Agents rivals the breakthrough of Henry Ford’s assembly line, which made manufacturing more efficient and scalable,” said Martín Migoya, Co-Founder and CEO of Globant.
As an industry pioneer, Globant has incorporated artificial intelligence throughout its organization since 2013 to create best-in-class solutions that deliver real value to clients. From the initial launch of the Data and AI Studio to the creation of these AI Agents, Globant remains at the forefront of innovation. Almost  100% of Globant’s pods are AI-certified, ensuring that all teams can apply the power of AI to every one of their projects.
“We are transforming our approach to product development by utilizing advanced AI to bring out the best of both worlds: technology and humanity,” said Diego Tartara, Chief Technology Officer at Globant. “Enhancing human and AI collaboration is poised to revolutionize business operations, leading to unprecedented productivity and growth to many industries. Globant’s AI Agents combined with our suite of AI platforms provide a clear advantage to help organizations benefit from these gains.” 
Globant harnesses disruptive tech to put businesses at the forefront. To learn more about Globant’s AI and digital transformation journey, solutions, and milestones, click here.
About GlobantAt Globant, we create the digitally-native products that people love. We bridge the gap between businesses and consumers through technology and creativity, leveraging our experience as an AI powerhouse. We dare to digitally transform organizations and strive to delight their customers.
We have more than 28,900 employees and are present in 33 countries across 5 continents, working for companies like Google, Electronic Arts, and Santander, among others.We were named a Worldwide Leader in AI Services (2023) and a Worldwide Leader in CX Improvement Services (2020) by IDC MarketScape report.We are the fastest-growing IT brand and the 5th strongest IT brand globally (2024), according to Brand Finance.We were featured as a business case study at Harvard, MIT, and Stanford.We are active members of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.Contact: [email protected] Sign up to get first dibs on press news and updates.For more information, visit www.globant.com

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Value-Added Resellers (VARs) Software Market Size to Grow at a CAGR of 11% | Valuates Reports

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BANGALORE, India, June 27, 2024 /PRNewswire/ — Value-Added Resellers (VARs) Software Market is Segmented by Type (On-premise, Cloud-based), by Application (Large Enterprises, SMEs): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Value-Added Resellers (VARs) Software Market was valued at 550 million USD in 2023 and witnessed a CAGR of 11% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Value-Added Resellers (VARs) Software Market
The value-added reseller (VAR) industry is expanding as a result of numerous important causes. The growing complexity of technological solutions, which necessitates specialist knowledge to customize goods to match particular client needs, is one important factor. VARs’ ability to provide specialized solutions that go above and beyond the original products makes them more appealing to companies searching for streamlined, integrated systems. The demand for VARs is also increasing due to the growth of cloud computing and digital transformation initiatives across various industries, since they offer vital services including integration, support, and consulting. Businesses must look for VARs in order to obtain a technology advantage and boost operational efficiency due to the competitive marketplace.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL VALUE-ADDED RESELLERS (VARS) SOFTWARE INDUSTRY
The market for VAR software is mostly driven by large organizations’ embrace of cloud-based solutions. Cloud solutions are becoming more and more popular among large organizations because of their affordability, scalability, and flexibility, which allow them to effectively manage enormous volumes of data and intricate IT infrastructures. Cloud technologies facilitate worldwide collaboration and remote work, which are crucial in today’s dispersed work contexts. VARs are essential to this shift because they offer knowledge and experience with cloud migration, integration, and continuous support. They support businesses in tailoring cloud solutions to particular use cases, guaranteeing a smooth transition from old to new systems, and upholding strict security and regulatory requirements. Large enterprise IT environments are complicated, requiring specialist assistance and customized solutions, which VARs are well-positioned to provide.
Another important driver propelling the growth of the VARs software market is the increasing number of small and medium-sized businesses (SMBs) implementing cutting-edge software solutions. SMBs are realizing more and more how crucial it is to use technology to enhance customer experiences, streamline processes, and stay competitive. These companies, however, frequently lack the internal knowledge necessary to setup and oversee sophisticated software systems. SMBs may more easily embrace and profit from cutting-edge software solutions when VARs offer the required knowledge and assistance. VARs fuel market growth by enabling SMBs to compete with larger organizations through the provision of scalable and inexpensive solutions. The market for VAR software is developing as a result of SMBs’ tendency toward digital transformation and their increasing reliance on specialist software solutions.
The VARs software sector has undergone a transformation thanks to the emergence of cloud computing and Software-as-a-Service (SaaS) models. Cloud-based solutions are very appealing to companies of all sizes because they provide several benefits, such as lower upfront costs, scalability, and remote access. By adding cloud solutions into their portfolios, VARs have profited from this trend and given their clients the efficiency and flexibility they require in the fast-paced business world of today. In example, SaaS models give companies access to advanced software without requiring hefty infrastructure investments. The move to cloud computing has increased the importance of VARs because they now offer cloud-based solution integration, deployment, and continuing maintenance. The market for VAR software is expanding due to the growing demand for cloud solutions.
One of the main factors propelling the VARs software industry is the need for integration and customized services. Software solutions that may be customized to a business’s unique workflows and connected with current systems are frequently needed. These services are best provided by VARs, who also offer seamless interaction with other enterprise apps and bespoke software setups. The ability to customize solutions to specific business requirements and guarantee compatibility with current systems improves VARs’ overall value proposition. For companies with complicated IT environments, where off-the-shelf software solutions might not work well, customization and integration services are especially crucial. VARs help companies maximize their software investments and boost operational effectiveness by attending to these needs. The market for VAR software is growing due to the rising need for tailored software solutions and seamless integration.
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VALUE-ADDED RESELLERS (VARS) SOFTWARE MARKET SHARE
Because of its technological leadership and mature market, North America—especially the United States—represents a large portion of the VARs software market. The supremacy of the region can be attributed to its strong IT infrastructure, high adoption rates of cutting-edge technology, and a large presence of top software providers. Specialized software and VAR services are in high demand since North American businesses are quick to adopt novel solutions in order to remain competitive. The region’s emphasis on digital transformation and large investments in cybersecurity, cloud computing, and data analytics are driving the market for VAR software. Additionally, the regulatory landscape in industries like banking and healthcare demands tailored software solutions in order to maintain compliance, which increases the demand for VAR services.
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Key Companies:
VelosioProServe SolutionsAktion AssociatesAlgorithmHero DigitalJourneyedMicroAgeSHI InternationalOne Six SolutionsAllCloudBertelsmannTata TechnologiesINSIGHTSirius Computer SolutionsA2K TechnologiesPurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-11Y1206/Global_Value_Added_Resellers_VARs_software_Market_Insights_Forecast_to_2028
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
–  Value-added Resellers for IT Market
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–  Mobile Value-Added Services (VAS) market was valued at US$ 619430 million in 2023 and is anticipated to reach US$ 1356670 million by 2030, witnessing a CAGR of 11.6% during the forecast period 2024-2030.
–  According to a new report published by , titled, “Computer Aided Engineering Market,” The computer aided engineering market size was valued at USD 8 billion in 2021, and is estimated to reach USD 19.2 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.
–  Infor SunSystems Resellers market is projected to reach US$ 1048.2 million in 2029, increasing from US$ 495 million in 2022, with the CAGR of 9.0% during the period of 2023 to 2029.
–  NetSuite Resellers market is projected to reach US$ 232.7 million in 2029, increasing from US$ 134 million in 2022, with a CAGR of 8.2% during the period of 2023 to 2029.
–  Cisco Data Center Reseller Market
–  Cisco Cloud Reseller Market
–  Cisco Unified Communications Reseller Market
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Senior Data Leaders from Travel and Hospitality Industry to Discuss Sector’s Unique Challenges at CDO Travel & Hospitality Exchange

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LONDON, June 27, 2024 /PRNewswire/ — Following its hugely successful launch in 2023, the CDO Travel & Hospitality Exchange returns for its second year on 11-12 September 2024 at Hilton Syon Park in London. Bringing together senior data leaders from across the world of travel and hospitality for two days of learning, discussion and networking, attendees will gain unique insights on harnessing data for operational excellence, building world-class data teams and enhancing customer experience through effective use of data.

The multitude of systems and suppliers integral to the functioning of the travel and hospitality industry creates a distinct set of challenges in terms of data organisation and governance, with many data leaders feeling as though they are not maximising their organisation’s data potential. Coupled with the introduction of new legislation and the pressure to keep up with continually evolving customer expectations, a data leader’s role within travel and hospitality organisations has become increasingly demanding.
The CDO Travel & Hospitality Exchange agenda has been designed to address the complexities of implementing effective data strategies, helping travel and hospitality businesses to thrive in today’s data-driven world. With 70 select data leaders from the travel and hospitality industry in attendance and a variety of unique activity formats including industry-specific roundtables, plenary presentations and one-to-one meetings with solution providers, the Exchange format provides a tailored, unique platform to explore fresh solutions to real-world challenges that data leaders in this sector face.
The world-class speaker faculty is comprised of thought leaders from some of the travel and hospitality industry’s most recognisable brands, including Hirra Sulanki, Group Head of Digital Analytics & Optimisation at TUI, Gillian Cossey, Global Data Protection Officer at Virgin Atlantic, and Nick Beresford, Head of Data & Analytics at Heathrow Airport. Attendees will come away with the expert knowledge and actionable insights needed to create data-driven change within their organisations.
Other agenda highlights include a presentation on ‘The Ongoing Battle Between Modernisation and Legacy Systems’ by Philip Cotton, Head of Customer, Trending & Trading Insight at On the Beach. The event’s closing panel discussion on ‘Navigating the Path to Data Maturity’, notably featuring Andrea Ferrari, Director of Planning & Forecasting at Silversea Cruises, also promises to be an enriching discussion that will enable attendees to visualise the optimal data architecture, team structure and strategies needed for their organisation to excel.
Attendance at the CDO Travel & Hospitality Exchange is by invitation only. To be part of the conversation, network with fellow travel and hospitality data leaders and discover valuable solutions for your organisation, request your invitation by clicking here. For more information on the agenda and speaker lineup, visit the event website here.
Join us in shaping the future of data-driven success in travel and hospitality.
Media contacts: Kazia Green, [email protected] 

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