Hyderabad, July 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Security Robot Market Report (2023-2028)," the market is estimated at USD 13.82 billion in 2023. It is expected to register a CAGR of 13.57% during the forecast period.
Security robots are designed to replace human security guards. They can monitor their surroundings and detect threats using remote sensing capabilities. The rapid developments in technology have added new functions and features to security robots. Automation and sensor technologies are contributing significantly to the growth of the market. Breakthroughs in neural network technology allow these robots to learn over time and improve their functions.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 13.82 billion |
| Market Size (2028) | USD 26.11 billion |
| CAGR (2023-2028) | 13.57% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increased security concerns. |
| Technological advancements. | |
| Diverse applications. |
Who are the Top Companies in the Global Security Robot Market?
The global security robot market is highly fragmented. There are several new entrants and start-ups in developed regions. The barriers to entry into the market and exit from the market are high, leading to higher market penetration. However, the tendency to vertically integrate across different value chain segments tends to offer a competitive edge to leading vendors in the market.
The significant players in the global security robot market in 2023 with the majority market share are,
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Thales SA
- BAE Systems PLC
- Elbit Systems Limited
- Leonardo SPA
- Aerovironment Inc.
- Knight Scope Inc.
- SZ DJI Technology Co. Ltd
- SMP Robotics
- Boston Dynamics Inc.
- FLIR Systems Inc.
- Kongsberg Gruppen
- Qinetiq Group PLC
- RoboTex Inc.
- Recon Robotics Inc.
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Key Highlights from the Global Security Robot Market Report:
Commercial Industry Holding a Major Share
- Security robots are equipped with advanced sensors like ultrasonic and LiDAR. With the help of these sensors, these robots can identify anomalies and prevent crime. They can operate autonomously or under remote control.
- Patrol robots offer improved security and cost advantages for commercial businesses compared to security guards. These robots have a 360-degree intelligent video surveillance system to analyze and predict potential threats.
- Increasing commercial security budgets and untapped opportunities in the sector are expected to boost the demand for security robots. Security robots are gaining popularity in workplaces, malls, factories, airports, and hospitals.
United States Leading with Highest Market Share
- North America is a leading innovator and pioneer in adopting security robots. The region is one of the largest markets for security robots, driven by increased defense spending by the United States and Canada.
- Security robots are becoming more necessary in public venues like schools due to the rise in terrorist attacks and armed conflicts. Security and surveillance services in the United States are widely adopting unmanned solutions due to their dependability and quality, especially for border defense.
- Technological advancements in machine learning, computer vision, and robotics are transforming the security systems in the United States, making robots more innovative and flexible.
What are the Latest Developments in the Global Security Robot Market?
- In August 2022, Hyundai Motor Group launched the Boston Dynamics AI Institute to make fundamental advances in AI, robotics, and intelligent machines with a USD 400 million investment.
- In June 2022, Elbit Systems unveiled COPAS-L, a new Electro-Optical (EO) payload for Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR).
Mordor Intelligence has Segmented the Global Security Robot Market Based on Type of Robot, End-User, Application, and Geography.
- By Type of Robot (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Unmanned Aerial Vehicles
- Unmanned Ground Vehicles
- Autonomous Underwater Vehicles
- By End User (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Defense and Military
- Residential
- Commercial
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Spying
- Explosive Detection
- Patrolling
- Rescue Operations
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Security Robot Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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