Dublin, Nov. 28, 2017 (GLOBE NEWSWIRE) -- The
"Swarm Intelligence Market by Model, Capability (Clustering, Routing, Scheduling, and Optimization), Application (Robotics, Drones, and Human Swarming), and Geography - Global Forecast to 2030" report has been added to Research and Markets' offering.
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 major factors driving the growth of this market include the increasing usage of swarm intelligence for solving big data problems and the rising adoption of swarm-based drones in the military. In transportation, the movement of goods along different routes increases operational costs for business, as well as lengthens the travel time. This generates the need for analytical models that can solve such problems. Ant Colony Optimization (ACO), a swarm intelligence-based algorithm, is used to solve optimization problems. This factor would further propel the growth of the swarm intelligence market in the transportation business during the forecast period.
This report segments the swarm intelligence market on the basis of model, capability, application, and geography. The robotics application of swarm intelligence is expected to account for the largest market share by 2020. This is attributed to the increasing use of swarm robots in industries such as agriculture and automotive. This would drive the growth of the swarm intelligence market for robotics application in the coming years.
Ant Colony Optimization is expected to account for the largest share of the swarm intelligence market by 2020. This can be attributed to the increasing adoption of this algorithm in real-time applications to provide optimal solutions. The market for Particle Swarm Optimization is expected to grow at the highest CAGR between 2020 and 2030.
Optimization is expected to account for the largest share of the swarm intelligence market by 2020. Optimization is a way to solve the problem with the best combination of solutions under given constraints. These types of problems are hard to solve because of the availability of a large number of possible solutions. Swarm intelligence algorithms such as Particle Swarm Optimization and Ant Colony Optimization, and proprietary algorithms are used to find the best optimal solution among different solutions.
On the basis of geography, the swarm intelligence market has been segmented into North America, Europe, APAC, and RoW. APAC is expected to account for the largest share of the overall swarm intelligence market by 2020. On the other hand, the market in RoW is expected to grow at the highest CAGR during the forecast period. The growth of the swarm intelligence market in this region is mainly attributed to increasing investments in the field of UAVs and the growing procurement of UAVs by the defense sector in Latin America.
The key players in this market are DoBots (Netherlands), Hydromea (Switzerland), Sentien Robotics (US), Unanimous A.I. (US), AxonAI (US), Swarm Technology (US), SSI Schfer - Fritz Schfer (Germany), Valutico (Austria), Enswarm (UK), and Power-Blox (Switzerland).
- Increase in Usage of Swarm Intelligence for Solving Big Data Problems
- Rising Adoption of Swarm-Based Drones (Uavs) in Military
- Need for Swarm Intelligence in Transportation Business
- Reluctance to Accept New Technology By Key Industries
- Integration of Swarm Intelligence Technology With Connected Cars
- Use of Swarm Robotics in Warehouses
- Implementation of Swarm Intelligence in Telecommunications Industry
- Lack of Skilled Workforce
- Low Awareness About Swarm Intelligence
- Funding Limitations
- Apium Swarm Robotics
- Bosch Group
- Grey Orange
- Hydromea Sa
- Kim Technologies
- Mobileye (Intel Company)
- Queen B Robotics
- Redtree Robotics
- Resson Aerospace
- Sentien Robotics
- Ssi Schfer-Fritz Schfer
- Swarm Systems
- Swarm Technology
- Unanimous A.I.
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