The North American AI in manufactuirng market is estimated to grow significantly at a CAGR of 33.4% during the forecast period. North American market for AI in manufacturing include the analysis of two major countries including the US and Canada. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology. The US and Canada are the major economies of North America. The region has well-developed ICT infrastructure and has witnessed huge adoption of a large number of connected devices.
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Canada is emerging as one of the key players in AI technology with the presence of some inventors of AI technology; and Waterloo is one of the major AI development hubs in Canada. There are more than 90 companies in Waterloo’s AI cluster and the number is rapidly growing. Waterloo focuses on working with industry and with academic partners for developing and deploying AI in the clinical space, or for climate analysis, manufacturing, automotive, aerospace, or other sectors.
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The market is segmented on the basis of application and end-user. Based on application, the market is segmented into quality control & reclamation, predictive maintenance, supply network optimization, and others including production planning. Predictive maintenance had the highest share of over 35% in the market owing to increasing demand for accuracy and reliability during the manufacturing process. Based on end-user, the market is segmented into automobile, pharmaceutical, heavy metal & machine manufacturing and others. Automobile segment held the highest market share in 2018.
There are various prominent players that are significantly contributing to the AI in manufacturing market which includes SAS Institute Inc., NVIDIA Corp., Google, LLC, IBM Corp., Microsoft Corp., and others. These players adopt various strategies for gaining their position in a highly competitive market. For instance, in March 2018, Adobe and NVIDIA Corp. declared a strategic collaboration to rapidly accelerate their deep learning and AI technologies. This partnership will advance the strategy of Adobe to widen the availability of Sensei APIs and to expand the Sensei ecosystem to a new audience of data scientists, partners, and developers.
Market Segmentation
By Application
- Quality Control & Reclamation
- Predictive Maintenance
- Supply Network Optimization
- Others (Production Planning)
By End-User
- Automobile
- Pharmaceutical
- Heavy Metal & Machine Manufacturing
- Others (Semiconductor and Electronics)
Regional Analysis
- United States
- Canada
Company Profiles
- Automation Anywhere, Inc.
- C3 IoT, Inc.
- Google LLC
- IBM Corp
- Intel Corp.
- Microsoft Corp.
- NVIDIA Corp.
- Oqton, Inc.
- Oracle Corp.
- Rockwell Automation, Inc.
- SAS Institute Inc.
- Sight Machine, Inc.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
