Northbrook, IL 60062 -- (SBWIRE) -- 06/15/2022 -- Security robots are autonomous robotic systems designed to perform their tasks without human intervention. The security robots market was valued at USD 33.7 billion in 2021 and is projected to reach USD 89.6 billion by 2027; it is expected to grow at a CAGR of 17.7% from 2022 to 2027.
The major drivers of the market include the growing adoption of security robots for commercial and residential applications, rising emphasis on security at national or regional levels, increasing investments and spending on defense by countries globally, and surging demand for autonomous systems that make real-time monitoring smarter.
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Based on type, the security robots market has been segmented based on type into unmanned aerial vehicles, unmanned ground vehicles, and unmanned underwater vehicles. An unmanned vehicle can perform missions autonomously without any human intervention. It is equipped with necessary communication systems, sensors, data processing units, and automatic control systems. Unprecedented situational awareness, precision targeting, communications relay delivery for fighting, and overcoming threats are a few of the main advantages of using unmanned systems as security robots. The US army and NATO alliances use these UAVs against the terrorist outfits in Syria, Libya, Iraq, and Afghanistan among others. Also, several Asian countries such as India, China, and Pakistan among others are procuring armed drones to strengthen their border security.
The security robots market, based on end user, is divided into military & defense, residential, commercial, and others. Security robots are used for defense-related surveillance and reconnaissance operations, anti-submarine warfare, ocean floor mapping, water sample testing, and inspections of oil & gas pipelines. The technology employed in security robots is not yet mature enough for use in commercial applications. Countries across the world have started acknowledging the potential significance of security robots for military & defense applications, resulting in increasing military research and funding for the development of new and advanced security robots, thus boosting the adoption of security robots in the military & defense end-use applications.
The security robots market is segmented into four regions, North America, Europe, Asia Pacific, and Rest of the World (RoW). The growth of the security robots market can be attributed to rapid developments and advancements in military & defense as well as residential, and commercial end-use industries. With the rapid advancement in these end-use industries across the regions, the security robots market in these regions is expected to boost rapidly in the coming years. In 2021, North America held the largest share of the security robots market with only the US capturing almost 25% of the overall market. The strong military and defense infrastructure in North American countries such as the US and Canada is driving the security robots market in the region. However, the rising defense budget in the developing countries of Asia Pacific is a major factor contributing to the growth of the security robots in this region.