Technology
February 8, 2021

DUBLIN–(BUSINESS WIRE)–The “Global Security Robots Market 2021-2028” report has been added to ResearchAndMarkets.com’s offering.

After analyzing the global security robots market in detail, the author has concluded that this industry is likely to display an upward trend, with a CAGR of 9.35% in terms of revenue in the forecasting years between 2021 and 2028.

Robots are increasingly being used in security and surveillance applications. They are steadily making their way into the surveillance market, for purposes like patrolling shopping malls, college campuses, parking lots, and other public areas. Recent technological developments in a broad range of sensors and their miniaturization, as well as a rise in investments in these robots, are driving growth in the studied market.

However, the rising concerns about intrusion to privacy, the rigid nature of regulations, and the lack of availability of high-quality and reliable solutions are hampering the development of this part. However, on the bright side, growth in automation and an increase in defense and security expenditure in developing economies are creating lucrative growth avenues.

The global market for security robots spans across Europe, the Asia-Pacific, the Middle East and Africa, North America, and Latin America.

The Asia-Pacific region is expected to become the fastest-growing market for security robots, globally. It is one of the most lucrative markets worldwide. The region has witnessed a rise in the demand for both commercial as well as government security robots. The reasons for the rise in demand are the geopolitical tensions among nations and a rise in their military budgets. For instance, some of the prominent economies of the region, like China and India, have significantly raised their military budgets. This is creating new opportunities for players wanting to invest in this market. Such factors are driving the growth of the security robots market in the APAC.

Market Dynamics

Drivers
  • Increasing Usage of Robots in Security and Surveillance Applications
  • Rising Safety Concerns
  • Increasing Conflicts at Borders and Geopolitical Instabilities
Restraints
  • Rising Concern About Privacy Intrusion
  • Rigid Regulatory Environment in Different Regions
  • Lack of Development of High-Quality and Reliable Solutions
Opportunities
  • Rising Trend of Autonomous Operations
  • Increase in Defense and Security Spending by the Developing Economies

Companies Mentioned

  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Thales Sa
  • Bae Systems plc
  • Elbit Systems Limited
  • Leonardo Spa
  • Aerovironment Inc
  • Knight Scope
  • DJI
  • SMP Robotics
  • Boston Dynamics Inc
  • Cobham plc
  • Qinetiq Group plc
  • Robotex Inc
  • Recon Robotics Inc

For more information about this report visit https://www.researchandmarkets.com/r/n3inji