Swarm Intelligence Market Estimated to Surpass $250 Million Mark by 2026

(IT-NEWSWIRE.COM, September 10, 2021 ) The global Swarm Intelligence Market is estimated to surpass $250 million mark by 2026, growing at an estimated CAGR of more than 38.9% during the forecast period 2021 to 2026. Swarm Intelligence is one of artificial intelligence technologies that is used in the operations where systematic algorithms have to be applied. Increasing usage of robots, automation and drones which need high performance and high efficiency is expected to drive the market. Increased adoption of drone swarms in defense is major factor that drives the market. Rising demand for swarms in autonomous vehicles and various swarm intelligence such as ant colony optimization, particle swarm optimization as well as artificial fish optimization for parcel delivery through drones, increasing adoption of the technology for solving big data problems are some of the factors for growth of market. The movement of goods and logistics along different routes increases the operational costs for business, along with the travel time. This in turn stimulates the need for analytical models that can be solved through the Swarm model which in turn drives the demand for the market. These factors are set to boosts the market growth for Swarm Intelligence during the forecast period 2021-2026.

Swarm Intelligence Market Segment Analysis – By Application

Swarm Intelligence Market is segmented based on the application into Robotics, Drones, and Human Swarming. Robotics segment is expected to hold largest share in the forecast period with 52% share in 2020. Rising developments of industries in the recent period is one factors driving the growth. Robots in a swarm can be used to find the target in such a way that the final distribution is equivalent to the target qualities. Robots and drones replace the human’s efforts through automation. Robots can be utilized for many tasks including transports, surveillance, assembly etc. These are the advantages and driving factor for the market growth of the Swarm Intelligence.

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Swarm Intelligence Market Segment Analysis – By Model

Swarm Intelligence Market is segmented based on the Models into Ant Colony Optimization and Particle Swarm Optimization. Among these two, Ant Colony optimization is expected to grow at fastest rate of 44.4% in the forecast period. This ant colony optimization is used to find the solution for the tedious optimization problems. It solves the problem of routing in telecommunication network. Ant colony can be used in dynamic applications, easily adaptable and efficient for travelling. Ant colony is having the largest market share in 2020 and this attributes the growth of Swarm intelligence market.

Swarm Intelligence Market Segment Analysis – By Geography

North America dominates the market with a share of over 45.2% in 2020. APAC is expected to grow and will have the highest growth rate in the forecast period. Huge investments in Military and Defence by North America attributes to the the growth of the market. In APAC, China and Japan are major driving economies for the growth of swarm intelligence market. Increased adoption of robotics and drones in turn attributes to the growth. Europe and ROW follow showing substantial growth during the forecast period due to rising awareness of the capabilities of swarm intelligence.

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Swarm Intelligence Market Drivers

Increased adoption of Robots and AI in the military and defence sector

Increased deployment of Robots & Drones which have high efficiency and high accuracy is the major driving factor for the growth. Increased awareness and usage of drones in the Defence and Military sectors are attributed to the market growth. Adoption of swarm intelligence in the transportation for purpose of easy and efficient routing and increasing implementation of algorithms in big data for the optimizing and for data manipulation techniques are some for the driving factors for the growth of swarm intelligence.

Rising Labor Costs amidst the Aging Workforce to Boost the Robotic swarm Demand

The labor cost is highly significant in the total operating cost, making generally 62%-65% of the total cost. In majority of the cases, manual jobs typically consist of two categories of staff: direct and indirect where industries cover an area of more than 2,00,000 square feet. Direct staff is responsible for executing the process while indirect staff is for the back-end support for direct staff. The presence of both direct and indirect staff coupled along with department managers presents a crucial cost in operating a warehouse. Rise in the hourly wages from $19.6 in 2017 to $22.7 in 2020. Moreover, the average weekly hours have increased 42.11 in 2017 to 39.2 in 2020 that has relatively created stagnant warehouse productivity. As average hourly earnings will hike further amidst the rising global inflation with weekly hours to remain constant or decline in the coming years, the operating costs are bound to advance. Apart from this, the developing nations have seen a constant growth in the ageing workforce resulting in issues related to safety, quality control and productivity. Thus, the automation of industries has become a notable means to tackle the rising wages and workforce age. This has resulted in the warehouse and industrial operators to rely upon the robotics to provide a convenient and efficient way of reducing the operational costs while simultaneously maintaining the productivity at optimum levels. This is where swarm intelligence comes into the picture.

Swarm Intelligence Market Challenges

Lack of Technical Expertise

Major challenging factor are lack of technical expertise including lack for professionals and high initial investments and technical requirement for deployment for swarm intelligence. High concern for the data security and privacy, as the data are vulnerable for any cyber-attack are also market limitations. Lack of awareness about the emerging technologies in various countries is few market challenges faced.

Swarm Intelligence Market Landscape

Swarm intelligence uses the strategies like expansion, collaboration, partnerships for the market growth. Swarm intelligence consists of few major players in the market. Sentien Robotics, Swarm Systems, Swarm Technology, and Unanimous A.I., Valutico, Axonai, Brainalyzed, Dobots, Enswarm, Hydromea SA, Mobileye, Netbeez, Power-Blox, Queen B Robotics, Resson Aerospace and others.

Acquisitions/Technology Launches/Partnerships

In January 2021, SkyGrid, a joint venture between Boeing and Spark Cognition has announced a plan to deploy AI powered cybersecurity system on drones.

Key Takeaways

The Swarm intelligence market is estimated to witness substantial growth over the forecast period primarily due to the Increasing usage of swarm intelligence for solving the location problems, rising adoption of swarm-based drones in the military is expected to grow in the forecasted period.

Increased operational cost, high travel times are the major reasons which drive swarm intelligence to resolve the issue which in turn improves the market growth.

Swarm Intelligence market will have the substantial growth in the North America especially in US region for Defence and military.

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Swarm Intelligence Market Estimated to Surpass $250 Million Mark by 2026