Smart Machines Market in Europe 2016-2020

Overview of the smart machines market in Europe

Technavio’s market research analyst has estimated the smart machines market in Europe to grow impressively at a CAGR of over 15% by 2020. The growing popularity of the Industry 4.0 concept, which includes automation, IoT, cloud computing, and smart machines, in the automotive and electricals and electronics industries, will be the primary growth driver for this market. The incorporation of automation and robotics in a process or discrete industry minimizes the redundant operations performed by the skilled workforce. Enterprises across industries are looking to curtail the use of labor in repeated operations as it will bolster process efficiency and reduce the cost incurred while deploying human labor.

The development of advanced machine-to-machine (M2M) technologies will be the key driver for the growth of this market. With enhanced human-machine collaboration, the next level of communication in the industrial sector will be in M2M technologies. In the industrial sector, collaborative robots are being utilized as it helps to enhance productivity targets and safety of the working environment. Since many organizations have already witnessed the success arising from the implementation of collaborative robots into their processes, they are now planning to implement self-recognizing M2M technology into their production processes.

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

• Expert system
• Autonomous robots
• Digital assistant

In this market study, analysts have estimated the expert system segment to be the largest market segment during the predicted period. Expert systems are gaining popularity in Europe across both the manufacturing and services sectors. Its rate of adoption in the service sector is slightly higher than the manufacturing sector as it helps to provide site-specific, integrated advice to the end users. Comprehensive market research carried out by the analysts at Technavio has shown that the expert systems segment will account for an impressive market share of almost 56% by 2020.

End-user segmentation and analysis of the smart machines market in Europe

• Manufacturing
• Service

The manufacturing segment will be the largest market segment during the forecast period and will account for almost 52% of the total market share by 2020. Factors such as rising labor costs and the shift of production processes back to Europe from developing regions will necessitate the implementation of smart machines in the manufacturing sector.

Competitive landscape and key vendors

The smart machines market in Europe is characterized by the entry of numerous new players. Factors such as continuous support and initiatives from the German government and the EU to improve and digitize industries will facilitate the entry of new vendors in this market. Most of the start-ups in the smart machines market in Europe are focusing on autonomous robots as they are widely adopted by the healthcare and retail industry.

Key leading vendors in the market are -

• BAE Systems
• Creative Virtual
• Rethink Robotics

Other prominent vendors analyzed in this market research are Anki, Artificial Solutions, Astute Solutions, Knightscope, OpiFlex, QBotix, Robotics Inventions, 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 Europe?
• What are the key market trends impacting the growth of the smart machines market in Europe?
• What are the challenges to market growth?
• Who are the key vendors in the smart machines market in Europe?
• What are the market opportunities and threats faced by the vendors in the smart machines market in Europe?
• Trending factors influencing the market shares of Europe.
• What are the key outcomes of the five forces analysis of the smart machines market in Europe?

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

Related reports

• Global Human Machine Interface Market 2016-2020
• Smart Home M2M Market in APAC 2016-2020

A smart machine is a machine that is embedded with cognitive computing ability and utilizes artificial intelligence and machine learning algorithms to learn, reason, sense, and engage with people in different ways. Such machines can solve a problem accurately, and provide the desired output in an effective manner. Autonomous robots, expert systems, intelligent assistants, neurocomputers, and smart embedded systems are the different types of smart machines.

The smart machines market in Europe is part of Technavio’s Industrial Automation research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automation and robotics. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.