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Rising demand for automation in the security field is a key factor driving market revenue growth
— Emergen Research
VANCOUVER, B.C, CANADA, May 16, 2023 /EINPresswire.com/ — The global security robot market size reached USD 26.98 Billion in 2021 and is expected to register a revenue CAGR of 17.4% during the forecast period, according to the latest analysis by Emergen Research.
The growing demand for sophisticated surveillance and security solutions across numerous industries has led to tremendous expansion in the security robot market in recent years. Security robots are autonomous machines with cutting-edge sensors and artificial intelligence that can monitor and secure a space. These robots have developed into a useful tool for businesses, assisting them in enhancing their security protocols while minimising human involvement. The market’s expansion is aided by a number of growth factors and driven by a number of major drivers. However, some limitations can prevent the growth of the market.
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The growing demand for better security systems across a variety of industries is one of the main factors driving the security robot market. Organisations are implementing cutting-edge security solutions to safeguard their assets and the safety of their staff and clients in response to the rising threat of terrorism, theft, and other criminal activities. Security robots increase security measures and reduce risks by providing constant observation, effective patrolling, and real-time danger identification.
Another important factor for market expansion is the incorporation of artificial intelligence and machine learning technology in security robots. Robots may learn about their environment and adapt to them using these technologies. They can also spot suspicious activity and quickly react to security breaches. Security robots are an appealing option for businesses looking for strong security solutions because of their capacity to analyse data, spot patterns, and make defensible judgements in real-time.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Some major companies in the global market report include AeroVironment Inc., Lockheed Martin Corporation, Ava Robotics Inc., Leonardo S.p.A., SMP Robotics, Thales, BAE Systems, Boston Dynamics, Knightscope, Inc., and Northrop Grumman Corporation.
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Some Key Highlights from the Report:
In 2021, the firefighting industry contributed a large portion of revenue. Due to firefighting robots, injuries to fire victims are less likely. It is also used to locate fires and extinguish them before they spread out of control. The robots either have a tank of water on board or a fire hose in order to spray water on the areas affected by fire. These robots are ideally suited to find the origin and cause of the fire because they have sensors and a global positioning system. Searching for current flames, extinguishing them, suppressing them, rescuing people from burning structures, and analysing the environment in a fire-affected area are just a few of the many jobs that a firefighting robot can perform.
Due to the fact that hiring and guaranteeing adequate security is becoming a substantial difficulty in cities where the security manpower is growing more expensive and ageing, the services category accounted for a sizable revenue share in 2021. Businesses and security contractors can solve security coverage gaps by utilising security Robots-as-a-Service (RaaS) without having to invest a lot of money up front. Currently, a lot of businesses provide inside and outdoor security robot services. This segment’s growth is boosted by the fact that these robots may be rented for a set fee and are occasionally thought to be more affordable and effective.
North America’s market held the greatest revenue share in 2021 as a result of rising demand for sophisticated software systems for seamless integration of people and robots. The public and defence sectors have invested the most in security measures, which has raised the need for security robots in this area.
Market Dynamics:
The report offers insightful information about the market dynamics of the Security Robot market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Security Robot market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Security Robot market.
Emergen Research has segmented the global security robot market on the basis of type, application, component, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Ground Robots
Areal Robots
Underwater Robots
Others
Application Outlook (Revenue, USD Billion; 2019-2030)
Spying
Demining
Patrolling & Surveillance
Firefighting
Others
Component Outlook (Revenue, USD Billion; 2019-2030)
Hardware
Software
Services
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Defense & Military
Residential
Commercial
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Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Radical Highlights of the Security Robot Market Report:
Comprehensive overview of the Security Robot market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Security Robot market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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