Security Robots Market Size, Business Statistics and Research Methodology by Demand, Share, Business Growth, Top Key Players Update, Forecast to 2027


Posted February 1, 2023 by avinashgogawale14

The Security Robots Market is anticipated to develop at a CAGR of 17.8% from 2022 to 2027, from a projected value of USD 31.7 billion in 2022 to USD 71.8 billion by 2027.
 
The Security Robots Market is estimated to be USD 31.7 billion in 2022 and is projected to reach USD 71.8 billion by 2027; it is expected to grow at a CAGR of 17.8% 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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Key Players:

The Security Robots Market is dominated by a few globally established players such as Emerson (US), ABB (Sweden), Schneider Electric (France), Yokogawa (Japan), and Endress+Hauser (Switzerland).

Rising defense spending of countries worldwide related to boost of Security Robots Market

Countries across the world are using forefront technologies to safeguard their borders against underwater threats. In the present global scenario, there has been an increase in threats from pirates, terrorists, and seafarers creating trouble across marine borders. According to the UN, in 2019, an average of 580 ships traversed the ~2,800-kilometer coastline of South Africa, resulting in growing transnational crimes at sea. This, in turn, negatively impacted the revenue of the country, as well as led to the smuggling of small arms, light weapons, and drugs, along with human trafficking. Bringing these crimes under control has led to a significant increase in defense spending worldwide.

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Development and incorporation of advanced technologies in UUVs

The limited battery life of UUVs necessitates human interference for charging purposes. Nickel-metal hydride (NiMH) batteries used in UUVs have a slower degradation rate and less leakage probability at the time of accidents than Li-ion batteries. This leads to the increased use of NiMH batteries in high-speed UUVs. The onboard sensors used in UUVs improve their capability to carry electronic equipment for imaging and monitoring applications. They also reduce the power consumption rate of onboard electronics. For instance, WiBotic (US) offers underwater wireless power and battery intelligence solutions.

Asia Pacific held the largest share of the hydraulics market in 2021

The Security Robots Market size in Asia Pacific held the largest share of the Security Robots Market in 2021. The major factors driving the growth of the security robots market in the region are increasing defense spending by countries such as Australia, South Korea, and India, while Japan’s spending remained steady. Vietnam, which has had tensions with China over territorial disputes in the South China Sea, increased its military expenditure. Asia Pacific is one of the potential markets for unmanned vehicles as countries such as China, India, Japan, Australia, and South Korea, among others are actively focusing on strengthening their military systems.

News Covered:

https://www.prnewswire.com/news-releases/security-robots-market-worth-89-6-billion-by-2027--exclusive-report-by-marketsandmarkets-301565622.html

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Last Updated February 1, 2023