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Smart Machines Market in Europe Growth of 15.18% by 2020 - Key Vendors are BAE Systems, Creative Virtual & Rethink Robotics - Research and Markets

[May 23, 2016]

Smart Machines Market in Europe Growth of 15.18% by 2020 - Key Vendors are BAE Systems, Creative Virtual & Rethink Robotics - Research and Markets

Research and Markets has announced the addition of the "Smart Machines Market in Europe 2016-2020" report to their offering.

The report forecasts the Smart Machines Market in Europe to grow at a CAGR of 15.18% during the period 2016-2020.

The market is divided into the following segments based on type:

Expert system
Autonomous robot
Digital assistant

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 MM 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.

Key vendors: