PUBLISHER: The Business Research Company | PRODUCT CODE: 1695041
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695041
Smart machines are cognitive computing systems capable of decision-making and problem-solving without human intervention. They leverage machine-to-machine and cognitive computing technologies, including machine learning and deep learning, to perform tasks autonomously.
Smart machines consist of hardware, software, and services. Hardware comprises tangible components or delivery systems that execute instructions from software. Technologies such as cloud computing, big data, the internet of things, robotics, cognitive computing, and affective computing enable smart machines such as robots, autonomous vehicles, drones, and wearables. These technologies find application in various sectors such as manufacturing, transportation, healthcare, consumer goods, retail, aerospace, defense, and others.
The smart machines market research report is one of a series of new reports from The Business Research Company that provides smart machines market statistics, including smart machines industry global market size, regional shares, competitors with smart machines market share, detailed smart machines market segments, market trends, and opportunities, and any further data you may need to thrive in the smart machines industry. This smart machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart machines market size has grown rapidly in recent years. It will grow from $200.07 billion in 2024 to $227.58 billion in 2025 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to rise in digitization and cloud technologies, increasing demand for automation to achieve efficiency and quality, growing demand of automation solutions coupled with technological advancement, rising need of automation and eliminating human errors, increasing adoption of smart machine solutions.
The smart machines market size is expected to see rapid growth in the next few years. It will grow to $376.69 billion in 2029 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to increase in industrial internet of things (IIoT), rise of 5G and edge computing, adoption of innovative technology in numerous industry verticals, escalating favorable government initiatives for manufacturing and use of machines, growing demand for cloud-based manufacturing solutions. Major trends in the forecast period include advancements in artificial intelligence, awareness towards sustainable manufacturing practices, rising edge computing technologies in manufacturing, adoption of digital twins and simulation tools for predictive maintenance and optimization, digitalization in manufacturing for Web3 and blockchain technology.
The smart machine market is poised for growth, driven by the rising demand for improved data accessibility across industries. Data accessibility enables employees to retrieve information from databases efficiently, enhancing organizational performance. Smart machines heavily rely on accessible, diverse, and relevant data for optimal performance and adaptability. For example, a BARC survey in June 2022 found that organizations using big data experienced an 8% increase in profits and a 10% reduction in costs. Additionally, 69% reported better strategic decision-making, while 54% noted improved operational process control. As industries increasingly seek enhanced data accessibility, the smart machine market is expected to expand significantly.
Major companies in the smart machine market are innovating with technologies like face identification to improve security, personalization, and user interaction with devices. Face identification technology is a biometric system that employs facial recognition algorithms to verify or identify individuals based on their unique facial features. For example, in December 2022, Hyundai Motor Company and Kia Corporation, both South Korean automotive manufacturers, launched the DAL-e Delivery Robot. This robot boasts a sophisticated design that enhances its delivery capabilities, enabling it to transport up to 16 cups of coffee or items weighing up to 10 kg while autonomously navigating complex environments. It features face identification technology and is powered by four Plug & Drive (PnD) modules, allowing it to reach speeds of up to 1.2 m/s (approximately 2.7 mph) with advanced autonomous driving capabilities to detect obstacles and maneuver in crowded areas.
In May 2022, American Green Inc., a US-based technology firm in the medical cannabis sector, acquired VendWeb for an undisclosed amount. This acquisition enables American Green to take complete control of its smart vending division, particularly the American Green Xpress (AGX) machines, which utilize advanced facial recognition and finger vein reader technology for age verification. VendWeb is a US-based provider of smart machines, including vending machines.
Major companies operating in the smart machines market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, Dell Technologies Inc., Robert Bosch GmbH, Sony Group Corporation, Siemens AG, General Electric Company, Panasonic Corporation, LG Electronics Inc., Intel Corporation, Qualcomm Technologies Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., 3M Company, Salesforce.com Inc., ABB Ltd., Hewlett Packard Enterprise, BAE Systems plc, BOE Technology Group Co. Ltd., Sharp Corporation, Koninklijke Philips NV, Pioneer Corporation, Corning Incorporated, Emerson Electric Co., Rockwell Automation Inc., KUKA AG, ST Engineering Aethon Inc.
North America was the largest region in the smart machines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart machines market consists of revenues earned by entities by services such as maintenance, updates, and support through subscription models, cloud-based services for data storage, processing, or communication, consulting and implementation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart machines market also includes sales of physical smart machines, such as robots, drones, and autonomous vehicles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Machines Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart machines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart machines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart machines market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.