Security Robots Market size is expected to be worth around USD 6.28 Bn by 2032 from USD 2.56 Bn in 2022, growing at a CAGR of 9.4% during the forecast period from 2023 to 2032.
The global security robots market is expected to reach up to USD 6.2 billion by 2025, increasing at a CAGR of 8.5% during the forecast period of 2019-2025. The security robots market is gaining momentum due to technological advancements in robot fabrication, rising concerns for public safety and security, and the rising trend of automation. Furthermore, the increasing trend of exploring newer technologies in the defense sector will further drive the growth of the security robots market.
The security robots market is classified on the basis of component, application, and region. Based on the component, the market is segmented into hardware, software, and services. The hardware segment is further divided into cameras, sensors, frames, navigation systems, batteries, and others. The software segment is sub-segmented into on-board software, off-board software, and visualization software. The service segment is further categorized into consulting, training development, maintenance, and managed services.
Application-wise, the security robots market is divided into spying, border security, explosive detection, patrolling, surveillance and others. The patrolling segment is expected to grow at a significant rate during the forecast period owing to the increasing importance of patrolling to maintain public safety. The border security segment is anticipated to grow at a substantial rate due to the rising need for border surveillance and patrolling. Furthermore, the explosive detection segment is projected to grow at a significant rate owing to the increasing number of security threats and terrorist activities across the globe.
Geographically, the security robots market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. North America and Europe are projected to hold the largest market share during the forecast period owing to significant investments in security robots by defense security agencies and the presence of key players in the region. Furthermore, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period owing to the rising investments in security robots by emerging economies such as China and India.
The security robots market is characterized by the presence of several key players such as AeroVironment Inc., Cobalt Robotics, Knightscope Inc., Lockheed Martin, and SMP Robotics, among others. These key players are involved in strategies such as partnerships, collaborations, and acquisitions to expand their market presence.
