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Swarm Robotics Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033
Swarm Robotics Market
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According to The Business Research Company's, The swarm robotics market size has grown exponentially in recent years. It will grow from $0.84 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 31.3%. The growth in the historic period can be attributed to increased automation in industries, demand for unmanned systems, a rise in investments in R&D, and applications in the defense and security sectors.
The swarm robotics market size is expected to see exponential growth in the next few years. It will grow to $3.30 billion in 2028 at a compound annual growth rate (CAGR) of 31.4%. The growth in the forecast period can be attributed to the emergence of 5G and edge computing, demand for precision agriculture solutions, integration with the Internet of Things (IoT), expansion of smart city initiatives, and adoption in healthcare and emergency services. Major trends in the forecast period include diverse applications, integration with AI and machine learning, bio-inspired algorithms, collaborative swarms, edge computing, and connectivity.
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Market Drivers and Trends:
The growing demand for smart manufacturing is expected to propel the growth of the swarm robotics market. Smart manufacturing integrates advanced technologies like IoT, AI, and automation to optimize production processes and supply chains for enhanced efficiency and productivity. The rising adoption of smart manufacturing is driven by the need for improved operational efficiency, cost reduction, and agility in response to dynamic market demands. Swarm robotics in smart manufacturing enables collaborative and flexible automation, enhancing production efficiency and adaptability to changing manufacturing environments. For instance, in December 2022, according to a report published by Conexus Indiana, a US-based manufacturing industry, the adoption of smart technologies saw a significant 35% increase compared to the previous year 2021, with a concurrent 13% rise in the number of companies that possess both allocated budgets for technology adoption and strategic roadmaps. Therefore, the growing demand for smart manufacturing will drive the growth of the swarm robotics market.
Major companies operating in the swarm robotics market increasingly integrate advanced AI and machine learning algorithms, such as AI-powered robotic mining systems, to improve efficiency, safety, and extraction rates in underground and surface mining operations. AI-powered swarm robotic mining systems utilize multiple autonomous robots, coordinated through artificial intelligence and swarm algorithms, to efficiently and safely perform various mining operations. For instance, in January 2023, Robotics Plus Ltd., a New Zealand-based agricultural technology company, launched AI-powered swarm robots designed for precision farming tasks. These rugged and autonomous robots operate in squads, capable of producing from hundreds of tons to well over one million tons of ore annually in a single mining operation, significantly enhancing versatility in new mine operations within months instead of years. It works around the clock, leveraging machine learning in its software architecture to collaborate with and progressively learn from human experts. Moreover, the application of these fully electric robotic mining swarms promises to eliminate the carbon footprint associated with mining activities, replacing conventional explosive methods with precision mining techniques.
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Major Key Players of the Market:
The Boeing Company, Rolls-Royce Holdings PLC, KION GROUP AG, Idaho National Laboratory, École Polytechnique Fédérale de Lausanne (EPFL), Technische Universiteit Delft, Swisslog Holding AG, Boston Dynamics Inc., Ars Electronica Futurelab GmbH, Exyn Technologies Inc., Bristol Robotics Laboratory, Scientific Systems Company Inc., DoBots B.V., Power-Blox AG, Hydromea SA, Unanimous A.I. Inc., Swarm Technology LLC, SwarmFarm Robotics Pty Ltd, Sentien Robotics LLC, Berkeley Marine Robotics, FARobot Inc., K-Team Corporation, Robotics Inventions Inc., AGILOX Services GmbH
Swarm Robotics Market 2024 Key Insights:
• The swarm robotics market size is expected to see exponential growth in the next few years. It will grow to $3.30 billion in 2028 at a compound annual growth rate (CAGR) of 31.4%.
• Smart Manufacturing Drives Swarm Robotics Market Growth
• AI-Powered Swarm Robotics Revolutionizing Mining And Agriculture Industries
• North America was the largest region in the swarm robotics market in 2023
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