The growing need for process improvements and the need to reduce cost on major process related parameters drive the adoption of smart machines in both the industrial and service industries. Major level of adoption is witnessed in the industrial set-up mainly due to the advantages of smart machines in streamlining the complete production or manufacturing processes. The industrial sector is governed by machines that are operated according to set parameters and continue in the process with the aid of automation solutions. Robotics and smart machines are the next generation of automation technologies that are adopted in factories to enhance productivity and cut process-related operational expenses.
Service industries, which are highly customer centric, are on the verge of developing a one-stop solution environment with the existing workforce. Smart machines, such as expert systems and digital assistants, are deployed to address the growing consumer enquiries and complaints. Successful implementation of smart machines in service industries is expected to garner 25%-30% new customers in the banking and retail sectors.
The analysts forecast the Smart Machines Market in Europe to grow at a CAGR of 15.18% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Smart Machines Market in Europe for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of smart machines such as expert systems, autonomous robots, and digital assistants in Europe.
The market is divided into the following segments based on type:
- Expert system
- Autonomous robot
- Digital assistant
The report, Smart Machines Market in Europe 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
- BAE Systems
- Creative Virtual
- Rethink Robotics
Other prominent vendors
- Artificial Solutions
- Astute Solutions
- Robotics Inventions
- Rockwell Collins
- Ward Systems Group
- Reduction of redundancy in operations and increased safety
- Resistance to smart machines due to apprehension of job losses
- Development of M2M technologies
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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- Market overview
- Top-vendor offerings
- Other prominent vendors
- Research methodology
- Economic indicators
- Key market highlights
- How the market grew?
- How the market will grow?
- Market overview
- Market size and forecast
- Five forces analysis
- Key stakeholder responsibilities
- Smart machines market in Europe by types
- Expert systems market in Europe
- Autonomous robots market in Europe
- Digital assistants market in Europe
- Key market analysis
- Smart machines in Europe by end-users
- Smart machines in industrial sector in Europe
- Smart machines in service sector in Europe
- Key end-user analysis
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
- Competitive landscape
PART 16: Appendix
- List of abbreviations
List of Exhibits
Exhibit 01: Market segmentation by types
Exhibit 02: Market segmentation by end-users
Exhibit 03: Product offerings
Exhibit 04: Other prominent vendors
Exhibit 05: History and future of smart machines
Exhibit 06: Components of an expert system
Exhibit 07: Smart machines market in Europe 2015-2020 ($ billions)
Exhibit 08: Five forces analysis
Exhibit 09: Smart machines: Value chain analysis
Exhibit 10: Smart machines in Europe by types 2015
Exhibit 11: Smart machines in Europe by types 2020
Exhibit 12: Smart machines market in Europe by types 2015 and 2020 ($ millions)
Exhibit 13: Expert systems market in Europe 2015-2020 ($ billions)
Exhibit 14: Autonomous robots market in Europe 2015-2020 ($ millions)
Exhibit 15: Digital assistants market in Europe 2015-2020 ($ millions)
Exhibit 16: Smart machines in Europe by end-users 2015
Exhibit 17: Smart machines in Europe by end-users 2020
Exhibit 18: Smart machines in Europe by end-users 2015 and 2020 ($ billions)
Exhibit 19: Smart machines market in industrial sector in Europe 2015-2020 ($ billions)
Exhibit 20: Smart machines market in service sector in Europe 2015-2020 ($ billions)
Exhibit 21: Impact of drivers
Exhibit 22: Impact of drivers and challenges
The author of the report recognizes the following companies as the key players in the Smart Machines Market in Europe: BAE Systems, Creative Virtual, and Rethink Robotics.
Other Prominent Vendors in the market are: Anki, Artificial Solutions, Astute Solutions, Knightscope, OpiFlex, QBotix, Robotics Inventions, Rockwell Collins, and Ward Systems Group.
Commenting on the report, an analyst from the research team said: “A trend that is expected to have a big impact on this market is the development of M2M technologies. Collaborative robots are emerging in the industrial sector with more number of applications opting for this technology to enhance productivity targets and safety of the working environment. With enhanced human-machine collaboration, the next level of communication in the industrial sector is expected in machine to machine (M2M) technologies. Robotic technology providers are developing and testing M2M technology in the industrial sector for large-scale implementation.”
According to the report, a key growth driver is the reduction of redundancy in operations and increased safety. The implementation of automation and robotics in a process or discrete industry minimizes the repeated operations performed by the skilled workforce. Organizations across industries are looking to curtail the use of labor in repeated operations. This increases the process efficiency, and reduces the cost incurred when deploying a human labor.
Further, the report states that one challenge that could hamper market growth is the lack of finance for smart machine companies.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.