By 2032, the Generative AI in Manufacturing Market is expected to reach a value of more than USD 6,398.8 Million, with a CAGR of 41.06% from 2023 to 2032, according to MarketResearch.Biz. The market for generative AI in manufacturing was worth USD 223.4 million in 2022.
Artificial intelligence that can generate new and distinctive results from given data. In the manufacturing sector, generative AI can be used to improve product designs, expedite production, and cut costs. In the industrial sector, artificial intelligence is used to save costs, boost production, enhance quality control, and enable predictive maintenance.
Businesses can use this to produce unique and new product designs to attract customers. By reducing waste, improving quality control, and optimising the production process, businesses can cut expenses.
The desire for innovations and automation in AI & Machine Learning technologies, as well as the requirement for manufacturing cost reductions and productivity gains, are projected to fuel the growth of the generative AI in manufacturing market over the coming years.
A variety of factors, including the development of AI and machine learning technologies, rising need for automation, and the development of IoT and Big Data, have contributed to the expansion of this industry. the demand for customization and personalisation, cost reductions, greater competitiveness, and legal and compliance concerns.
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