Global Quality AI Growth Opportunities, 2024 2028
Global Quality AI Growth Opportunities, 2024 2028
AI in Quality Guarantees Productivity, Efficiency, Top-line Growth, and Cost Benefits for Businesses
17-Jul-2024
Global
Market Research
Description
This study examines the increasing use of artificial intelligence (AI) in quality management. The rapid advancement of AI has led to its use across sectors, particularly quality management, as is evident in the growth of predictive quality analytics and enterprise quality management systems (EQMS). With increasing competitive intensity, it has become essential to proactively avoid quality issues instead of relying on reactive approaches. AI-driven predictive quality management tools can preempt quality issues early in the production process, ensuring waste reduction and enhancing overall product quality. Digital technologies such as machine learning (ML), natural language processing (NLP), and advanced analytics in EQMS solutions drive user adoption and result in informed business decisions, innovation, and heightened productivity. While the unclear return on investment (RoI) and a lack of awareness about these technologies present challenges, vendors are now responding by highlighting the increasing number of practical use cases. However, the full potential of AI in quality management cannot be unlocked without access to clean, reliable data. Therefore, formulating a strong data strategy before embarking on AI projects will be imperative to success.
This study analyzes the factors driving and restraining the use of AI in quality management. It also highlights key user cases and profiles the companies impacting this space. The base year is 2023, and the forecast period is from 2024 to 2028.
Author: Sankara Narayanan Venkataramani
Research Scope
AI in Quality - An Introduction
Digital transformation is driven by advancements in technology, including artificial intelligence (AI). AI automates complex tasks, analyzes vast amounts of data, and makes predictions not possible for humans. It helps manufacturers improve efficiency and productivity, reduce downtime, and enhance the quality of their products. As AI continues to advance, its integration is revolutionizing many manufacturing operations and traditional business processes. Quality control and quality management are key areas where AI is having a revolutionary effect.
While AI-driven predictive maintenance systems can anticipate equipment failures, AI-driven predictive quality management solutions can predict defects and quality issues early in the production process, thereby reducing waste and improving overall product quality.
Predictive quality analytics identifies and avoids quality issues before they arise. It analyzes data from numerous sources, such as machine records, sensors, IoT, the Industrial Internet of Things (IIoT), and historical production data from different software, and then applies AI and ML to offer relevant insights and to take preventative action. Manufacturers are producing more data than ever, and predictive algorithms can grow more precise and efficient over time with AI and ML as they process more data. Therefore, predictive quality analytics uses cutting-edge AI technology, data, and analytics to find patterns, trends, and anomalies in data (which could indicate quality problems) within manufacturing processes and enables process engineers and operators to preempt quality issues. Predictive quality is currently starting to be recognized as a core need and has a lot of ROI attached to it.
Digital technologies such as AI, ML, natural language processing (NLP), and advanced analytics are also applied in enterprise quality management system (EQMS) solutions, such as deviation/non-conformance management, corrective and preventive action (CAPA), preventative control, and complaint management, to name a few, to move from reactive quality to proactive quality.
Another way to use AI is for quality control in machine vision, video inspection, sensors, and monitoring systems to detect defects in products.
Research Highlights
Serviceable Addressable Market: Advanced analytics for manufacturing and logistics, $23 billion, CAGR 20%
Total Addressable Market: IT software and services for manufacturing and logistics $650 billion, 13% growth rate in 2024
AI enhances operational efficiency and risk management and provides the right insights crucial for business strategies. It is poised to expand in the global market at a rapid pace.
Frost & Sullivan expects that AI will become increasingly vital as manufacturing processes continue to become more complex and data-driven and as the need to produce high-quality products increases.
Table of Contents
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Quality AI Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
AI in Quality—An Introduction
AI in Quality—An Introduction (continued)
AI in Quality—An Introduction (continued)
Growth Drivers
Growth Drivers (continued)
Growth Restraints
AI in Quality—The Transition
AI Revolution in Quality Management
The Business Case for Predictive Quality
The Business Case for AI in Predictive Quality
The Business Case for AI in Predictive Quality (continued)
The Business Case for AI in Predictive Quality (continued)
AI in Predictive Quality (case study)
AI-enabled Systems and Machine Vision for Quality Control
Case Studies
AI Use Cases and Manufacturing Value Chain
AI Use Cases and Manufacturing Value Chain (continued)
AI Use Cases and Manufacturing Value Chain (continued)
AI in Quality Control in Heavy Industries
Market Opportunity
Autonomous AI Decisions
Autonomous AI Decisions (continued)
Roadmap to Operationalize AI
Data Strategy in AI
Generative AI and Predictive AI
Generative AI and Predictive AI (continued)
Sustainability and ESG
AI in EQMS
The Business Case for AI in EQMS
The Challenges for AI in EQMS
The Benefits of AI in EQMS
AI in EQMS—Application Areas
AI in EQMS—Application Areas (continued)
AI in EQMS—Application Areas (continued)
AI in Quality and Safety
AI in Quality and Safety (continued)
Companies
Companies (continued)
Companies (continued)
AI in EQMS—ComplianceQuest
AI in EQMS—IQVIA
AI in EQMS—ETQ
AI in EQMS—Honeywell (Sparta Systems)
Growth Opportunity 1: Predictive Quality Mangement in EV Component Manufacturing
Growth Opportunity 1: Predictive Quality Mangement in EV Component Manufacturing (continued)
Growth Opportunity 2: Stricter Quality Control for the Aviation and Transportation Sectors
Growth Opportunity 2: Stricter Quality Control for the Aviation and Transportation Sectors (continued)
List of Exhibits
Legal Disclaimer
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Deliverable Type | Market Research |
---|---|
Author | Sankara Narayanan Venkataramani |
Industries | Industrial Automation |
No Index | No |
Is Prebook | No |
Keyword 1 | Quality Ai Market |
Keyword 2 | Ai Market Opportunities |
Keyword 3 | Ai Innovations |
Podcast | No |
WIP Number | MH42-01-00-00-00 |