[December 28, 2020]

New Smart Machines Market Research 2020-2024 | COVID-19 Industry Planning Structure | Technavio

The new smart machines market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Smart Machines Market 2020-2024 (Graphic: Business Wire)

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"One of the primary growth drivers for this market is the changes in the global labor force," says a senior analyst for Industrials at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the smart machines market size to grow by USD 10.79 billion during the period 2020-2024.

Smart Machines Market Segment Highlights for 2020

• The smart machines market is expected to post a year-over-year growth rate of -3.31%.
• Based on the product, the expert systems saw maximum growth in 2019. The technological advances in hardware are one of the primary growth factors for the smart machines market.
• The growth of the segment will be significant during the forecast period.

Regional Analysis

• 36% of the growth will originate from the North America region.
• The emergence of the concept of Industry 4.0. is one of the prime factors that will facilitate the smart machines market growth in North America.
The US is a key market for smart machines in North America.

Related Reports on Industrials Include:

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Notes:

• The smart machines market size is expected to accelerate at a CAGR of almost 12% during the forecast period.
• The smart machines market is segmented by the product (Expert systems, Autonomous robots, Digital assistants, and Others) and geography (North America, Europe, APAC, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Aethon Inc., Allscripts Healthcare Solutions Inc., Cerner Corp., Clearpath Robotics Inc., Digital Reasoning Systems Inc., International Business Machines Corp., Koninklijke Philips (News - Alert) NV, KUKA AG, Mobile Industrial Robots AS, and Narrative Science

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201228005286/en/

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