GITNUX MARKETDATA REPORT 2024

Ai In The Electronics Industry Statistics

AI in the electronics industry is expected to drive efficiency, innovation, and growth through predictive analytics and automation.

Highlights: Ai In The Electronics Industry Statistics

  • AI in the electronics industry is projected to surge from 5.54 billion USD in 2019 to 22.59 billion USD by 2025.
  • About 30% of companies in the electronics industry are planning to incorporate AI in their processes by 2022.
  • Over 60% of electronics firms say that they cannot train staff fast enough to get up to speed with advancements in AI.
  • The Asia Pacific region is estimated to account for the largest share of the AI in the electronics market at 39.0% in 2020.
  • Over 40% of electronics companies are already using AI for predictive analytics.
  • Approximately 47% of digitally mature companies, those that have advanced digital practices, said artificial intelligence, created a significant gap in skill set required for the electronics industry.
  • 52% of industry experts believe that Machine Learning and AI will have the most profound impact on the electronics industry over the next five years.
  • AI software in the electronics industry is projected to generate $10.73 billion by the end of 2025.
  • The global AI in the electronics market could possibly see a decline by 3.15% due to Covid-19 in 2020.
  • 46% of electronics executives see growth opportunities in AI technology over a three-year period.
  • About 74% of electronics enterprises are expected to use AI-powered analytics to make major business decisions.
  • The use of AI in electronics has resulted in a 25% reduction in production costs.
  • By 2021 the application of AI in predictive maintenance in the electronics industry is set to reach a value of $1.4 billion.
  • By 2023, AI powered devices are projected to make up 30% of the total worldwide electronics device market.
  • 58% of enterprises have already started their AI journey in the electronics industry.

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The Latest Ai In The Electronics Industry Statistics Explained

AI in the electronics industry is projected to surge from 5.54 billion USD in 2019 to 22.59 billion USD by 2025.

The statistic indicates that the use and implementation of artificial intelligence (AI) technology in the electronics industry are expected to experience a significant increase over the next few years. Specifically, the projected surge from 5.54 billion USD in 2019 to 22.59 billion USD by 2025 reflects a substantial growth rate in terms of financial investment and utilization of AI within the industry. This growth suggests that companies in the electronics sector are increasingly recognizing the value and benefits of AI technology, such as improved productivity, efficiency, and innovation, leading to a substantial increase in market size and opportunity for AI-related products and services within the industry.

About 30% of companies in the electronics industry are planning to incorporate AI in their processes by 2022.

The statistic indicates that approximately 30% of companies within the electronics industry are intending to integrate artificial intelligence (AI) into their operations by the year 2022. This suggests a growing trend within the industry towards adopting AI technology to enhance processes, increase efficiency, and gain a competitive edge. Companies may be recognizing the potential benefits of AI in various applications such as automation, data analysis, customer service, and product development. This statistic highlights the increasing significance of AI in the electronics sector and reflects a strategic shift towards leveraging advanced technologies to drive innovation and growth in the industry.

Over 60% of electronics firms say that they cannot train staff fast enough to get up to speed with advancements in AI.

The statistic “Over 60% of electronics firms say that they cannot train staff fast enough to get up to speed with advancements in AI” indicates a significant challenge within the electronics industry regarding the adoption and utilization of artificial intelligence (AI) technologies. The high percentage suggests that the majority of firms in this sector face difficulties in adequately preparing their employees to leverage AI advancements effectively. This issue could potentially hinder these firms’ ability to remain competitive and innovative in a rapidly evolving technological landscape. Addressing this training gap will be crucial for electronics firms to stay abreast of AI developments and maximize the benefits that AI technologies can offer to their operations and offerings.

The Asia Pacific region is estimated to account for the largest share of the AI in the electronics market at 39.0% in 2020.

This statistic indicates that the Asia Pacific region held the largest market share in artificial intelligence (AI) within the electronics sector in 2020, accounting for 39.0% of the total market. This suggests that a significant portion of AI technologies and applications in the electronics industry were concentrated in countries within the Asia Pacific region during that year. This could be attributed to factors such as technological advancements, increased adoption of AI in manufacturing processes, and a high demand for electronics products in countries like China, Japan, and South Korea, which are major players in the global electronics market. The dominance of the Asia Pacific region in this sector highlights its growing importance in driving innovation and development within the AI industry on a global scale.

Over 40% of electronics companies are already using AI for predictive analytics.

The statistic that over 40% of electronics companies are already using AI for predictive analytics indicates a significant adoption of artificial intelligence within the electronics industry. This suggests that a large proportion of companies in this sector are leveraging AI technologies to analyze data and make forecasts about future outcomes. By utilizing AI for predictive analytics, these companies are likely seeking to gain a competitive edge by making more informed business decisions, identifying trends, optimizing processes, and potentially reducing costs. This trend highlights the increasing importance of AI in driving innovation and efficiency within the electronics industry, positioning those that have adopted these technologies ahead of their competitors in terms of digital transformation and data-driven decision-making.

Approximately 47% of digitally mature companies, those that have advanced digital practices, said artificial intelligence, created a significant gap in skill set required for the electronics industry.

The statistic suggests that nearly half of digitally mature companies, which have sophisticated digital operations, believe that artificial intelligence has exposed a notable skill gap within the electronics industry. This finding implies that as these companies adopt more advanced digital technologies like AI, the skills needed to effectively utilize these tools may not be readily available within the industry. Such a gap in skill sets could potentially hinder the growth and innovation of companies operating within the electronics sector, highlighting the importance of investing in training and development programs to bridge this divide and ensure that employees are equipped with the necessary skills to thrive in the evolving digital landscape.

52% of industry experts believe that Machine Learning and AI will have the most profound impact on the electronics industry over the next five years.

The statistic reveals that the majority of industry experts, constituting 52%, anticipate that Machine Learning and Artificial Intelligence (AI) will exert the most influential effect on the electronics sector in the upcoming five years. This implies that a significant portion of professionals within the industry perceive these emerging technologies as pivotal drivers of change and innovation in the electronics sector. The statistic suggests a consensus among experts regarding the transformative potential of Machine Learning and AI, indicating a strong belief in their ability to revolutionize practices, processes, and outcomes within the electronics industry within the specified time frame.

AI software in the electronics industry is projected to generate $10.73 billion by the end of 2025.

This statistic indicates that the use of artificial intelligence (AI) software in the electronics industry is expected to lead to a significant increase in revenue, reaching $10.73 billion by the end of 2025. This suggests a growing trend towards the adoption of AI technology within the electronics sector, as companies leverage AI software to drive efficiency, innovation, and competitive advantage. The projected revenue figure reflects the anticipated economic impact of AI applications, such as predictive maintenance, quality control, supply chain optimization, and personalized customer experiences. This statistic highlights the transformative potential of AI in revolutionizing the electronics industry and underscores the lucrative opportunities for businesses to harness the power of AI technology in driving growth and success.

The global AI in the electronics market could possibly see a decline by 3.15% due to Covid-19 in 2020.

The statistic indicates that the global market for artificial intelligence (AI) in the electronics industry is projected to experience a 3.15% decrease in 2020 as a result of the impact of the Covid-19 pandemic. This decline is attributed to various factors such as disruptions in supply chains, decreased consumer demand, and operational challenges faced by businesses in response to the pandemic. The decrease in AI adoption within the electronics sector reflects the broader economic effects of the global health crisis, highlighting the vulnerability of technology markets to external shocks and disruptions.

46% of electronics executives see growth opportunities in AI technology over a three-year period.

The statistic indicates that 46% of executives in the electronics industry believe that there are growth opportunities in artificial intelligence (AI) technology over the next three years. This suggests that a sizeable portion of industry leaders are optimistic about the potential for AI to drive business expansion and innovation within the sector. The perception of growth opportunities in AI technology may stem from its potential to enhance product development, streamline operations, improve customer experiences, and create new revenue streams. As AI continues to advance and become more integrated into various aspects of the electronics industry, these executives may be anticipating significant benefits and competitive advantages that can be derived from leveraging this transformative technology.

About 74% of electronics enterprises are expected to use AI-powered analytics to make major business decisions.

This statistic indicates that a significant majority, around 74%, of electronics enterprises are projected to adopt AI-powered analytics as a key tool for informing major business decisions. Incorporating artificial intelligence into their analytical processes enables these companies to leverage advanced algorithms and machine learning techniques to derive insights from complex data sets, leading to more informed and data-driven decision-making. By embracing AI technologies, electronics enterprises can gain a competitive edge by enhancing their operational efficiency, identifying new business opportunities, and mitigating risks in a rapidly evolving market landscape.

The use of AI in electronics has resulted in a 25% reduction in production costs.

The statistic indicates that the integration of artificial intelligence (AI) technologies within the electronics manufacturing industry has led to a substantial 25% decrease in production costs. This reduction can be attributed to the advantages AI offers in automating processes, optimizing resource allocation, enhancing efficiency, and minimizing errors in production lines. By leveraging AI, manufacturers can streamline operations, boost productivity, and ultimately achieve cost savings through reduced labor expenses and improved overall production output. This statistic underscores the significant impact that AI is having on transforming traditional manufacturing practices and driving cost-efficiency within the electronics sector.

By 2021 the application of AI in predictive maintenance in the electronics industry is set to reach a value of $1.4 billion.

The statistic stating that by 2021 the application of artificial intelligence (AI) in predictive maintenance in the electronics industry is expected to reach a value of $1.4 billion indicates a significant investment and growth in the incorporation of AI technology for maintenance purposes within the industry. Predictive maintenance is a proactive maintenance strategy that uses data analysis and machine learning algorithms to predict when equipment failure might occur, allowing for timely maintenance to prevent disruptions and reduce downtime. The projected value of $1.4 billion signifies the economic importance placed on leveraging AI-driven predictive maintenance solutions in the electronics sector, highlighting the industry’s recognition of the benefits of optimizing maintenance practices through advanced analytics and automation.

By 2023, AI powered devices are projected to make up 30% of the total worldwide electronics device market.

The statistic suggests that artificial intelligence (AI) powered devices are expected to have a significant presence in the global electronics device market by the year 2023, comprising about 30% of all electronics sold worldwide. This projection highlights the rapid growth and adoption of AI technology across various industries and consumer markets. AI-powered devices leverage advanced algorithms and machine learning capabilities to provide enhanced functionalities and personalized experiences, driving their popularity among consumers and businesses. The increasing integration of AI into devices like smartphones, smart home appliances, wearables, and other electronic gadgets indicates a shift towards more intelligent and connected technologies shaping the future of the electronics industry.

58% of enterprises have already started their AI journey in the electronics industry.

The statistic that 58% of enterprises have already started their AI journey in the electronics industry suggests a significant adoption of artificial intelligence technologies within the sector. This indicates a strong trend towards integrating AI capabilities into business operations, potentially to improve efficiency, increase productivity, and drive innovation. The high percentage of enterprises embracing AI in the electronics industry also signals a recognition of the competitive advantages that such technologies can offer, including automation, predictive analytics, and enhanced decision-making processes. Overall, the statistic highlights the growing impact of AI on the electronics industry, as businesses aim to stay competitive and capitalize on the benefits of advanced technology solutions.

References

0. – https://www.www.mordorintelligence.com

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4. – https://www.www.reportsanddata.com

5. – https://www.www.statista.com

6. – https://www.www.prnewswire.com

7. – https://www.blog.softwareag.com

8. – https://www.www.globenewswire.com

9. – https://www.www.absolutereports.com

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11. – https://www.www.semiconductor-digest.com

12. – https://www.www.marketsandmarkets.com

13. – https://www.www.accenture.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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