The market for smart machines in the Americas, including expert system, autonomous robots and digital assistant, is on the rise, according to a new report from Technavio Research.
Technavio’s market research analysts estimate that the market will grow at a compound annual growth rate (CAGR) of 15% between 2016 and 2020. Smart machines correct and prevent processing errors that occur due to the wear and tear of mechanical components. They can hold information about a series of processes and machine conditions because they’re equipped with sensors.
Technavio says the rising concept of “Industry 4.0” that include automation, the Internet of Things (IoT), cloud computing, and smart machines in the automotive and electricals and electronics industries is crucial for the growth of the smart machines market in the Americas.
“Cloud computing, cyber security, and mobile communications technologies are some of the major smart technologies gaining momentum in the American market,” said Bharath Kanniappan, lead analyst, industrial automation, at Technavio.
“The need to monitor and evaluate real-time data and the process of streamlining the manufacturing set-up has increased investments in smart machines with artificial intelligence [AI] technology,” Kanniappan said.
Expert systems are gaining popularity in the Americas in both the manufacturing and services sectors, the report said. That segment accounts for about 65% of the total market share. The use of expert systems is on the rise in the services sector, such as healthcare, retail and agriculture, compared with the manufacturing sector.
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