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Global Swarm Intelligence Market to 2028 - Growing Popularity of Swarm Intelligence in DefenseDUBLIN, Nov. 8, 2018 /PRNewswire/ -- The "Global Swarm Intelligence Market: Focus on Platform and Algorithm Model - Analysis and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering. 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. 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. 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. Key Topics Covered: Executive Summary 1 Market Dynamics
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