What is Smart Machines Market?
A smart machine is a device embedded with machine-to-machine (M2M) and/or cognitive computing technologies such as artificial intelligence (AI), machine learning, or deep learning. Influenced by an increase in investments in automating processes that were performed mainly by human labor, applications such as life sciences companies, retail, logistics, financial services firms, healthcare, defense, agriculture, and commerce are increasingly adopting these intelligent machine systems to replace human labor, driving the growth of this industry segment in the robotics smart machines market. advancements and increased investments in technology, increased use of IoT, cloud computing, and automation in the industrial sector, increase in government initiatives to invest in improving healthcare, and the availability of reimbursements from healthcare insurance providers will contribute to the growth of the smart machine market.
The market study is being classified by Type (Robots, Self-Driving Cars and Others), by Application (Life Sciences, Retails, Logistics, Financial Services Firms, Healthcare, Agriculture, Defense and Others) and major geographies with country level break-up.
KUKA (Germany), IBM (United States), Apple (United States), Google (United States), Clearpath Robotics (Canada), Mobile Industrial Robotics (Denmark), Aethon (United States), Cerner (United States), Microsoft (United States) and Philips Healthcare (Netherlands) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Samsung (South Korea), Narrative Science (United States), McKesson (United States) and Elsevier (Netherlands).
Global Smart Machines is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Smart Machines market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Smart Machines market by Type, Application and Region.
On the basis of geography, the market of Smart Machines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Smart Machines to Reduce Cost and Boost Flexibility
- Increase in Adoption for Smart Machines in Several Industrialized Sectors
Market Trend
- Technological Advancements
- Development of Neural Networks, Voice Recognition, and Natural Language Processing
Restraints
- Slow Adoption of Smart Technologies in Developing and Underdeveloped Countries
- High Cost of the Adoption of Smart Machines
Opportunities
- Government Initiatives to Promote Advanced Robotics in Emerging Countries
Challenges
- Challenges Associated with Smart Machines Technologies
Market Leaders and some development strategies
On 28th March 2022, Sarcos Technology and KUKA Robotics Corporation to Acquire RE2, an Award-Winning Developer of Intelligent Mobile Manipulation Systems. The acquisition will add breadth to Sarcos’ family of mobile dexterous robots for use in industrial environments and expands Sarcos’ total addressable market to medical and subsea markets. The combination is expected to significantly increase Sarcos’ revenue by adding revenue from RE2s existing contracts. The transaction brings together two of the most experienced commercial robotics teams, nearly doubling the size of Sarcos’ engineering team
In 2019, KUKA launches a new generation of the KR QUANTEC series. The new series provides high reliability and the “all-rounder” robot’s a uniquely broad spectrum of applications compared to competitors. With a payload capacity between 120 to 300 kg, the robots are designed for use in nearly every market segment – such as the automotive industry, the foundry sector, and the field of medicine, as well as for processing and handling tasks.
Key Target Audience
Smart Machines Manufacturers, Smart Machines Suppliers and Distributors, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others