SOURCE: Hexa Research

Hexa Research

November 16, 2015 08:00 ET

Smart Machines Market Is Anticipated to Reach $15.3 Billion in 2020: Hexa Research

FELTON, CA--(Marketwired - Nov 16, 2015) - Smart Machines Market -- Machining tools and systems have undergone significant increase in recent period. Increasing technological advancement coupled with research and development actions has forced to growth of smart machines. Smart machines are systems or devices that use machine to machine (M2M) technology, which allow them to make choices or solve problems without human intervention. These systems hold the capability of performing cyclic tasks at high accuracy and high speeds. Smart machines run autonomously and help correct and prevent abundant processing errors occurred by varying conditions in the raw material or wear and tear of the mechanical components and drift of thermal working point. These devices can offer status updates to a high level control device through trade of data with another automation devices.

Additionally, outfitted with an extensive sensor network, smart machines are competent of holding information regarding their environment, machine situation and an array of processes, thereby enhancing the quality and the uptime. Smart machines study through application-specific algorithms and can enhance their performance over time.

Browse full research report with TOC on " Smart Machines Market Analysis, By Product (Autonomous Robots, Expert Systems, Intelligent Assistants, Neurocomputers, Smart Embedded Systems), By Application (Automotive, Consumer Electronics, Healthcare, Industrial, Logistics & Transportation, Military, Aerospace & Defense, Security), By Technology (Micro & Nano Sensors, Radio Frequency, Voice Recognition) And Segment Forecasts, 2012 To 2020 " at

Technological advancement is anticipated to be the key aspect driving the smart machines market over the forecast period. Additionally, favorable government policies are estimated to boost the market growth. Increasing investments by various organizations to improve operational productivity and efficiency is expected to fuel the market demand. Further, growing need to eradicate human errors and significance of automation by organizations is expected to drive the market demand over the forecast period. However, possible usage of machines instead of human labor is likely to create issues regarding unemployment, which is expected to hinder the market growth over the next five years.

On the basis of product the market is segmented into expert systems, smart embedded systems, neurocomputers, intelligent assistants, and autonomous robots. Expert systems include smart grid and medical decision support system among others and accounted for the major market share, followed by autonomous robots. Additionally, the advanced robots tender more adaptability and flexibility due to which this segment is projected to lead the market over the next five years.

Smart systems or machines have several applications, and this segment includes logistics and transportation, aerospace and defense, consumer electronics, automotive, healthcare, industrial, security, military and others. In addition to the above mentioned application sectors, they are also used across banking, financial services and retail industry. Increasing demand for continuous monitoring and patient care has put significant pressure on hospitals which is expected to have positive impact on the market demand in healthcare industry. Technological development and proliferation of auto assisted driving systems is estimated to boost the automotive segment. They are broadly used in consumer electronics sector and offer possible opportunities followed by automotive and transportation.

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