India AI in manufacturing market is estimated to grow at a CAGR of around 36% during the forecast period. India is the fastest-growing economy for AI in manufacturing in the Asia-Pacific region. Adoption of various government policies to drive AI innovation such as digital India, and proliferation in various sectors such as IT, healthcare, and consumer goods give a boost to the growth of the market. The advent of new technologies such as AI and IoT is transforming the global manufacturing landscape, and India is also leveraging these technologies in order to cater to increasing demand from various industries.

Moreover, the well-established players are bringing smart factory solutions in India which further drives the regional growth of the market. For instance, in April 2019, Panasonic announced its plan to bring its smart factory solutions in India. The company has integrated its welding business and SMT (Surface Mount Technology) equipment business for becoming an end-to-end integrated Smart Manufacturing Solutions company. With these smart factory solutions, the company will deliver a broad range of high value-added, smart solutions and services to the manufacturing industry. The company aims at building India as its innovation hub for the globe and create a strong ecosystem of component and automated manufacturing in the country; that will create future opportunities for the market growth.

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 the 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 held the highest market share in 2018.

Global players such as Panasonic Corp., ABB Ltd., and others are expanding their reach in the Indian market to strengthen their geographical presence, which in turn, drives the growth of the AI in manufacturing market in India. For instance, in 2018, ABB India inaugurated one of the first smart factories in Bangalore for the production of electrical protection and connection solutions. The Bangalore facility will manufacture ABB’s range of air and molded case circuit breakers, electronic and thermal relays, contactors, pilot devices and ABB’s latest range of plug-and-play low-voltage circuit breaker, Emax 2. ABB has continued to invest in building capacity to cater to the evolving trends in the Indian market.

Research Methodology

The market study of the India AI in manufacturing market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for IT companies, software vendors, automotive industry, healthcare companies, research institutes, government organizations, and other market participants for the overall market and competitive analysis. The report provides an in-depth analysis on market size, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. India AI in Manufacturing Market Research and Analysis by Application

2. India AI in Manufacturing Market Research and Analysis by End-User 

The Report Covers

• Comprehensive research methodology of the India AI in Manufacturing market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India AI in Manufacturing market.
• Insights about market determinants which are stimulating the India AI in Manufacturing market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.