Security Robots Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Security Robots Market covers analysis by Product Type (Unmanned Aerial Vehicles, Unmanned Ground Vehicles, and Unmanned Ground Vehicles), End-use (Spying, Explosive Detection, Firefighting, Demining, Rescue Operations, and Others), Vertical (Manufacturing, Healthcare, Transportation & Logistics, Commercial, Military, IT, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPTE100000417
  • Category : Electronics and Semiconductor
  • Status : Upcoming
  • No. of Pages : 150
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The security robots market is expected to grow from US$ 31 billion in 2021; it is expected to register  at a compound annual growth rate (CAGR) of 18.5% from 2022 to 2028.

Security robots are autonomous surveillance devices that possess cameras on wheels and patrol assigned areas. These robots assist the security guards by alerting them of intrusion. A security robot uses an integrated robotic voice to alert security personnel and communicate with other security robots in assigned areas.

The demand for security robots is increasing due to security concerns and the rising penetration of automation techniques. Further, companies in the value chain, which are constantly developing advanced security solutions that are capable of replacing human intervention, and the decline in the average cost of security robots are expected to boost the security robots market growth.

MARKET DYNAMICS
The market growth of security robots is attributed to the increasing defense expenditure in emerging economies; procurement of robots for commercial and civil areas; and development of autonomous and AI-enabled security robots for military, defense, and commercial purposes. Further, advancements in regulations for using drones and the advent of unmanned underwater vehicles are a few other factors contributing to the demand for security robots, which is boosting the growth of the security robots market.

MARKET SCOPE
The “Global Security Robots Market Analysis to 2028” report aims to provide an overview of the security robots with detailed market segmentation based on product type, end-use, and vertical. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.

Strategic Insights

MARKET SEGMENTATION
The global security robots market is segmented into product type, end-use, and vertical. Based on component, the market is segmented into unmanned aerial vehicles, unmanned ground vehicles, and unmanned ground vehicles. Based on end-use, the security robots market is categorized into spying, explosive detection, firefighting, demining, rescue operations, and others. Based on vertical, the security robots market is segmented into manufacturing, healthcare, transportation & logistics, commercial, military, IT, and others.


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REGIONAL FRAMEWORK
The global security robots market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers analysis and forecast of 18 countries across the world, along with trends and opportunities prevailing across the mentioned regions.

APAC dominated the security robots market with more than 30% share in 2021. The region witnessed the presence of a large number of security robot providers; rising expenditure on defense and military; and increasing real estate industry in Singapore, India, China, Vietnam, and many other countries are driving the demand for deploying security robots. Additionally, the inclination toward the procurement of unmanned aerial vehicles (UAVs)/drones for border security purposes is also creating a lucrative demand for security robots.

The below figure showcases the revenue growth trend of the global security robots market:

Security Robots Market

Source: The Insight Partners Analysis

The report analyzes factors affecting, such as drivers, restraints, opportunities, and future trends, which impact the security robots market. It also provides an exhaustive PEST analysis of the factors affecting the security robots market.

IMPACT OF COVID-19 PANDEMIC

The onset of the COVID-19 pandemic has positively impacted the demand for security robots. The security robots were deployed in various countries under different restrictions imposed by governments of various countries to curb the spread of COVID-19. Increasing use of autonomous robots has enhanced the efficiency of security guards and technical personnel and reduced the risk of contracting COVID-19. During the pandemic, the lack of security personnel in commercial areas such as airports and manufacturing industries has created a necessity for normal operation, which is being met by the implementation of security robots. Moreover, the use of technologies such as human face recognition, anti-COVID mask detection, the pursuit of an intruder, and remote creation and programming of robot patrol routes are a few of the features that increased the adoption of security robots during the pandemic and recovery phase.

World Geography

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MARKET PLAYERS

The report covers key developments in the security robots market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. The market players operating in the security robots market are anticipated to experience lucrative growth opportunities in the coming years with the rising demand for security robots.

The report includes the profiles of key security robots companies, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key developments in the past five years. The list of a few companies engaged in the security robots market is mentioned below.

  • Aerovironment, Inc.
  • Cobham PLC
  • Elbit Systems
  • ENDEAVOR ROBOTICS
  • Knightscope, Inc.
  • Kongsberg Maritime
  • Lockheed Martin Corp.
  • Qinetiq Group PLC
  • Recon Robotics
  • Thales SA

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.


Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, End-use, and Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

  • Aerovironment, Inc.
  • Cobham PLC
  • Elbit Systems
  • ENDEAVOR ROBOTICS
  • .Knightscope, Inc.
  • Kongsberg Maritime
  • Lockheed Martin Corp.
  • Qinetiq Group PLC
  • Recon Robotics
  • Thales SA

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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