A smart machine is a machine that can accomplish its designated task in the presence of uncertainty and variability in its environment. However, not all smart machines are physical devices such as industrial machines and autonomous vehicles. Indeed, the market also comprises intelligent agents, virtual reality assistants, expert systems and embedded software that make traditional devices ‘smart’ in a very specialized way. Increasing R&D spending, technological advances and consumer demand will drive tremendous growth in this market for the foreseeable future.
BCC Research provides an in-depth analysis of the global market for smart machines through its report, Smart Machines: Technologies and Global Markets. According to the report, this market was valued at $5.3 billion in 2013 and is expected to reach $6.2 billion by 2014. BCC Research projects the market to grow to $15.2 billion by 2019, and register a five-year compound annual growth rate of 19.7% from 2014 to 2019.
Use this report for, but not limited to, the following reasons:
- Gain an overview of the global market for smart machines
- Evaluate details which define these machines, including the ability to adapt to and learn from changing conditions in real time, the capacity to operate autonomously (without direct human supervision), and having the capability to communicate with other machines
- Analyze global market trends, with data from 2013, estimates for 2014 and 2019, and projections of CAGRs through 2024
- Assess potential markets for various types of smart machines such as virtual reality assistants, intelligent agents, expert systems, embedded software, autonomous robots, and purpose-built smart machines
- Review key enabling technologies for the next generation of smart machines, including voice recognition technology, micro- and nanosensors, radio frequency technologies, and neurocomputing
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