With 30.9% CAGR, Swarm Robotics Market Growth to Surpass USD 3.0 billion

Posted by edwardzmusso on September 8th, 2023

The swarm robotics market is projected to grow from USD 0.8 billion in 2023 to USD 3.0 billion by 2028, registering a CAGR of 30.9% during the forecast period. The rising use of swarm robotics for parcel delivery through drones and the integration of swarm intelligence technology with connected cars drive the market for swarm robotics. Increasing the use of swarm robotics in warehouses will also boost market growth in the coming years.

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The growing penetration of connected cars in the swarm robotics market is expected to positively impact the market. Connected cars are equipped with sensors and communication technologies that allow them to interact with each other and with the environment. This makes them ideal platforms for swarm robotics applications. Connected cars enable the driver to connect with online platforms and facilitate real-time communication. The growth of this market is driven by government mandates on telematics applications, the implementation of intelligent transportation systems (ITS), rapid urbanization, and increasing demand for usage-based insurance (UBI).

Further, using swarm robotics for parcel delivery through drones is a growing trend driving the swarm robotics market. Swarm robotics can be used to coordinate the actions of a large number of drones to deliver parcels to a variety of locations. This would allow for more efficient and cost-effective parcel delivery. For instance, a swarm of robots works alongside humans in an Amazon sorting center. Amazon needs this robotic system to supercharge its order fulfillment process and make same-day delivery a widespread reality.

Moreover, in 2022, DPD Germany tested swarm robots for the "depot of the future." These LoadRunners are a real revolution in intralogistics. This is because driverless vehicles are not only incredibly fast and maneuverable, but they also set new benchmarks in the use of artificial intelligence (AI).

The military & defense end-use industry is expected to hold the largest market share during the forecast period. Swarm robots are extensively being used in search & rescue and disaster relief, inspection & monitoring, among others. In addition, the military industry is investing heavily in swarm robotics research and development. This technology is expected to play an increasingly important role in future military operations. Moreover, in the military, UAVs are being extensively used for various operations, such as search and rescue, surveillance, traffic monitoring, weather monitoring, and firefighting. Swarm-based drones can easily cover large areas at low costs, owing to which their adoption has been increasing for military operations.

Based on Region, North America is expected to lead the swarm robotics market in 2022, with the US being the largest market in the region. This region is a key market as it is home to some of the major industry players, such as Boston Dynamic (US), Swarm Technology (US), and Sentien Robotics (US). Increased R&D activities in the field of swarm intelligence would drive the growth of the swarm robotics market in North America. Further, the increasing demand for autonomous and semi-autonomous systems in the military, healthcare, and industrial sectors is driving the market growth.

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Major players operating in the swarm robotics market include Hydromea (Switzerland), Boston Dynamic (US), SwarmFarm (Australia), Swarm Technology (US), Sentien Robotics (US), Berkeley Marine Robotics (US), Swisslog Holding AG (Switzerland), FARobot, Inc. (Taiwan), K-Team Corporation (Switzerland), KION Group AG (Germany), among others. These companies have strong distribution networks and reliable manufacturing facilities across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of a robust market presence, reputable products and services, and strong business strategies. Furthermore, these companies have a significant market share, products with varied applications, broader geographical use cases, and a more extensive product footprint.

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edwardzmusso
Joined: February 8th, 2021
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