LONDON--(BUSINESS WIRE)--Technavio’s latest report on the smart machines market in Europe provides an analysis of the key trends expected to impact the market through 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The smart machines market in Europe is expected to exceed USD 3 billion by 2020, growing at a CAGR of over 15%.
According to Bharath Kanniappan, lead analyst at Technavio for automation research, “European countries are focusing on increasing onshore production, which will escalate the demand for automation solutions and smart machines. Most countries in Europe such as Poland offer tax facilities for revenues generated by innovative products. This is encouraging companies to accommodate smart machines in their production plants to avail the benefits of tax exemption and increase their revenue.”
The top three emerging trends influencing the smart machines market in Europe according to Technavio’s industrial automation research analysts are:
- Development of M2M technologies
- Data analytics and process excellence
- Change of automation solutions
Development of M2M technologies
With enhanced human-machine collaboration, the next level of communication in the industrial sector is expected to be in machine to machine (M2M) technologies. Robotic technology providers are developing and testing M2M technology in the industrial sector for large-scale implementation.
With M2M communication succeeding in many industries like consumer electronics, healthcare, utilities, and surveillance, huge potential is expected in the process and discrete industries. Organizations that have benefitted from the implementation of collaborative robots in their processes, are expected to implement self-recognizing M2M technology.
Data analytics and process excellence
At present, organizations worldwide are moving to the data driven management approach. Companies are recording data at different set points in a process flow to abide by the methodology. These data points provide information on the complete manufacturing or production process in all industries.
Apart from data collected from automation solutions, companies in the manufacturing and service sectors are interested in developing actionable solutions to different business problems.
Smart machines are the source of information and also the processing tool for data interpretation. Various data at different stages of a process is communicated to a central processing unit through smart machines. This data is stored both in the form of structured and unstructured formats. The processing of data will lead to filtered information, which is used for data analysis. “The analyzed data is then used to make both shop floor and management level decisions, leading to process excellence,” says Bharath.
Change of automation solutions
Many automation vendors have started to evolve their solutions based on the customized need of end-users owing to the flexibility requirements in the industrial sector. End-users requirements have increased from hard-wired automation to implementation of mobile robotics for industrial applications.
With the involvement of mobile robotic solutions in the industrial sector, multiple applications are covered with the help of a single robot. As these machines are not fixed solutions, the possibility of movement and re-programming gives the flexibility of multiple functions with a single robotic solution. Also, advances in technology will encourage SMEs to adopt robotic solutions as these are cheaper and more flexible than hard automation.
The convergence of technologies in the robotics industry is predicted to lead the smart machines and artificial intelligence (AI) systems market. This is evident in the defense, and fire and safety industries for which autonomous, firefighting robots are being developed in the US and Europe with the support of their respective governments.
Some of the top vendors for the smart machines market in Europe as researched by Technavio analysts are:
- BAE Systems
- Creative Virtual
- Rethink Robotics
Browse Related Reports:
- Smart Home M2M Market in APAC 2016-2020
- M2M Platform Market in Western Europe 2016-2020
- Global Connected Home Security System Market 2016-2020
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact email@example.com with your requirements and a link to our subscription platform.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.