The security robots market is expected to grow from US$ 31 billion in 2021; it is expected to register at a compound annual growth rate (CAGR) of 18.5% from 2022 to 2028.
Security robots are autonomous surveillance devices that possess cameras on wheels and patrol assigned areas. These robots assist the security guards by alerting them of intrusion. A security robot uses an integrated robotic voice to alert security personnel and communicate with other security robots in assigned areas.
The demand for security robots is increasing due to security concerns and the rising penetration of automation techniques. Further, companies in the value chain, which are constantly developing advanced security solutions that are capable of replacing human intervention, and the decline in the average cost of security robots are expected to boost the security robots market growth.
MARKET DYNAMICS
The market growth of security robots is attributed to the increasing defense expenditure in emerging economies; procurement of robots for commercial and civil areas; and development of autonomous and AI-enabled security robots for military, defense, and commercial purposes. Further, advancements in regulations for using drones and the advent of unmanned underwater vehicles are a few other factors contributing to the demand for security robots, which is boosting the growth of the security robots market.
MARKET SCOPE
The “Global Security Robots Market Analysis to 2028” report aims to provide an overview of the security robots with detailed market segmentation based on product type, end-use, and vertical. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global security robots market is segmented into product type, end-use, and vertical. Based on component, the market is segmented into unmanned aerial vehicles, unmanned ground vehicles, and unmanned ground vehicles. Based on end-use, the security robots market is categorized into spying, explosive detection, firefighting, demining, rescue operations, and others. Based on vertical, the security robots market is segmented into manufacturing, healthcare, transportation & logistics, commercial, military, IT, and others.
REGIONAL FRAMEWORK
The global security robots market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers analysis and forecast of 18 countries across the world, along with trends and opportunities prevailing across the mentioned regions.
APAC dominated the security robots market with more than 30% share in 2021. The region witnessed the presence of a large number of security robot providers; rising expenditure on defense and military; and increasing real estate industry in Singapore, India, China, Vietnam, and many other countries are driving the demand for deploying security robots. Additionally, the inclination toward the procurement of unmanned aerial vehicles (UAVs)/drones for border security purposes is also creating a lucrative demand for security robots.
The below figure showcases the revenue growth trend of the global security robots market:
Source: The Insight Partners Analysis
The report analyzes factors affecting, such as drivers, restraints, opportunities, and future trends, which impact the security robots market. It also provides an exhaustive PEST analysis of the factors affecting the security robots market.
IMPACT OF COVID-19 PANDEMIC
The onset of the COVID-19 pandemic has positively impacted the demand for security robots. The security robots were deployed in various countries under different restrictions imposed by governments of various countries to curb the spread of COVID-19. Increasing use of autonomous robots has enhanced the efficiency of security guards and technical personnel and reduced the risk of contracting COVID-19. During the pandemic, the lack of security personnel in commercial areas such as airports and manufacturing industries has created a necessity for normal operation, which is being met by the implementation of security robots. Moreover, the use of technologies such as human face recognition, anti-COVID mask detection, the pursuit of an intruder, and remote creation and programming of robot patrol routes are a few of the features that increased the adoption of security robots during the pandemic and recovery phase.
MARKET PLAYERS
The report covers key developments in the security robots market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. The market players operating in the security robots market are anticipated to experience lucrative growth opportunities in the coming years with the rising demand for security robots.
The report includes the profiles of key security robots companies, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key developments in the past five years. The list of a few companies engaged in the security robots market is mentioned below.
- Aerovironment, Inc.
- Cobham PLC
- Elbit Systems
- ENDEAVOR ROBOTICS
- Knightscope, Inc.
- Kongsberg Maritime
- Lockheed Martin Corp.
- Qinetiq Group PLC
- Recon Robotics
- Thales SA
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.