Smart Machines are enabled by Artificial Intelligence (AI) and the Internet of Things (IoT) to efficiently perform repetitive tasks autonomously. Stand-alone Smart Machines are interconnected via Machine-to-Machine (M2M) communications to enable Smart Systems that take advantage of advanced technologies such as neuro computing and provide a hive mind intelligence architecture.
The global Smart Machine market is anticipated to approach $22.6B by 2023. Smart System components, such as Micro and Nano Sensors and RF Equipment, will be largest areas by revenue.
By 2025, 40% of Smart System value will be due to inter-machine communications enabled by M2M data exchange and associated enhanced AI decision making within a neural network. Smart Machines will provide valuable IoT data for enterprise and industrial automation through improved decision making capabilities inherent in the system design and operations. Individual Smart Machines and overall Smart Systems will be greatly enhanced by low latency and localized processing made possible by broadband wireless (enhanced LTE and 5G) and Multi-access Edge Computing (MEC). In addition to localized data processing and decision making, AI will also support localized and intra-system security against malware and malicious intrusions.
In the near-term, the technologies benefiting the most from Smart Machines shall be Autonomous Vehicles, Drones, and Smart Robots. In terms of industry verticals, the greatest opportunity area will be the healthcare market. The APAC region will lead with highest overall Smart Machine market share. Virtually all enterprise and industrial segments will benefit greatly from Smart Machine driven enhancements in the areas of Smart Workplace, Smart Data Discovery, and Cognitive Automation.
Smart Machines in Enterprise and Industrial IoT: Market Outlook and Forecasts 2018 – 2023 evaluates the Smart Machine ecosystem including technology building blocks, leading company strategies, products and services. The report evaluates various Smart Machine solutions, products, and services including Autonomous Robots, Expert Systems, Intelligent Assistants, Neurocomputers, and Wearable Devices. This report also evaluates the Hardware, Embedded Software, and Related Services for Smart Machines. The report also assesses the market for Smart Machines in many industry verticals including Aerospace and Defense, Automotive, Banking, Consumer Electronics, Healthcare, Industrial Automation, Security, Transportation and Logistics.