With 17.65% CAGR Rise, Global Security Robots Market Size Projected to Reach USD 116.44 Billion by 2030: Polaris Market Research

NEW YORK, Jan. 3, 2023 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Security Robots Market Share, Size, Trends, Industry Analysis Report, By Application (Patrolling, Explosive Detection, Rescue Operations, Others); By Type; By End-Use; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research study, the global security robots market size & share was valued at USD 27.32 billion in 2021 and is expected to surpass USD 116.44 Billion by 2030, growing at a CAGR of 17.65% during the forecast period.

What are Security Robots? How Big is Security Robots Market Size & Share?

• Overview

Security robots are technological devices capable of performing various tasks earlier done by humans. Security robots incorporate artificial intelligence (AI), streaming video, and other connected technologies to perform security duties. They assist in monitoring and investigating surveillance areas. Key applications of security robots include spying, explosive detection, dynamic mission planning, firefighting, demining, rescue operations, transportation, patrolling, and others.

These robots have the ability to collect more data than humans can. Security robots are majorly used in numerous establishments, such as parking lots, malls, schools, or campuses across the globe. Growing demand for security robots and rising penetration of advanced automation techniques across the world are anticipated to drive the security robots market size over the forecast period.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Highlights of The Report

• All-inclusive information on the product portfolios of the top players in the market.
• An in-depth assessment of the geographic and business segments of the market.
• Market segmentation on the basis of the type of product, application, and region.
• It offers a forward-looking perspective on the developing elements driving or controlling the business area's development.
• The recent research and development projects performed by each key player.
• A thorough analysis of the market's value chain and assess the effect of Porter's five forces.

Some of the Top Market Players Are:

• Lockheed Martin
• Thales Group
• BAE Systems
• Northrop Grumman
• Elbit Systems
• Hyundai Motor
• Cobham Limited
• Leonardo
• Endeavor Robotics
• Kongsberg Maritime
• Recon Robotics
• AeroVironment.
• Knightscope Inc.
• DJI
• L3 Harris Technologies
• QinetiQ Group

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Increasing expenditure on the defense and military sector to push the market growth

Increasing adoption of unmanned solutions by different military & defense forces is expected to fuel the security robots market growth during the forecast period. Various benefits offered by security robots, such as the remote sensing abilities and increasing requirement for monitoring shopping malls, college campuses, parking lots, and other public areas due to the security threats, are fueling the market growth. The increasing focus of various firms in the industry on developing advanced security solutions is further projected to bolster the security robots industry growth.

Moreover, security robot market trends boosting the industry growth include growing expenditure on the defense and military sector, mainly in developing nations like India, China, and Indonesia, as well as the rapid development of autonomous and artificial intelligence-enabled robots. A surge in developments in the advent of unmanned vehicles is another key factor anticipated to support the market demand over the anticipated period.

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Security Robots Market Report Highlights

• Patrolling segment is expected to grow at a high CAGR during the forecast period owing to the increased government investments to set up improved and enhanced Managed Security Robotics Services.
• Unmanned aerial vehicles segment accounted for a major global share attributed to high accessibility to residential and commercial users across the globe.
• Defense and Military sector held the largest share and is anticipated to maintain its position throughout the study period due to the growing popularity of UAVs and rising military research & development activities.
• North America is anticipated to grow rapidly over the forecast period because of the increasing usage of advanced weapons in the defense sector and the high deployment of surveillance security robots in the commercial sector with the help of several large market players.

Recent Developments

• In August 2022, QinetiQ Group Plc, acquired Avantus Federal, a space, cyber, and mission-focused data services and solutions company. With this acquisition, QinetiQ incorporated business, customer relationships, and core capabilities to complement its high distinctive range of offerings.

Segmental Analysis

• The patrolling segment is estimated to register the fastest growth in 2021

Based on application security robots market segmentation, the patrolling segment is projected to grow at the fastest rate due to the growing demand for strong security on several premises to commercial guard facilities coupled with rising investment by the government to deploy enhanced and developed Managed Security Robotics Services. For instance, SEO, a South Korean company, launched its new security service robot named "ARVO," which offers higher safety services, including patrol and inspection through the combination of CCTV and several types of sensors. Further, a surge in concerns about safety and security among borders of various nations is expected to create lucrative growth opportunities for the segment market.

• The unmanned aerial vehicles segment held the highest security robots market share in 2021

By type, the unmanned aerial vehicles category accounted for the major revenue share in 2021. This growth can be attributed to factors including increased availability to various operators, including both residential and commercial users, and growing adoption of unmanned aerial vehicles to improve surveillance and reconnaissance and to defend the borders of several countries. Furthermore, the rising number of collaborations and partnerships among leading market players to expand product offerings, along with an increasing number of new products introduced by these players, are the factors boosting the segment demand.

• Defense and Military sector accounted for the significant revenue share

On the basis of end-use, the defense and the military sector captured the largest market share in 2021 and is expected to retain its dominance during the foreseen period owing to the growing popularity and understanding of the significance of UAVs, increased funding for the research and development of advanced UAVs. Also, rising military research fuels the segment growth of the security robots market. In addition, increasing technological developments to improve the functionalities and capabilities of security robots for various major operations are expected to propel the adoption of these robots in the defense and military sector in the upcoming period.

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Security Robots Market: Report Scope

Geographical Overview

• North America region is likely to lead the market

On a global basis, the security robots market demand in the North American region is expected to show the fastest growth rate throughout the anticipated period. Factors contributing to the regional growth include increased use of advanced weapons and robotics in the military & defense as well as rising investment in the development of the defense sector in the region. Also, rapid technological developments and increasing advancements of surveillance security robots in the commercial sector are projected to support the regional market growth.

Furthermore, Asia Pacific witnessed the largest market share in 2021 owing to the presence of numerous security robot providers, growing expenditure on the military & defense sector, and a surge in demand for real estate in nations like India, China, Singapore, and Japan. In addition, increasing spending of governments to manage criminal activities, terrorist attacks, infiltration, and illegal immigration.

Browse the Detail Report "Security Robots Market Share, Size, Trends, Industry Analysis Report, By Application (Patrolling, Explosive Detection, Rescue Operations, Others); By Type; By End-Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/security-robots-market

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Polaris Market Research has segmented the security robots market report based on application, type, end use and region:

By Application Outlook

• Patrolling
• Explosive Detection
• Rescue Operations
• Others

By Type Outlook

• Unmanned Aerial Vehicles
• Unmanned Ground Vehicles
• Unmanned Underwater Vehicles

By End-Use Outlook

• Defense and Military
• Residential
• Commercial

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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