Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Manufacturing Industry in India, 2024" report has been added to ResearchAndMarkets.com's offering.
The market size of artificial intelligence (AI) in manufacturing in India is projected to reach INR 12.59 billion by 2028, growing at a compound annual rate of 58.96% from 2023 to 2028.
Evolving customer preferences, new distribution models, geopolitical changes, supply chain disruptions, and ESG regulations are creating opportunities for the manufacturing sector to innovate and reshape existing business models.
In recent years, the manufacturing sector has undergone substantial evolution, emerging as one of the fastest-growing industries. The advent of the fourth industrial revolution, Industry 4.0, driven by cyber-physical systems, big data analytics, IIoT, cloud computing infrastructure, AI, and 3D printing, has revolutionized manufacturing.
AI adoption in manufacturing encompasses factory automation, quality monitoring, equipment failure prediction, order management, delivery management, and demand forecasting.
Market drivers:
Government initiatives in India, such as Make in India, Start-up India, and Industry 4.0, have encouraged technology-driven start-ups, software firms, and manufacturing companies to integrate AI into their daily operations, enhancing accuracy, flexibility, productivity, and efficiency. The Indian startup ecosystem is undergoing a transformation with growing investments in intelligent automation, artificial intelligence, machine learning, and Big Data.
Market challenges:
Converting conventional factories into AI-driven manufacturing units necessitates substantial capital investment, covering expenses for procuring and installing connected sensors, intelligent cameras, data analytics software, and other components. Despite the emergence of Indian start-ups in the AI market, investor reluctance, both domestically and internationally, persists due to apprehensions about failure and a limited understanding of AI systems.
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
3.2. Manufacturing industry in India
3.3. Major stockholders
Chapter 4: Market Overview
4.1. Manufacturing market - An overview
4.2. Artificial intelligence in manufacturing industry in India market size and growth forecast based on value (2020 - 2028e)
4.3. Major global players providing AI-based manufacturing products/solutions
Chapter 5: Application of AI in Manufacturing
5.1. Major applications
5.2. Sector-wise applications
Chapter 6: Use Cases of AI in the Manufacturing Industry
6.1. Use cases of AI in the manufacturing industry
Chapter 7: SWOT Analysis
7.1. SWOT analysis
Chapter 8: Porter's Five Forces Analysis
8.1. Porter's five forces analysis
Chapter 9: Case Studies
9.1. Case study - Blue Star Limited
9.2. Case study - TVS Motor Company Limited
9.3. Case study - JK Tyre & Industries Limited
9.4. Case study - Bajaj Auto Limited
9.5. Case study - Asian Paints Limited
Chapter 10: Impact of COVID-19
10.1. Impact of COVID-19
Chapter 11: Government Initiatives
11.1. Government initiatives
Chapter 12: Market Influencers
12.1. Market drivers
12.2. Market challenges
Chapter 13: Competitive Landscape
13.1. Tata Consultancy Services Limited
13.2. Wipro Limited
13.3. Abee Research Labs Private Limited
13.4 EroNkan Technologies Private Limited
13.5. Flutura Business Solutions Private Limited
13.6. LivNSense Technologies Private Limited
13.7. Altizon Systems Private Limited
13.8. IBM India Private Limited
13.9. Microsoft Corporation India Private Limited
13.10. Universal Robots (India) Private Limited
Chapter 14: Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/s69jjv
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