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Smart Machines Global Market will Exceed $331.92 Billion By 2028 with a Projected CAGR of 13.4% | Apple Inc., Alphabet Inc., Siemens AG, LG Electronics Inc., Intel Corporation
Smart Machines Market
As per the report, the smart machine market size has grown rapidly in recent years. It will grow from $175.81 billion in 2023 to $200.07 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The smart machine market size is expected to see rapid growth in the next few years. It will grow to $331.92 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%.
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Increasing Requirement For Enhanced Data Accessibility In Various Industries
The increasing requirement for enhanced data accessibility in various industries is expected to propel the growth of the smart machine market going forward. Data accessibility refers to an organization's employees' capacity to retrieve information from databases and make the most of it. Smart machines rely heavily on data accessibility for their accessibility to diverse and relevant data, which ensures better performance and adaptability. For instance, in June 2022, according to a survey of 559 respondents by BARC (Business Application Research Center), a German-based analyst firm that specializes in business software, those using big data saw an 8% increase in profit and a 10% reduction in cost. Further, around 69% cited better strategic decisions, and 54% said that big data improved their control of operational processes. Therefore, the increasing requirement for enhanced data accessibility in various industries will drive the growth of the smart machine market.
Technological Breakthroughs With Focus On Better Customer-Centric Experiences
Major companies operating in the smart machine market are developing innovative products with technological improvements such as smart diagnostic systems to increase their profitability in the market. Smart diagnostic systems refer to the application of cutting-edge technologies, including machine learning, artificial intelligence (AI), and the Internet of Things (IoT), to enhance the precision, velocity, and effectiveness of diagnostic procedures. For instance, in November 2021, Koninklijke Philips N.V., a Netherlands-based conglomerate corporation launched an AI-powered MR 5300 1.5T system which is approved by the FDA under 510(k) drives consistent quality and sustainability for outpatient clinics and MR departments by streamlining and automating difficult clinical and operational tasks with helium-free for life MR operations. It features AI-driven technologies that are intended to automate difficult clinical and operational tasks, improving diagnostic imaging and patient care. It is also outfitted with Philips' unique BlueSeal magnet. The system's ultra-fast exams, high-quality diagnostic imaging capabilities, and automated patient-centric workflow define it. Additionally, its helium-free design promotes sustainability and improves operational effectiveness.
The smart machines market covered in this report is segmented -
1) By Component: Hardware, Software, Services,
2) By Technology: Cloud Computing Technology, Big Data Technology, Internet of Everything, Robotics, Cognitive Technology, Affective Technology
3) By Machine: Robots, Autonomous Cars, Drones, Wearable Devices, Other Machines
4) By Verticals: Manufacturing, Transportation And Logistics, Healthcare, Consumer Goods And Retail, Aerospace And Defense, Other Verticals
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Major companies operating in the smart machines market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, Dell Technologies Inc., Robert Bosch GmbH, Sony Group Corporation, Siemens AG, General Electric Company, Panasonic Corporation, LG Electronics Inc., Intel Corporation , Qualcomm Technologies Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., 3M Company, Salesforce.com Inc., ABB Ltd., Hewlett Packard Enterprise, BAE Systems plc, BOE Technology Group Co. Ltd., Sharp Corporation, Koninklijke Philips NV, Pioneer Corporation, Corning Incorporated, Emerson Electric Co., Rockwell Automation Inc., KUKA AG, ST Engineering Aethon Inc.
Contents of the report:
1. Executive Summary
2. Smart Machines Market Report Structure
3. Smart Machines Market Trends And Strategies
4. Smart Machines Market - Macro Economic Scenario
5. Smart Machines Market Size And Growth
…..
27. Smart Machines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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