The global Smart Machines Market is expected to grow at a CAGR of 23.00% between 2022 and 2030, reaching a market size of around USD 420 Billion by the end of the year 2030. The increasing demand for automation and the rapid advancements in AI technologies, such as machine learning and natural language processing, are driving the growth of the smart machines market. Industries are embracing the concept of connected systems and intelligent machines to achieve higher levels of productivity, flexibility, and responsiveness. However, one of the key restraints for the smart machines market is the high cost of implementation.
