This region-based market study presents a detailed analysis of the key growth drivers and challenges that influence the smart machines market in Europe. It also segments the market by type (expert system, autonomous robots, and digital assistant) and by end users (manufacturing and service). The key vendors analyzed in this market research report are BAE Systems, Creative Virtual, and Rethink Robotics.
Technavio’s market research analysts estimate the smart machines market in Europe, to grow at a CAGR of 15% between 2016 and 2020. The growth of smart machine market in Europe is marked by the rising concept of Industry 4.0 that includes automation, IoT, cloud computing, and smart machines in the automotive and electricals and electronics industries. These smart machines collect data that offers improved safety and operational efficiency and manages predictive maintenance.
The new market research report from Technavio provides a breakdown and analysis of the smart machines segments by technology.
“Of late, the market is witnessing the development of advanced machine-to-machine (M2M) technologies. With enhanced human-machine collaboration, the next level of communication in the industrial sector will be in M2M technologies. In the industrial sector, collaborative robots are being utilized as it helps to enhance productivity targets and safety of the working environment. Since many organizations have already witnessed the success arising from the implementation of collaborative robots into their processes, they are now planning to implement self-recognizing M2M technology into their production processes,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research
The expert system segment is expected to be the largest market segment during the predicted period. Expert systems are gaining popularity in Europe across both the manufacturing and services sectors. Its rate of adoption in the service sector is slightly higher than the manufacturing sector as it helps to provide site-specific, integrated advice to the end users. Comprehensive market research carried out by the analysts at Technavio has shown that the expert systems segment will account for an impressive market share of almost 56% by 2020.
The leading vendors in the smart machines market in Europe include BAE Systems, Creative Virtual, and Rethink Robotics. This market is characterized by the entry of numerous new players. Factors such as continuous support and initiatives from the German government and the EU to improve and digitize industries will facilitate the entry of new vendors in this market. Most of the start-ups in the smart machines market in Europe are focusing on autonomous robots as they are widely adopted by the healthcare and retail industry.
A more detailed analysis is available in the Technavio report, Smart Machines Market in Europe 2016-2020.
We can customize reports by other regions and specific segments upon request.
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