Published Date : May 30, 2016
ALBANY, NY, May 30, 2016 - MarketResearchReports.biz has announced the addition of a recent report, titled ‘Smart Machines Market In Europe 2016-2020,’ to its online repository. According to the report, the Europe smart machines market is expected to expand at a 15.18% CAGR during the period from 2016 to 2020. Factors such as the reduction of redundancy in operations, increased safety, and the development of M2M technologies are predicted to propel the Europe smart machines market in the years to come.
Smart machines are intelligent devices that utilize machines-to-machine (M2M) technology. Smart machines comprise robots, cognitive computing systems, self-driving cars, and many others that are capable of solving problems and making decisions without human intervention. Due to their efficient manufacturing processes, many businesses have started adopting different smart machines.
The Europe smart machines market is segmented on the basis of end-user and type. By type, the Europe smart machines market is divided into smart machines, digital assistants, autonomous robots, and expert systems. Smart machines and robotics are the next-gen equipment of automation technologies that are widely adopted by various factories to improve productivity as well as minimize process-related operational costs. The increasing safety associated with using different types of smart machines has propelled this market in Europe. However, resistance to smart machines owing to the apprehension of job losses is expected to hamper the growth of the Europe smart machines market in the years to come.
Based on end-user, the Europe smart machines market is classified into industry and service sector. The increasing need for process improvements and the rising need to minimize the cost of the majority of process-related parameters are expected to drive the adoption of smart machines in the service industry and the industrial sector. A high level of adoption of smart machines is observed in the industrial sector owing to the benefits offered by smart machines in organizing entire manufacturing and production process. The industrial sector is primarily governed by machines that operate as per the set parameters and continue providing their assistance to automate solutions.
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Customer-centric service industries are planning to develop a one-stop solution environment by using existing workforce. Smart machines including digital assistants and expert systems are used to address the growing consumer complaints and inquiries. The successful deployment of digital assistants and expert systems in service industries is predicted to help acquire 25% to 30% new customers in the retail and banking sectors in the years to come.
BAE Systems, Creative Virtual, Rethink Robotics, Anki, Artificial Solutions, Astute Solutions, Knightscope, OpiFlex, QBotix, Robotics Inventions, Rockwell Collins, and Ward Systems Group are some of the leading companies operating in the Europe smart machines market. The entry of new companies is expected to make the Europe smart machines market highly competitive in the near future. With many new companies planning to introduce new smart machines, the Europe market is expected to create many new growth opportunities in the years to come.
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