UK AI in manufacturing market is estimated to grow at a CAGR of 32.3% during the forecast period. UK is the 3rd largest economy after Germany and France in Europe. According to the government of UK (gov.uk), over 50 leading companies and organizations have contributed to the development of the AI sector worth around $1.3 billion, including almost $390 million of private sector investment. Furthermore, Chrysalix, a Canadian venture capital, announced in 2018 to open a European headquarters in UK and planned to invest more than $100 million in local start-ups specializing in AI and robotics.
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Increasing industrial automation is raising the demand for industrial robots however the density of robots is below the global average (74 robots per 10,000 employees). As per the International Federation of Robotics, UK robot density was 71 per 10,000 employees in 2016, which signifies there is a lot of scope for industrial robots in the country. However, in the last couple of years, the country is adding industrial robots at a lower rate. In 2018, the total new robot installation decreased by 3% to 2,306. Although, in 2017 the country had shown a growth of 31% year on year basis.
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 held the highest share in 2018 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. The automobile segment dominated the market in 2018.
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UK AI in Manufacturing 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)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
