The surge in the demand and strategies for better handling substantial data-related challenges and the growing use of smarm intelligence-powered drones etc., in the defence and military sector is fueling the growth of the swarm intelligence market.
Newark, May 08, 2023 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global Swarm Intelligence market is expected to grow from USD 21.72 Million in 2022 to USD 447.53 Million by 2032, at a CAGR of 35.33% during the forecast period 2023-2032.
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Swarm Intelligence technology is like many people working on a platform and trying to accomplish a common objective on a big scale; it enhances human group decisions and helps predict occurrences. Many organizations all across the world are already exploring this technology. For instance, Enswarm, a startup company in the UK, uses swarm technologies for recruiting and employment decisions. Similarly, Swarm.fund uses this technology with cryptocurrencies such as Bitcoin to develop a new fundraising model. This AI-powered technology is also getting used in diagnosing medical conditions. The medical community is planning to use smarms of nanobots for the precision delivery of drugs, targeting toxins, microsurgery and biological sensors. Also, there are many benefits of swarm intelligence for financial intelligence. It helps in predicting the performance of the market. By using the collective intelligence of the group, an algorithm is used for analyzing financial data and forecasting future market behaviour.
To enhance their market position in the global Swarm Intelligence market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In December 2021: Vanora Robots, an India-based robotics start-up, developed a home automation product using swarm intelligence technology. The organization has designed a switch called Hunch which learns the behaviour of many users and can differentiate between them. For instance, when the person switches off the fans and lights in the school for three days, Hunch understands the routine, and when the following day person switches off the third switch, it asks whether the remaining light needs to be switched off or not. There is a broad range of applications for such novel technology.
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Market Growth & Trends
Swarm intelligence is broadly used in drones and robotics, with agents like sonar, radar and cameras that collect data and information. The surge in the demand and strategies for better handling substantial data-related challenges and the growing use of smarm intelligence-powered drones etc., in the defence and military sector is fueling the growth of the swarm intelligence market. Swarm intelligence helps build a realistic and practical approach for performing the needed goal of locating and striking the target. For instance, based on one of the studies, the total sales of industrial robots globally increased by 29% and reached 380,550 units in 2017. Similarly, in the US, drones were anticipated to reach more than 7 million by 2020. In the telecommunication sector, each call goes through several intermediate nodes, which leads to congestion. The use of digital ants can be sent to uncongested networks, which helps the telecom centre agents to divert traffic and avoid delays. Many space agencies are exploring this technology; for instance, the European Space Agency for self-assembly and interferometry is working on the orbital swarm. Likewise, NASA is working on using swarm technology for planetary exploration.
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• In 2022, the optimization segment dominated the market with the largest market share of 41.34% and market revenue of USD 8.98 Million.
The capability segment is divided into optimization, clustering, scheduling and routing. In 2022, the optimization segment dominated the market with the largest market share of 41.34% and market revenue of USD 8.98 Million. Swarm intelligence is a type of AI based on the collective behaviour of a decentralized, self-organized system. It is broadly used for analyzing large volumes of data and producing optimal solutions to the complex problems.
• In 2022, the robotics segment dominated the market with the largest market share of 45.68% and market revenue of USD 9.92 Million.
The application segment is divided into robotics, drones and human swarming. In 2022, the robotics segment dominated the market with the largest market share of 45.68% and market revenue of USD 9.92 Million. This factor is because of the growing use of swarm robots in the industries like automotive and agriculture.
• In 2022, the robotics & automation segment dominated the market with the largest market share of 48.88% and market revenue of USD 10.62 Million.
The end user segment is divided into transportation & logistics, robotics & automation, healthcare, retail & e-commerce and others. In 2022, the robotics & automation segment dominated the market with the largest market share of 48.88% and market revenue of USD 10.62 Million. Many automated models use swarm intelligence-optimized techniques and are used for several applications.
Regional Segment Analysis of the Swarm Intelligence Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Swarm Intelligence industry, with a market share of 41.11% and a market value of around USD 8.93 Million in 2022. Based on one of the studies in 2017, the US contributing more than USD 3 million to the global swarm intelligence market. Moreover, the US has the highest military budget, and they are introducing swarm robots that would change how it is fought. The US is also testing interconnected, cooperative drones capable of competing to beat adversaries.
Key players operating in the global Swarm Intelligence market are:
• Power-Blox AG
• Sentien Robotics, LLC
• Apium Swarm Robotics
• Swarm Technology
• ConvergentAI, Inc.
• Mobileye (Intel)
• Continental AG
• Robert Bosch GmbH
• Unanimous AI
This study forecasts revenue and volume at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Swarm Intelligence market based on below mentioned segments:
Global Swarm Intelligence Market by Capability:
Global Swarm Intelligence Market by Application:
• Human Swarming
Global Swarm Intelligence Market by End User:
• Transportation & Logistics
• Robotics & Automation
• Retail & e-Commerce
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About the report:
The global Swarm Intelligence market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.