The swarm intelligence market is expected to be valued at USD 447.2 million by 2030, growing at a CAGR of 40.47% from 2020 to 2030
NEW YORK, Nov. 27, 2017 /PRNewswire/ --Swarm intelligence market expected to grow at significant rate between 2020 and 2030
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The swarm intelligence market is expected to be valued at USD 447.2 million by 2030, growing at a CAGR of 40.47% from 2020 to 2030, considering the technology will get commercialized by 2020. The key factors driving the growth of the swarm intelligence market are the increasing usage of swarm intelligence for solving big data problems, the rising adoption of swarm-based drones in the military, and need for swarm intelligence in the transportation business. However, the major factor restraining the growth of this market is the reluctance to accept new technology
Robotics expected to account for largest share of swarm intelligence market by 2020
Swarm robotics is the study of how a large number of relatively simple physically embodied agents can be designed such that a desired collective behavior emerges from the local interactions among agents and between agents and the environment. Robots in a swarm can be used to find the target in such a way that the final distribution is proportional to the target qualities. Some algorithms provide the robot swarm with scalability in terms of the number of robots and the number of targets, and with adaptability to a nonuniform distribution of the target qualities. This factor would help in the growth of the swarm intelligence market in the coming years
APAC expected to account for largest share of swarm intelligence market by 2020
APAC is expected to account for a substantial share of the global swarm intelligence market. APAC comprises China, Japan, and South Korea; China is considered one of the major contributors. The swarm intelligence market growth in APAC is attributed to the increased adoption of swarm-based drones in the military. In June 2017, China launched a swarm of 119 fixed-wing UAVs; the Chinese military is also planning to launch "armed drones" as a new battle technique. This would drive the growth of the swarm intelligence market in this region.
The breakup of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors – 25%, and Others– 25%
• By Region: North America – 40%, Europe – 30%, APAC – 20%, and RoW - 10%
The key players operating in the swarm intelligence market are DoBots (Netherlands), Hydromea (Switzerland), Sentien Robotics (US), Unanimous A.I. (US), AxonAI (US), Swarm Technology (US), SSI Schäfer - Fritz Schäfer (Germany), Valutico (Austria), Enswarm (UK), and Power-Blox (Switzerland).
Research Coverage:
The research report on the swarm intelligence market covers the market segmented on the basis of the following segments: model, capability, application, and geography. The market has been segmented on the basis of model into Ant Colony Optimization, Particle Swarm Optimization, and others. On the basis of application, the swarm intelligence market has been classified into robotics, drones, and human swarming. The market has been segmented on the basis of capability into clustering, optimization, scheduling, and routing. The report covers the market based on 4 major regions—North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on model, capability, application, and geography have been conducted to provide an overall view of the swarm intelligence market.
The major drivers, restraints, opportunities, and challenges for the swarm intelligence market have been detailed in this report.
A detailed competitive landscape of key players in the swarm intelligence market has been included in the report.
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