The Global Smart Machines Market is estimated to grow at significant growth rate during the forecast period 2019-2025. As per the detailed analysis, the global market is witnessing high growth owing to increasing focus of market players and organizations on automation, favourable regulatory approvals and increasing demand from various application areas.
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Machining systems and related tools have witnessed high growth in the past few year due to technological advancements. Also, smart machines are the new edge of Industry 4.0. Smart machines integrate machine to machine (M2M) technology that enables problem solving and decision making without human intervention. It can perform repetitive tasks with high accuracy, increased precision and high speeds. Smart factories are based upon cumulative adoption of smart machines, and high growth of smart factories are providing a positive platform for smart machines.
Automatic operation of smart machines corrects and prevents various processing errors that are caused by wear and tear of the mechanical components, changing conditions in the raw material and drift of thermal working point. Moreover, these machines are equipped with sensors that can hold information related to an array of processes, their environment and machine condition.
The global smart machines market is witnessing high growth due to improvement in productivity and operational efficiency after adoption of smart machines, increase in number of investments by various organizations and favourable government initiatives. Moreover, technological proliferation act as a major key factor in boosting the demand of smart machines and that in turn boost the global smart machines market over the forecast period.
Segmentation Overview of the Global Smart Machines Market
The Global Smart Machines Market is segmented on the basis of Product, Application and Technology. These market segments are further categorized into various sub-segments to study the market in detail.
The Product Segment of the Global Smart Machines Market is Sub-Segmented into:
- Autonomous Robots
- Expert System
- Intelligent Assistants
- Smart Embedded Systems
The Application Segment of the Global Smart Machines Market is Sub-Segmented into:
- Military, Aerospace and Defence
- Consumer Electronics
- Logistics and Transportation
The Technology Segment of the Global Smart Machines Market is Sub-Segmented into:
- Micro & Nano Sensors
- Radio Frequency
- Voice Recognition
Geographical Overview of the Global Smart Machines Market
On the basis of geographical segmentation, the global smart machines market was studied across North America (U.S., Canada); Europe (Germany, UK, France); Asia Pacific (China, India, Japan); Latin America (Brazil, Mexico); Middle East & Africa. As per the analysis, the Asia Pacific market accounted to have largest market share in the global market. The regional growth is majorly boosted by contribution from China through heavy investments in communication technologies. Also, favourable regulatory policies have supported the demand for M2M solutions in the region. Moreover, growth in demand of smart machines from the energy and transportation sector has driven the regional market growth over the forecast period.
Key Players Insights
Apple Inc., Google, General Electric Co., IBM, Narrative Science, Digital Reasoning Systems, AlchemyAPI, Inc., Rockwell Automation, Inc., BAE Systems, Creative Virtual Ltd., Rethink Robotics, ABB Limited and LG Electronics among others are some major players included in the research study of the global smart machines market.
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