Press release
Smart Machines Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Smart Machines Market Forecast
The growth of the smart machine market is predicted to be fueled by the rising demand for improved data accessibility across multiple sectors. This primarily pertains to the ability of personnel in an organization to recover information from databases and maximize its use. The more diverse and relevant the data accessible to smart machines, the better their performance and adaptability. For instance, a survey conducted in June 2022 by the German-based analyst firm, BARC (Business Application Research Center) - specializing in business software, found that out of 559 respondents, those utilizing big data experienced a profit increment of 8% and a cost reduction of 10%. Furthermore, 69% reported improved strategic decision-making, and 54% confirmed that big data enhanced their operational process control. As a consequence, the rise in demand for advanced data accessibility in numerous sectors would contribute to the expansion of the smart machine market.
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What growth opportunities are expected to drive the smart machines market's CAGR through 2034?
The market for smart machines has experienced sharp expansion in the past few years. The market size is forecasted to escalate from $200.07 billion in 2024 to $227.58 billion in 2025, boasting a compound annual growth rate (CAGR) of 13.8%. This spike during the historic period is due to the surge in digitization and cloud technologies, amplified demand for automation to improve effectiveness and quality, escalating requirement for automation solutions along with technological progress, increasing necessity to automate and eliminate human errors, and a rise in the adoption of smart machine solutions.
In the coming years, we can anticipate a swift expansion of the smart machines market which is projected to reach a value of $376.69 billion in 2029, enjoying a compound annual growth rate (CAGR) of 13.4%. This anticipated growth during the forecast period is largely attributed to the growth of industrial internet of things (IIoT), the emergence of 5G and edge computing, the uptake of pioneering technologies across a spectrum of industry verticals, increasing government support for the production and use of machines, as well as a surge in the demand for cloud-based manufacturing solutions. Key trends to watch during the forecast period include progress in artificial intelligence, growing consciousness about sustainable manufacturing methods, an uptick in edge computing technologies within manufacturing, the rising adoption of digital twins and simulation tools for predictive maintenance and optimization, and the digitalization of manufacturing processes for Web3 and blockchain technology.
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What are the emerging trends shaping the future of the smart machines market?
Top firms in the smart machine market are constantly innovating to improve security, customization, and user-device interaction through technologies such as face recognition. This biometric system uses algorithms capable of verifying or recognizing a person based on their unique facial features. For instance, South Korea's Hyundai Motor Company and Kia Corporation rolled out the DAL-e Delivery Robot in December 2022. Their creation sports a well-thought-out design to boost its delivery skills, capable of carrying up to 16 cups of coffee or objects up to 10 kg, while expertly navigating tricky environments on its own due to its face recognition capability. Four Plug & Drive (PnD) modules power the DAL-e Delivery Robot, allowing the robot to reach speeds up to 1.2 m/s (roughly 2.7 mph). Additionally, it also possesses advanced autonomous driving technology, enabling it to detect hurdles and navigate crowded places with ease.
Which growth-oriented segments of the smart machines market are leading the industry's development?
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
Subsegments:
1) By Hardware: Sensors, Actuators, Processors, Communication Devices, Connectivity Modules
2) By Software: Operating Systems, Application Software, Data Analytics Software, Artificial Intelligence (AI) Software, Security Software
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Training Services, Managed Services
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North America was the largest region in the smart machines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the smart machines market?
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.
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What Is Covered In The Smart Machines Global Market Report?
•Market Size Forecast: Examine the smart machines market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart machines market for a structured understanding.
•Key Players Overview: Analyze major players in the smart machines market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart machines market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart machines market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart machines market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart machines market.
•Competitive Landscape: Review strategic developments in the smart machines market, including expansions, agreements, and new product launches.
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