Smart Machines Market in the Americas 2016-2020

Outlook of the smart machines market in the Americas

According to Technavio’s market research analysts, the smart machines market in the Americas will grow at an impressive CAGR of nearly 15% by 2020. Smart machines are devices that have cognitive computing ability. These machines utilize artificial intelligence (AI) and machine learning algorithms to sense, learn, reason, and interact with humans. The market for smart machines in the Americas will grow rapidly during the forecast period, and the prospects for its growth will be impelled by factors like recent technological advances and rapid R&D. The ability of these machines to correct and prevent processing errors created due to wear and tear of mechanical components, and drift of thermal working point will result in its augmented adoption during the forecast period. Furthermore, with the growing number of SMEs in most of the major manufacturing segments, the demand for collaborative robots that offer flexible solutions will increase rapidly.

The increasing popularity of machine learning will be the key driver for this market. Currently, the scope of machine learning has been gaining traction in the technical fields, which lies between statistics and computer science, and at the core of AI and data science. Data-intensive machine learning methodologies are being used in the manufacturing and services sectors as they allow autonomous robots to work effectively in a production plant. This increase in the popularity of machine learning will help to foster the prospects for growth in this market until the end of the forecast period.

End-user segmentation of the smart machines market in the Americas

• Manufacturing
• Service

In this market research, analysts have estimated the manufacturing sector to account for an impressive market share of more than 57% by 2020. The manufacturing sector in the US is the largest sector worldwide that incorporates technologies like expert systems and robots into their production processes. The ability of these machines to enhance productivity, so that manufacturers can meet the demand for products, will result in its increased adoption during the forecast period.

Segmentation by type and analysis of the smart machines market in the Americas

• Digital assistants
• Autonomous robots
• Expert systems

The expert systems segment dominated this market during 2015 and is anticipated to retain its market position until 2020 owing to the rising popularity of these systems across the manufacturing and services sectors. The extensive utilization of these systems in sectors like healthcare, retail, and agriculture will result in its market segment’s impressive growth during the forecast period. A comprehensive market study carried out by the analysts at Technavio has shown that this market segment will account for a market share of almost 56% by 2020.

Competitive landscape and key vendors

The smart machines market in the Americas is heavily concentrated among top vendors of autonomous robots, expert systems, and digital systems. It has been observed that many new start-ups and small vendors in this market have started to expand their product portfolios and are now competing with major vendors as it will help them to gain maximum market shares.

Top vendors in the market are -

• Aethon
• BAE Systems
• Rethink Robotics

Other prominent vendors are Anki, Artificial Solutions, Knightscope, Neuralware, Prioria Robotics, QBotix, Rockwell Collins, and Ward Systems Group.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the smart machines market in the Americas?
• What are the key market trends impacting the growth of the smart machines market in the Americas?
• What are the challenges to market growth?
• Who are the key vendors in the smart machines market in the Americas?
• What are the market opportunities and threats faced by the vendors in the smart machines market in the Americas?
• Trending factors influencing the market shares of the Americas.
• What are the key outcomes of the five forces analysis of the smart machines market in the Americas?

Technavio also offers customization on reports based on specific client requirement.

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