Technavios global artificial intelligence market in the industrial sector research report forecasts the market to grow at a CAGR of around 54% during the forecast period.
The increasing adoption of cloud-based solutions will be one of the major trends in the global artificial intelligence market in the industrial sector during 2018-2022. There has been an increase in the applications of robots for repetitive and risky tasks. Therefore, end-users are focusing on seeking areas to ensure the elimination of limitations of industrial automation and robotics technologies. Thus, there is an increase in the adoption of cloud computing to improve the capabilities of existing systems.
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According to Technavio analysts, one of the key drivers for the global artificial intelligence market in the industrial sector is the increase in the adoption of data-guided decision making:
Global industrial inclination sensors market: Increase in the adoption of data-guided decision making
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There has been an increase in the automation of day-to-day processes over the years. To incorporate customer preferences, market demand and supply trends, and customer feedback in the production planning processes, manufacturers have been increasingly capitalizing on data analytics. To improve their product offerings and modifications of their product portfolio, data-guided decision making is being adopted by vendors.
According to a senior analyst at Technavio for research on robotics, Companies have been increasingly using data from multiple sources to organize their operational procedures, manage personnel and staff, and create more value. This will promote the adoption of data-guided decision making during the forecast period.
Global industrial inclination sensors market: Segmentation analysis
The global artificial intelligence market in the industrial sector report provides market segmentation by application (remote monitoring and predictive maintenance, supply chain management, R&D and production planning, quality control, and execution of operation and maintenance contracts, and regulatory intelligence), by end-user (process industries and discrete industries), and by region (the Americas, APAC, and EMEA). This artificial intelligence market in the industrial sector report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the process industries segment held the largest artificial intelligence market in the industrial sector share in 2017, contributing to almost 64% of the market. This end-user segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 46% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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Five Forces Analysis
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