Swarm Intelligence Market Foreseen to Grow Exponentially over 2024

Sarasota, FL -- (SBWire) -- 12/26/2018 --Swarm Intelligence Market Overview:

Swarm intelligence is a form of artificial intelligence which is inspired biologically. It is nothing but the collective behavior of self-organized, decentralized systems of either natural or artificial. It basically deals with the recognition of interactions amongst the individuals and with their respective surroundings. Flocks of birds, colonies of ants, group of animals on land, fishes are some of the systems included in swarm intelligence. Human artifacts are also incorporated into the discipline of swarm intelligence. UAV (Unmanned Aerial Vehicle) which is also called the drone is the best example of Swarm intelligence market which widely adopted by many countries especially in the military field.

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Swarm Intelligence Market Growth Factors:

Need of drones in military, transportation business and for solving big data problems are factors driving the growth of the swarm intelligence market. Wide usage of swarm robots in the automobile and agricultural industries is further propelling the growth of the market. There is a bit resistance offered by some industries to embrace the new technology which is restraining the growth of the swarm intelligence market. Execution of Swarm intelligence in telecommunications and warehouses along with its integration with cars are the opportunities posed by the market. Lack of awareness, professionals and high-cost production issues are the challenges likely to be faced by the swarm intelligence market.

Swarm Intelligence Market Segmentation:

Swarm intelligence market is categorized on the basis of model, capability, and application. On the basis of the model, the market is segmented into Particle Swarm Optimization, Ant Colony Optimization, and others. Particle Swarm Intelligence is expected to grow at the higher rate in the forecast period. Based on capability the segment the segment is bifurcated as clustering, scheduling, optimization, and routing. Optimization segment is widely adopted and holds the high share value. Moreover, swarm intelligence market on the basis of the application is segregated as Drones, Robotics, and Human Swarming.

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Swarm Intelligence Market Regional Analysis:

Currently, North America dominates the swarm intelligence market. However, Asia-Pacific (APAC) region is expected to hold the highest share value and dominate the swarm intelligence market in the forecast period. China is considered to contribute majorly to the swarm intelligence market. Nonetheless, India and Japan are the countries which are also stepping into the swarm market and fuelling the growth of the market. Extensive use of UAV (Unmanned Aerial Vehicle) in Latin America is projecting the growth of swarm intelligence market.

Swarm Intelligence Market Competitive players:

Some of the key competitors in the swarm intelligence market include Axonai, Hydromea SA, Queen B Robotics, Brainalyzed, Grey Orange, Swarm System, Swarm Technology, Kim Technologies, Bosch Group, Evana among others.

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