Smart manufacturing uses a number of technologies, including digitalization, internet of things (IoT), big data, and robotics. To increase information visibility and system control in manufacturing systems, manufacturers are deploying advanced sensors and control systems with artificial intelligence (AI) algorithms.
The global market for smart manufacturing is forecast to reach $370 billion in 2022, growing at a compound annual growth rate of 10.7%, according to TrendForce. What makes this market so large are the use cases. Smart manufacturing encompasses a variety of applications that include smart factories, smart supply chains, automated delivery vehicles, and robotic arms.
The global number of AI edge devices is forecast to jump from 161.4 million units in 2018 to 2.6 billion units by 2025, according to Tractica LLC. The top AI-enabled edge devices include mobile phones, smart speakers, PCs/tablets, head-mounted displays, automotive, drones, robots, and security cameras.