Security Robots Market Analysis, Size, Share, Growth, Trends, and Forecast by 2031

The security robots market size is projected to reach US$ 169.26 billion by 2031 from US$ 43.53 billion in 2023. The market is expected to register a CAGR of 18.50% during 2023–2031. The improvements in automation and sensor technology are likely to remain key trends in the market.

Security Robots Market Analysis

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. One of the key benefits of using security robots is the increased security level. Their ongoing monitoring and rapid response times help dissuade possible attacks, resulting in a safer atmosphere for businesses and employees.

Security Robots Market Overview

A security robot is an autonomous machine driven by artificial intelligence that watches and defends a specified area or premises. Unlike typical security people, these robots use sensors, cameras, and smart algorithms to identify and respond to possible threats. They can travel a variety of terrains and situations, making them adaptable and capable of patrolling both interior and outdoor areas. One of the key benefits of using security robots is the increased security level. Their ongoing monitoring and rapid response times help dissuade possible attacks, resulting in a safer atmosphere for businesses and employees.

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Security Robots Market: Strategic Insights

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Security Robots Market Drivers and Opportunities

Rising Defense Spending to Favor Market

The expansion of the security robots market is determined by rising defense spending in various areas. For instance, according to newly released estimates from the Stockholm International Peace Research Institute (SIPRI), the United States' defense spending will account for approximately 40% of all military expenditures worldwide in 2023. Between 2022 and 2023, US defense spending grew by US$ 55 billion, owing in part to more military aid supplied to help Ukraine in its protracted struggle. The United States invests more in defense than the following nine countries combined.

Technological Advancements

Technological improvements, particularly in sensor technology and automation capabilities, have significantly affected the employment of security robots in a variety of applications. These advances have made security robots more efficient and capable of completing a wide range of jobs, resulting in their greater acceptance in many sectors. Robotics advancements seek to promote human-robot collaboration rather than completely replacing human jobs. Robots excel at activities that demand accuracy and physical power, but humans possess unique abilities such as empathy, creativity, judgment, critical thinking, and the capacity to rely on past experiences.

Security Robots Market Report Segmentation Analysis

Key segments that contributed to the derivation of the security robots market analysis are product type, end-use, and vertical.

• Based on product type, the market is segmented by unmanned aerial vehicles, unmanned ground vehicles, and unmanned ground vehicles. The unmanned aerial vehicles segment dominated the market share in 2023.
• Based on end-use, the market is segmented into spying, explosive detection, firefighting, demining, rescue operations, and others. The explosive detection segment held the largest share of the market in 2023.
• Based on vertical, the market is segmented into manufacturing, healthcare, transportation & logistics, commercial, military, it, and others. The manufacturing segment held the largest share of the market in 2023.

Security Robots Market Share Analysis by Geography

The geographic scope of the security robots market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific dominated the market in 2023. 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 Asia Pacific security robots market is growing because of increased defense spending in nations such as Australia, South Korea, and India. Defense spending has both good and bad consequences on the economy, and it accounts for a major portion of worldwide military expenditure. Territorial disputes and geopolitical instability have driven up demand for security robots in the Asia Pacific area.

Security Robots Market Regional Insights

The regional trends and factors influencing the Security Robots Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Security Robots Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Security Robots Market Report Scope

Security Robots Market Players Density: Understanding Its Impact on Business Dynamics

The Security Robots Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Security Robots Market are:

1. ?Aerovironment, Inc.
2. Cobham PLC
3. Elbit Systems
4. ENDEAVOR ROBOTICS
5. Knightscope, Inc.
6. Kongsberg Maritime

Disclaimer: The companies listed above are not ranked in any particular order.

Security Robots Market News and Recent Developments

The security robots market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the security robots market are listed below:

• SU Group Holdings Limited, a Hong Kong-based integrated security engineering services firm, said today that it has formed a cooperation with SquareDog Robotics, Ltd., a Hong Kong-based technology company specializing in robotic automation. SU Group and SquareDog Robotics want to collaborate on developing a fully AI-enabled robotic security patrolling system capable of completely or partially replacing manual patrolling in offices, buildings, construction sites, and other locations.  (Source: SU Group Holdings Limited, Press Release, May 2024)

Security Robots Market Report Coverage and Deliverables

The “Security Robots Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Security Robots market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Security Robots market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Security Robots market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Security Robots market
• Detailed company profiles