Burlingame, June 16, 2023 (GLOBE NEWSWIRE) -- The security robot market size is estimated to reach USD 31.08 billion by 2030, expanding at a CAGR of 12.8% from 2023 to 2030, according to the recent reports of Coherent Market Insights, Inc. Security robots are mobile part of video surveillance systems. These systems are useful in patrolling remote regions, which allows them to offer real-time information to security staff. These robots send and receive large amounts of data using 4G or WiFi networks for constant monitoring. When the signal is weak, the robots can automatically switch to a backup 4G network. This avoids disturbance in surveillance. The use of security robots is extended in monitoring of indoor and outdoor facilities such as multifamily residential communities, parking structures, corporate campuses, airports, warehouses, malls and other places. Security robots can also provide assistance with other tasks including issuing badges, checking in visitors, reporting incidents, and responding to alarms among others. These robots are increasing becoming popular across various applications.
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Key Trends and Analysis of the Global Security Robot Market:
Growing applications of security robots in de-mining is a recent trend in the market. This is further anticipated to propel growth of the global security robot market over the forecast period. The security robots are used in de-mining applications to ensure complete safety of people. The Russian Defense Ministry published a report according to which, in December 2020, Russian sappers made use of the Uran-6 multifunctional robotic system for de-mining purposes near Stepankert Airport area. With growing applications of these robots in de-mining, the market is likely to witness strong growth in the near future.
Global Security Robot Market – Drivers
Increase in defense expenditure by governments around the world to drive the market growth
Many countries around the world are making use of forefront technologies for safeguarding the borders against underwater threats. In the current global situation, the threats from terrorists, seafarers, and pirates are creating concerns in marine borders. As per the UN, during 2019, nearly 580 ships traversed 2,800 Km coastline in South Africa due to which the transnational crimes at sea started increasing. Such factors are further driving adoption security robots, which is expected to augment growth of the global security robot market over the forecast period.
Security Robot Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 11.8 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 12.8% | 2030 Value Projection: | US$ 31.08 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Recon Robotics Inc., Lockheed Martin Corporation, RoboTex Inc., Northrop Grumman Corporation, QinetiQ, Thales SA, Kongsberg Gruppen, BAE Systems PLC, FLIR Systems Inc., Elbit Systems Limited, Boston Dynamics Inc., Leonardo SpA, SMP Robotics, AeroVironment Inc., DJI, and Knight Scope | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Rise in concerns around safety to boost the market demand
The social safety scenario around the world is worsening as the crime rates continue to increase in several regions. The safety concerns as a result are on the rise creating a significant demand for security robots. For instance, as per the National Statistics of the U.K., the crime rate in the country are increasing with time, from being 69 per 1,000 inhabitants in 2014 to 95 per 1,000 in 2019. Due to this, many public as well as private institutions are investing to develop cost-efficient ways of reducing crime and offering enhanced protection to people and properties. This factor in turn is projected to aid in growth of the global security robot market over the forecast period.
Global Security Robot Market – Restrain
Privacy and security concerns around the use of security robots to hinder the market growth
The use of security robots is extending slowly in various places such as malls, offices, and public spaces. These robots are usually used as an alternative for human security guards such as friendly robots on patrol. However, they collect too much of data compared humans, due to which the concerns around privacy and intrusion are increasing. These robots are capable of discreetly tracking people in the proximity and even if it doesn’t identify their faces. Such factors are likely to impede adoption of security robots in the near future.
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Global Security Robot Market – Opportunities
Rise in penetration of security robotics, owing to their benefits is creating growth opportunities in the global security robot market. The advancements in security robotics continue to grow, as the technology is still in its early phase. Currently available smart security robots offer tracking people and assets, they can patrol physical places, and record data. Thus, along with several other advantages of these robots, their adoption continues to rise across various industries. As a result, the market is anticipated to witness substantial opportunities in the near future.
Global Security Robot Market - Key Developments
In June 2022, Elbit Systems introduced a novel Electr-Optocal (EO) payload, COPAS-L for ISTAR (Intelligence, Surveillance, Target Acquisition, and Reconnaissance). The novel product comprises miniaturized configuration of Commander Open Architecture Panoramic Sight of the company that is used in Armored Fighting Vehicles and Main Battle Tanks globally.
In August 2022, QunetiQ Group Plc., acquired Avantus Federal and the acquisition will enable QinetiQ’s customer relationships, integrated business, and core capabilities to match its wide range of offerings.
In September 2020, BAE Systems introduced an updated version of UUV 12 for its unmanned undersea vehicle portfolio. The new 12” diameter vehicle has pushed company into the medium UUV market.
Key Market Takeaways:
Global Security Robot market is expected to exhibit a CAGR of XXX% during the forecast period. The security robot market is growing rapidly in response to the growing use of robots in surveillance and security. With the use of smart security robots, keeping track of people, assets, record data, patrol physical areas, and other applications become possible. These robots are capable of pinpointing issues that may be difficult for humans to detect.
On the basis of Type of Robot, Unmanned Aerial Vehicle Segment is expected to dominate the market during the forecast period and this is attributed to the increasing number of market players focusing on innovating new products. An unmanned aerial vehicle operates without any human intervention. Market players are increasingly introducing such products in the market. For instance, in February 2021, Paras Aerospace, revealed that it will introduce an indigenously developed cost-friendly multi-spectral camera for UAVs to be used in agriculture, forest surveys, and urban development.
On the basis of End User Industry, Defense and Military Segment is expected to dominate the market during the forecast period and this is attributed to the rise in defense spending and advancements in technology. The demand for security robots is increasing in military and battlefield applications with growing government investment in the sector.
On the basis Application, Spying Segment is expected to dominate the market during the forecast period and this is attributed to the increase in requirements of army and military sector of developed economies and growing technological developments. Security robots can be used for spying on enemy territories. Most of these applications are carried out by military and defense sector of countries. The demand for these robots is therefore increasing in this segment.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period, due to rise in adoption of security robots across several industries in the region. The region one of the leading pioneers and innovators when it comes to adoption of robotics. The region is one of the biggest markets for security robots. The technological advancements in various industries leading to emergence of machine learning, robotics, and computer vision. Thus, the regions is likely to lead the global security robot market in the coming future.
Competitive Landscape:
Key players operating in the global security robot market include Knight Scope, Recon Robotics Inc., DJI, Lockheed Martin Corporation, AeroVironment Inc., RoboTex Inc., SMP Robotics, Northrop Grumman Corporation, Leonardo SpA, QinetiQ, Boston Dynamics Inc., Thales SA, Elbit Systems Limited, Kongsberg Gruppen, FLIR Systems Inc., and BAE Systems PLC.
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Detailed Segmentation:
Global Security Robot Market, By Type of Robot
- Unmanned Aerial Vehicle
- Unmanned Ground Vehicle
- Autonomous Underwater Vehicle
Global Security Robot Market, By End User Industry
- Defense and Military
- Residential
- Commercial
Global Security Robot Market, By Application
- Spying
- Explosive Detection
- Patrolling
- Rescue Operation
- Other Types of Applications
Global Security Robot Market, By Geography
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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