LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global smart machines market is expected to grow at a CAGR of over 17% during the forecast period.
This research report titled ‘Global Smart Machines Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global smart machines market is expected to gain traction at a consistent rate, owing to an increase in the adoption of automation to complete tasks that were handled by human personnel. Vendors in the market are increasingly incorporating software and hardware solutions with advanced artificial intelligence (AI), cognitive computing, and machine learning capabilities.
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Technavio’s analysts categorize the global smart machines market into four major segments by product. They are:
- Expert systems
- Autonomous robots
- Digital assistants
- Others
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The top three segments based on product for the global smart machines market are discussed below:
Global smart machines market by expert systems
An expert system accumulates knowledge of multiple human experts in a particular domain. It mainly comprises a knowledge base, an interference engine, and a user interface. While a knowledge base saves all the information, the interference engine provides the data from the knowledge base as the need arises.
According to Raghav Bharadwaj Shivaswamy, a lead robotics research analyst from Technavio, “The global smart machines market by expert systems has been gaining traction owing to the increase in investments on automating processes that were performed mainly by human labor. The forecast period will see a growth in the market coming from sectors such as healthcare, defense retail, agriculture, finance, and commerce.”
Global smart machines market by autonomous robots
Autonomous robots are robots that have the ability to perform complex tasks without continuous human guidance. Apart from capabilities to learn from the environment and adapt to it, autonomous robots can also maintain themselves and perceive when they need charging, with the use of proprioceptive and exteroceptive sensors.
“Japan and China have been seeing an increase in the adoption of autonomous robots over the years, owing to the rise in aging populations in the countries. This, in turn, has created a demand for robots to substitute human personnel in sectors such as industries as well services such as healthcare, hospitality, and tourism,” says Raghav.
Global smart machines market by digital assistants
A digital assistant is also known as a virtual assistant. It is an application that understands natural language and helps users to complete tasks. Applications such as Google Now, Apple’s Siri, and Cortana are some prominent digital assistants available in the market. Advancements in AI, machine learning, and voice recognition are propelling the growth of this segment to a significant extent.
The global smart machines market by digital assistants has grown due to an increase in the adoption of smart devices such as smartphones and tablets, owing to the promotion of bring your own device (BYOD) programs as well as an increase in the Internet penetration in developing countries.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Aethon
- Cerner
- Clearpath Robotics
- IBM
- KUKA
- Mobile Industrial Robotics
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