Press release
Smart Machines Market to Grow at 18.8% CAGR by 2024
Smart Machines Market
On the basis of a component, the global smart machines market has been segmented into hardware, software, and service. Demand for smart machines is enhanced by increasing need to process and analyze big unstructured data among different sectors such as manufacturing, healthcare, aerospace, and defense. On the basis of machine type, the global smart machines market has been segmented into robots, autonomous cars, drones, wearable electronics and others.
On the basis of technology, the global smart machines market has been segmented into cloud computing, big data, internet of everything (IoE), robotics, cognitive technology and effective technology. Affective technology segment is expected to expand with a substantial CAGR over the forecast period. Various enterprises working on cognitive computing are facing glitches and errors in technology. This, in turn, is encouraging adoption of affective computing. Cognitive computing technology enables emotions linking to a robot, assisting the robot in making rational decisions and performing more complex tasks.
Smart machines are deployed to enhance networked resources and implement distributed intelligence in manufacturing industries. Integration of devices provides more accessibility. Smart machines can be easily connected to a broader network of connected devices, enabling users to share data on numerous devices. This ensures users to connect/access their devices from anywhere and anytime. This is expected to fuel demand for smart machines in various industries. The market in Australia is expected to witness substantial growth in adoption rates of smart machines over the next five years. Autonomous robots are expected to find applications in agriculture and commercial sectors to overcome the lack of labor in the country. Australia-based companies have also been investing significantly in advanced technologies such as IoT.
Smart machines are programmed to make intelligent decisions in a time efficient manner. They are built to learn from their interactions and their precision increases over time. Hence, new developments in operational intelligence are encouraging companies to adopt systems that are smarter and efficient. Narrative Science Inc., a company that offers analytical solutions uses its virtual assistant Quill, which is programed using natural language processing to provide relevant solutions.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/8872
This report covers trends driving each segment and offers analysis and insights of the potential of the smart machines market in specific regions. The markets in Europe, North America, and Asia Pacific are expected to register high growth rates between 2016 and 2024. MEA is a small but significant market for smart machines as governments in the Middle East countries are investing in this sector to digitize government services. The market in Europe is expected to gain substantial market share in terms of revenue. This is attributed to increasing demand for smart machines from the automobile and manufacturing industries in countries such as Germany and France. The APAC accounted for the highest market share in 2015 and is expected to gain 232 BPS by an end of 2024.
Request to view table of content @ http://www.persistencemarketresearch.com/market-research/smart-machines-market/toc
Key players in the global smart machines market include Apple Inc., Google Inc., Microsoft Corporation, BAE Systems, Creative Virtual Ltd., Digital Reasoning Systems, Inc., IBM Corporation, Narrative Science Inc., Rethink Robotics, ABB Limited, Rockwell Automation, Inc., and General Electric Co. others.
About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Machines Market to Grow at 18.8% CAGR by 2024 here
News-ID: 517504 • Views: …
More Releases from Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market
The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to…
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market
The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in…
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market
The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According…
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market
The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
