According to Future Market Insights’ newly released security robots market analysis report, global security robots market sales in 2022 were valued at US$ 2.7 billion. With a 6% predicted growth rate from 2023 to 2033, the market is expected to be worth US$ 5.2 billion by 2033.
The market is predicted to be driven by rising security spending by various organizations, as well as improved awareness regarding safe premises, over the forecasted period.
Security robots are increasingly being used in retail malls, workplaces, and public locations. While these robots are often portrayed as benign patrol robots that would eventually replace human security guards, they collect significantly more data than humans, hinting that they are more akin to security mobile robots than regular security guards.
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Many businesses around the globe have gradually adopted these technologies. Studies estimate that worldwide demand for security robots such as UGV security, AUV security, and UAV security might grow significantly over the next five years. Asset, property, and personal protection are among their applications, as surveillance and intrusion detection.
Security robots provide advantages such as cost reductions and increased employee specialization in security management. Also, to improve surveillance and security operations, many security robot businesses are testing self-driving robots.
Key Takeaways
- Security robots hardware is forecasted to be the significantly growing revenue-generating segment, with a 5.5% CAGR from 2023 to 2033.
- The market expanded at a 5.6% CAGR during the last five years.
- North America is expected to account for 46% of the worldwide Security Robots Market.
- From 2023 to 2033, the hardware segment is expected to develop at a notable CAGR of more than 5.5%.
- China is predicted to have a significant market share of US$ 490 million by the end of 2033.
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Competitive Landscape
The main producers of security robots are investing in new launches, collaborations, mergers and acquisitions, and expansions to acquire a competitive advantage in the sector.
- In August 2022, the Hyundai Motor Group announced the formation of the Boston Dynamics AI Institute. The effort, which spent US$ 400 million, aimed to achieve fundamental innovations in AI, robotics, and intelligent technology. The institute is going to focus on addressing the pressing challenges in the creation of advanced robotics as a research-first organization.
In March 2022, Halodi Robotics signed a contract with ADT Commercial, the most prominent supplier of commercial security, fire, life security, and risk consultancy services in the United States, to deliver 140 humanoid robots
Market Segments Covered in Security Robots Market Analysis
By Component:
- Security Robot Hardware
- Security Robot Software
- Security Robot Services
By Environment:
- Indoor
- Outdoor
By Type:
- Ground Robots
- Aerial Robots
- Marine Robots
By Application:
- Demining
- Explosive Detection
- Fire Fighting
- Patrolling & Surveillance
- Rescuing Operations
- Spying
- Others
By Industry Vertical:
- Chemical & Mining
- Defence & Aerospace
- Entertainment & Leisure Venues
- Oil & Gas
- Logistics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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