Market Overview

A smart machine is an intelligent device embedded with machine-to-machine technology to perform various tasks autonomously, without human interventions. These machines use deep learning, machine learning, and artificial intelligence to reason, make decisions, problem-solve and take action. Smart machines include robots, drones, smart wearable, self-driving cars, and other cognitive computing systems. Robots are automated machines used in various industrial verticals to make the process automated. Robots are built with artificial intelligence and natural language processing. They can be trained to carry out processes and learn from their surroundings. Moreover, autonomous cars are full driverless cars integrated with different sensors such as geo sensors and advanced technologies such as IoT.

The global smart machines market accounted for US$ 108.1 Bn in terms of value in 2019.

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Market Dyamics

Smart machines are deployed to improve networked resources and incorporate distributed intelligence in manufacturing industries. Integration of devices provides more flexibility and accessibility. Smart machines can be connected to a broader network of connected devices, thereby facilitating the user to share data on several devices. Furthermore, this also facilitates user to connect and access their devices from anywhere and anytime. For instance, Google Inc. offers syncing and accessing of data across all devices supporting Android and iOS. Hence, the need for improved data accessibility is expected to boost the global smart machines market growth during the forecast period.

However, legal constraints faced by smart machines is expected to hamper the growth of the global smart machines market over the forecast period.

Detailed Segmentation:

Global Smart Machines Market, By Component:

Hardware

Software

Services

Global Smart Machines Market, By Machine Type:

Robots

Autonomous Cars

Drones

Wearable Devices

Others

Global Smart Machines Market, By Technology:

Cloud Computing Technology

Big Data Technology

Internet of Everything

Robotics

Cognitive Technology

Affective Technology

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Key players operating in the global smart machines market are Google Inc., Apple Inc., Rethink Robotics, BAE Systems, Narrative Science Inc., Creative Virtual Ltd., Microsoft Corporation, Digital Reasoning Systems, Inc., and IBM Corporsation.

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