Swarm Intelligence Market Size, Trends, Growth Analysis And Forecast 2024-2033

The Business Research Company recently released a comprehensive report on the Global Swarm Intelligence Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The swarm intelligence market size has grown exponentially in recent years. It will grow from $X0.04 billion in 2023 to $0.06 billion in 2024 at a compound annual growth rate (CAGR) of 41.5%. The growth in the historic period can be attributed to research and development initiatives, rise of internet of things (iot), military and defense applications, autonomous vehicles and drones, and growth of edge computing.

The swarm intelligence market size is expected to see exponential growth in the next few years. It will grow to $0.23 billion in 2028 at a compound annual growth rate (CAGR) of 40.8%. The growth in the forecast period can be attributed to expansion of IoT ecosystem, smart cities initiatives, distributed energy systems, precision agriculture, and autonomous logistics and supply chain. Major trends in the forecast period include explainable swarm intelligence, swarm robotics in construction, swarms in space exploration, swarm intelligence for environmental monitoring, and swarm learning in education.

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Market Drivers and Trends:

Rising security concerns and cyber threats are expected to propel the growth of the swarm intelligence market going forward. Security concerns and cyber threats refer to potential risks that can adversely impact the security, integrity, or confidentiality of an information system or the information it contains or disrupt digital life in general. Swarm algorithms can analyze massive datasets to identify abnormal patterns, potentially revealing security breaches and cyberattacks in real-time. For instance, in January 2024, according to American Advisors Group, a US-based reverse mortgage company, there were 53.35 million US citizens affected by cybercrime in the first half of 2022. Further, cybercrime is expected to cost UK businesses an average of $5339 (£4200) in 2022. Therefore, rising security concerns and cyber threats are driving the growth of the swarm intelligence market.

Major companies operating in the Swarm Intelligence market are developing innovative technological products, such as drone swarming capabilities, to increase their profitability in the market. Drone swarming capability refers to the ability of a large group of multiple unmanned aerial vehicles (UAVs) or drones to fly together as a unified and coordinated entity. For instance, in October 2023, Shield AI, a US-based aerospace and defense company, launched V-BAT Teams for intelligent, swarming' drone capabilities. It allows multiple V-BATs to read and respond to the operational environment, allowing them to autonomously carry out missions in electronically contested environments. It offers warfighters cost-effective, round-the-clock, all-encompassing coverage across wide geographic areas to locate, target, and repair thousands of enemy assets in electronically contested, operational areas. Because of its scalability, the technology can support hundreds or even thousands of aircraft in future deployments, starting with smaller formations.

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• The Major Key Players of the Market:

Yaskawa Electric Corporation, Robert Bosch GmbH, ABB Asea Brown Boveri Ltd., Onfleet Inc., Festo Inc., Scalable Robotics Inc., Fritz SchäFer GmbH, Kim Technologies Limited, Swarm Technologies Inc., Swarm Systems Limited, Embodied Inc., GoFreight Inc., Hydromea SA, Valutico UK Ltd., Valutico, Shenzhen Yuejiang Technology Co. Ltd., Enswarm Ltd., EpiSys Science Inc., ConvergentAI Inc., Sentien Robotics Inc., Unanimous A.I. Inc., Swarmbotics AI, Brainalyzed, Power-Blox AG, Kumo Logic Ltd.

Swarm Intelligence Market 2024 Key Insights:
• Security Concerns And Cyber Threats Fueling Growth Of The Swarm Intelligence Market
• Innovative Drone Swarming Capabilities Propel Major Companies In The Swarm Intelligence Market
• North America was the largest region in the swarm Intelligence market in 2023.

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