Artificial Intelligence (AI) in manufacturing is defined as a simulation of human intelligence used to communicate with the machines, extract the data from the field, analyze the extracted data, and perform the required task. From material movement to machinery inspection and self-diagnostics, which are usually operated by human labor or robot with the help of human intelligence, the AI-based system would perform in lesser time, cost, and human intervention.
Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.
Artificial Intelligence in Manufacturing Quadrant
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- Breadth and Depth of Product Offerings
- Feature and Functionality
- Support and Services