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Security Robots Market Size Estimated to Reach $19.78 Billion by 2026

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Security Robots Market Size Estimated to Reach $19.78 Billion by 2026

October 28
22:34 2021
Security Robots Market Size Estimated to Reach $19.78 Billion by 2026
Security Robots Market
Surge in Adoption of Autonomous Navigation Systems, Improved Controller System for Firefighting and Other Surveillance Appliances Are Some of the Pertinent Factors for the Security Robots Market Growth.

The Security Robots Market size is estimated to reach $19.78 billion by 2026 at a CAGR of 15% during the forecast period 2021-2026. Security robots are the autonomous mobile robots, designed to deliver enhanced intelligent video surveillance solution and other on-board AI features processing. The advent of robotics as a service (RaaS), along with the rising installation of Smart security systems for diversified commercial applications in various commercial sectors have resulted in driving the Security Robots Industry. In addition, the enormous defense investment to expedite advanced unmanned ground vehicle solutions across military forces due to the prevalent geopolitical crisis across the globe is considered as the significant opportunity of this market. The surge in adoption of autonomous navigation systems, improved controller system for firefighting and other surveillance appliances are some of the pertinent factors for the market growth. Security robots offer the highest level of reliability, and the evolution of security systems, such as modular platforms, sensors and artificial intelligence is eliminating labor risk, which are helping to drive innovation, and subsequently driving the growth of the Security Robots Market.

Security Robots Market Segment Analysis – By Type

Unmanned Aerial Vehicle is analyzed to hold the largest share of the Security Robots Market in 2020. Most of the models such as Drones are relatively low in cost and thus accessible to a wide range of operators like commercial and recreational users. In September 2020, Ring, Amazon’s smart security subsidiary, launched an autonomous indoor security camera. The new autonomous drone-style camera can fly indoors and also record footage of several viewpoints. Drone technology is the next security measure that is able to perform multiple tasks like controlling perimeters. In July 2020, US Air Force research labs signed a cooperative research and development agreement for the air-launched unmanned aerial vehicle (UAV) with an Indian startup to support the development of the air-launched UAV. This co-development program between the US Air Force Research Labs, India’s Defense Research and Development Organization, the Indian Air Force and an Indian startup company is aim to develop the air-launched UAV to denote additional strength to the war fighters. Therefore, such advancements regarding cost-effective drones and firefighting technologies for various industries are estimated to drive the growth of the Security Robots Market.

Security Robots Market Segment Analysis – By Application

The Patrolling segment is estimated to register the highest growth in 2020, owing to the growing demand for the highest level of security on the premises to guard commercial facilities and promising government investment to set up Managed Security Robotics Services (MSRS). In October 2020, SEO, a medium-sized South Korean company launched its Security Service Robot, known as “ARVO”, which offers safety services, such as patrol and inspection with the combination of CCTV and various sensors. ARVO also offers image stabilization, enhanced self-driving, sound tracking technologies and wireless charging. Throughout the globe, there is a considerable concern for safety and thus, deployment of commercial, as well as residential security robot systems, is creating growth opportunities that drive the Security Robots Market.

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Security Robots Market Segment Analysis – By Geography

North America dominated the Security Robots Market in 2020, and record a CAGR of 8.37% in the forecast period, followed by Europe, owing to the extensive investment to design state of the art security measures, and tremendous implementation of enterprise security with robots, drones along with other automated industrial robots powered by AI to mitigate risks. In June 2020, Qualcomm launched Robotics RB5 Platform, world’s first 5G and AI-enabled Robotics platform that offers cutting-edge connectivity and power efficient inference. The Asia-Pacific region is estimated to become the fastest-growing market for security robots, due to the increased investment by the government for developing surveillance capabilities to manage terrorist attacks and infiltration, coupled up with lucrative market opportunities across commercial purposes. In May 2019, Japanese startup Mira Robotics launched Robot butlers, known as Ugo Robot that is operated by the remote workers to carry out a variety of household tasks. Therefore, these new opportunities and emergence of controller systems are the important factors to drive the growth of the Security Robots Market.

Security Robots Market Drivers

Growing Geopolitical instabilities and potential Government Investment

For overseas contingency operations, the U.S.A has invested enormously on surveillance security robots. Moreover, the impressive existence of companies, such as Northrop Grumman Corporation, Bluefin Robotics and AeroVironment, Inc., combined with the availability to deliver remarkable applications to reduce geopolitical instabilities across Syria, Iraq and Afghanistan strengthens the growth of the Security Robots Market. According to the Defense Department of the U.S.A, the Pentagon requested for nearly $579.9 million in FY 2021 for the large unmanned surface vehicles. In the context of prompting the defense industry regarding security robots, in February 2020, Huntington Ingalls Industries acquired Hydroid and established a strategic alliance with a U.S. based indirect subsidiary of Kongsberg Maritime. The acquisition adds Hydroid’s advanced autonomous and unmanned maritime solutions into HII’s Technical Solutions division to define innovative solutions for developing national security. Hence, such collaborations and investment due to the growing geopolitical instabilities provide additional opportunities and drive the growth of the Security Robots Market.

Leading innovations in the field of AI-Enabled Robotics Platform

The recent advancement in AI-driven cobots delivers a variety of services due to the range of state-of-the-art Components. In addition, the growing demand for stunningly smooth and seamless movement to enable precise performance influence the market to develop advanced robots with easy programmable platforms. In January 2020, Robosen Robotics, a leading innovator in the field of AI and robotics launched T9, the first robot for the consumer market to provide following functions, such as bipedal walking ability in robot form, automatic convertible movement from vehicle to robot, race function in vehicle form and other programmable/code development. Therefore, to take complete advantage of this Human assistance machine, more innovations in collaborative intelligence takes place to achieve practical applications of intelligence, which are driving growth in the Security Robots Market.

Security Robots Market Challenges

Stringent regulation and concerns about Privacy Intrusion

The stringent regulations regarding the various practices of unmanned system solutions develop hindrance for the market growth as there are certain standards to adhere in reference to adopting high accuracy robots. Besides integrating robots for security concern, it is imperative to acknowledge various risk assessments, such as concerns about Privacy Intrusion which again is the significant factor that obstruct the growth of the Security Robots Market.

Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Security Robots Market. Security Robots Market top 10 companies include Aerovironment, Inc., NXT Robotics Corp., Cobham PLC, Elbit Systems, ENDEAVOR ROBOTICS, Knightscope, Inc., Kongsberg Maritime, Lockheed Martin Corp., Qinetiq Group PLC , Recon Robotics, and many more.

Developments

In August 2020, Switch Datacenters announced the launch security robots, known as a robotic AI human-in-the-loop security solution for data centers. The product is featured with 250lb device, and also, equipped with heat sensors to scan visitor’ temperature, 360-degree cameras, and number-plate recognition for cars, and powered for constant monitoring across the Switch facility.

In May 2019, San Diego-based NXT Robotics Corp. launched Generation 5 Autonomous Vehicle and Cognitive Software Platform called “Maverick.” Maverick delivers advanced physical outdoor security patrol in several commercial platforms, such as Construction Sites, Data Centers, Parking Complexes, Detention Facilities and Perimeter or Border areas.

Key Takeaways

North America dominated the Security Robots Market in 2020 and record a CAGR of 8.37%, in the forecast period along with Europe, owing to the extensive investment to design state of the art security measures, and tremendous implementation of enterprise security with robots.

Unmanned Aerial Vehicle is analyzed to hold the largest share of the Security Robots Market in 2020, owing to the relatively low in cost and advanced drone models availability, which offer seamless accessibility to a wide range of operators like commercial and recreational users.

The recent advancement in AI-driven cobots delivers a variety of services due to the range of cutting-edge Components is accelerating the Security Robots Market.

Related Reports

A. Video Surveillance Market

https://www.industryarc.com/Research/Video-Surveillance-Market-Research-507401

B. Robotics and Automation Market

https://www.industryarc.com/Report/18679/robotics-and-automation-market.html

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