Smart Machines Market is projected to witness high growth over the period 2017 to 2022. Smart machines are devices that are intelligent and use machine-to-machine technology to make decisions on their own. These are advanced technologies and self-learning systems and find their applications in almost every industry. Smart technologies include devices like robots, intelligent agents, expert systems, virtual reality systems, and cognitive computing systems or software which make machines ‘smart’ in a very specialized manner. This technology is gaining popularity owing to the easy and wide availability of cheap computing devices, strong and sophisticated networks, and the rise in the use of the Internet of Things. The innovative technology climate facilitates smart devices to gather data about the physical world without the direct intervention of humans, thus reducing the burden of humans so that they can focus on strategic roles. Growing demand for automation processes in various industry verticals to eradicate human errors and due to stringent regulations regarding workers’ safety in the hazardous working environment is one of the major drivers of the global smart machines market. Favorable government policies coupled with rising investments by various organizations to enhance operational efficiency and productivity will bolster the growth of the smart machines market. The booming automotive industry is also projected to fuel the smart machines market in this particular sector.
Geographically, Asia Pacific is projected to be the fastest-growing regional smart machine market owing to a high level of investments in communication technologies, increasing demand for wearables due to growing awareness about good health and fitness, and supportive regulatory incentives in the region.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
The next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities that exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry and regional regulations which are determining the product specifications and a brief technological aspect of smart machines. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Smart Machines market has been segmented on the basis of the component as hardware, software, and services. The market has also been segmented by technology as robotics, cloud computing, cognitive technology, internet of everything (IoE), and others. By type, segmentation has been done as autonomous car, wearable device, robots, drones, and others. Segmentation by application includes aerospace and defense, healthcare, logistics and transportation, consumer electronics, banking, automotive, and others. Geographically, segmentation has been done as Americas, Europe Middle East and Africa, and others.
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry participants profiled as part of this section are Microsoft, General Electric, Google, Digital Reasoning Systems, Rethink Robotics, Rockwell Automation, IBM, ABB, Apple, and Alchemy API, Inc.
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