Global AI in Manufacturing Market Size Expected to Rise Owing to Increasing Demand for Collaborative Robots

The global AI in manufacturing market size is expected to rise owing to the increasing demand for collaborative robots and the growing semiconductor industry. According to Fortune Business Insights, its latest report, titled “Artificial Intelligence (AI) in Manufacturing Market Size, Share & COVID-19 Impact Analysis, By Offering (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Context Awareness), By Application (Process Control, Production Planning, Predictive Maintenance & Machinery Inspection, Logistics and Inventory Management, Quality Management, and Others), By Industry (Automotive, Medical Devices, Semiconductor &Electronics, Energy & Power, Heavy Metal & Machine Manufacturing, and Others), and Regional Forecast, 2020-2027.”, observes that the market will hit USD 9.89 Billion by 2027 while exhibiting a promising 24.2% CAGR between 2020 and 2027. This market is expected to witness substantial growth owing to the COVID-19 impact and hence the 2020-2027 CAGR is high/very high, as a large section of the industry would look to adopt AI in order to automate the operation with less human intervention.