The global swarm intelligence market generated $10.5 million in 2017 and is estimated to grow at a CAGR of 37.49% during 2018-2028

The global swarm intelligence market generated $10.5 million in 2017 and is estimated to grow at a CAGR of 37.49% during 2018-2028

PR Newswire

LONDON, Nov. 7, 2018 /PRNewswire/ -- The Global Swarm Intelligence Market is Anticipated to Reach $348.2 million by 2028, Reports BIS Research

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The global swarm intelligence market is expected to witness significant growth during the forecast period 2018-2028 due to the rising demand from drone and robot applications across various industries including commercial, and military, among others. The increasing number of drones for defense and need for higher efficiency are some of the key drivers for the growth of the global swarm intelligence market.

The rising demand of swarms in autonomous vehicles and swarm intelligence for parcel delivery through drones are some of the future opportunities.The global swarm intelligence market has been classified into three platforms: robot swarm, drone swarm, and human swarm.

Drone swarm market is expected to have the highest growth rate during the forecast period 2018-2028 due to the extensive demand from commercial and military end-users. Furthermore, the global swarm intelligence market has been classified into three different algorithm models including Ant Colony Optimization (ACO), Particle Swarm Optimization (PSO), and Others (Artificial Fish Swarm Algorithm and Bee based Algorithms).

According to BIS Research analysis, the global swarm intelligence market generated $10.5 million in 2017 and is estimated to grow at a CAGR of 37.49% during 2018-2028. North America dominated the global swarm intelligence market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2028.

Following points provide a detailed description of the report content and the topics covered in the report:
• This report identifies the global swarm intelligence market under different segments such as platform, algorithm model, and region.

• It examines the prime supply-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global swarm intelligence market.

• The report also highlights the value chain of the industry.

• Detailed competitive analysis has been included in this report which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking map has been included in the existing study which analyzes the competitive strength of the players in the global swarm intelligence market.

• The market for different platforms such as robot swarm, drone swarm, and human swarm, has been estimated and analyzed.

• The market for different algorithm models such as Ant Colony Optimization (ACO), Particle Swarm Optimization (PSO), and Others (Artificial Fish Swarm Algorithm and Bee based Algorithms) has been estimated and analyzed.

• The global swarm intelligence market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and the Rest-of-the-World.

• A detailed Porter's Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the global swarm intelligence market.

• The study provides detailed analysis of the 12 key players in the global swarm intelligence market including ConvergentAI, DoBots, Enswarm, Hydromea SA, Power-Blox AG, Sentien Robotics, LLC, Swarm Technology, LLC, Unanimous A.I., Inc., Lockheed Martin Corporation, Raytheon Inc., Northrop Grumman, and Valutico in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

Executive Summary
The commercial and non-commercial industries are growing at a rapid pace with the development of automated technologies.The deployment of drones, robots, and automated software solutions, help to carry out operations at higher efficiency and accuracy as compared to the humans.

Robots and drones replace human efforts by automating the routine tasks.Drones are used for some of the applications such as capturing data through aerial photography, parcel delivery, emergency relief operations, and surveillance.

Similarly, robots can also perform numerous tasks including surveillance, transport, and farming, among others.Therefore, to allow a group of drones or robots to carry out a task requires a communication link among each other.

This enables the robots or drones to attain the higher efficiency at a low cost. Therefore, the emergence of swarm intelligence helps the group of robots, drones, and humans to perform a task collectively.

Swarm intelligence is a growing technology which is inspired from the behavior of social elements such as bees, ants, and wasps, among others.Swarm intelligence represents the artificial network of agents that communicate with each other with the help of simple rules based on different algorithms.

Swarming is a field of artificial intelligence which is based on de-centralized and self-organized systems.It focuses on the collective behavior through the local interactions among the individuals with in a group.

The swam intelligence could also be used to get the common outcome which has the involvement of humans through their collective decisions.This can be achieved through the software tool that allows the humans to work together collectively to reach to a common solution.

Thus, swarm intelligence plays a vital role in achieving the coordination among all the agents of a group. In addition, the growing number of drones and robots across the globe is one of the most important factors contributing to the growth of the global swarm intelligence market. For instance, according to the International Federation of Robotics (IFR), the global sales of industrial robots have been increased by 29% and recorded 380,550 units in the year 2017. In addition, as per Federal Aviation Administration (FAA), the total number drones sold in the U.S. is expected to cross 7 million by the year 2020.

Commercial, defense, and government sectors are the end-users of the swarm intelligence applications.There are many research and development organizations such as National Aeronautics and Space Administration (NASA), and Defense Advanced Research Projects Agency (DARPA), among others, that are continuously putting their efforts in developing swarm intelligence solutions.

Furthermore, swarm intelligence could foresee potential applications on the platforms that requires the involvement of humans to reach an outcome based on the collective behavior. Some of the leading players in the global swarm intelligence market includes ConvergentAI, DoBots, Enswarm, Hydromea SA, Power-Blox AG, Sentien Robotics, LLC, Swarm Technology, LLC, Unanimous A.I., Inc., Lockheed Martin Corporation, Raytheon Inc., Northrop Grumman, and Valutico.

The preceding figure illustrates the increasing revenue generation of the global swarm intelligence market over the years. The market reported a revenue of $10.5 million, in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2028. The global swarm intelligence market has been segmented into three platforms: robot swarm, drone swarm, and human swarm. The robot swarm market acquired the largest share; however, drone swarm market is expected to grow at the highest CAGR during the forecast period, 2018-2028. In addition, the global swarm intelligence market is also classified into its algorithm model such as Ant Colony Optimization (ACO), Particle Swarm Optimization (PSO), and Others (Artificial Fish Swarm Algorithm and Bee based Algorithms). Ant Colony Optimization (ACO) reported the highest revenue in 2017; however, Particle Swarm Optimization (PSO) is estimated to grow at the highest CAGR during the forecast period, 2018-2028.

North America acquired the largest share of the global swarm intelligence market followed by Asia-Pacific, Europe, and the Rest of-the-World (RoW). The U.S. and Canada are some of the prominent countries in North America for the development of the swarm intelligence market. The U.S. dominates the overall market of the swarm intelligence in the year 2017. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, 2018-2028. In Europe, Germany is one of the prominent countries which is currently focusing on the deployment of swarm intelligence. Some of the other prominent countries include the U.K. and France.

The Asia-Pacific region majorly consists of China, Japan, and Australia in the swarm intelligence market.China, currently, is having the largest share of the swarm intelligence market while Japan is expected to grow at the highest rate in Asia-Pacific region.

Moreover, there are ample opportunities for new entrants in this region as the demand for swarm intelligence is increasing for commercial as well as military applications.

Countries Covered
North America
• The U.S.
Canada
Europe
Germany
France
• The U.K
Asia-Pacific
China
Japan
Australia
• Rest-of-the-World

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