ALBANY, New York, January 22, 2019
ALBANY, New York, January 22, 2019 /PRNewswire/ --
Transparency Market Research (TMR) notes that the global security robots market is categorized by the presence of several large and small players operating in it. The rivalry between the potential players is likely to increase as they aim at adopting various strategies to offer enhanced security.
Among multiple strategies adopted by players in the global security robots market to stay ahead of the competition, investment toward security robots to enrich consumer experience has paid off the most. The global security robots market is expected to grow steadily due to the existence of potential large players who are investing in research and development activities. Some of the leading players in the global security robots market are Boston Dynamics, Liquid Robotics, Northrop Grumman Corporation, SMP Robotics Systems, and Knight Scope.
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The TMR report projects the global security robots market to register a promising CAGR of 8.9% from 2017 to 2025. By the end of 2025, the market will be worth US$3,881.4 mn.
Out of the various key industries of security robots service, the demand from defense and aerospace sector is expected to remain high in the next few years as they want autonomous and smart security and surveillance appliances for their safety purpose. Region wise, North America is expected to lead the global security robots market in the coming years. This is attributed to increased technological investments in the region.
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Increasing Geopolitical Concerns Stoke Demand in Global Security Robots Market
Security robots are widely adopted in sectors such as oil and gas, defense, firefighting, patrolling and surveillance, and rescue operations. These robots offers great reliability and quality, thus considered as an efficient solution for military sectors. Rising demand for homeland security, and rapid technological advancements in a wide range of miniaturization and sensors are factors driving the global security robots market. Security robots can collect data for security purposes. They can obtain data through a set of different sensors such as radars, cameras, infrared devices, and thermal sensors. The incorporation of automation capabilities and sensor technologies make the robots useful in various practical applications and improve their functionality.
Security robots are widely utilized for their ability to enter directly into dangerous areas including unfamiliar territories, to deactivate bombs, and for handling the perilous objects. Using these robots for performing risky tasks help humans to save their lives from unpredictable hazards. Such properties are responsible for fueling demand in the global security robots market. Along with these, rising incidences of geopolitical conflicts and instabilities such as drug war in Mexico, unrest in Syria, and growing terrorist attacks are boosting demand in the global security robots market.
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High Cost of Security Robot Systems Hinder Global Security Robots Market Growth
A few challenges hindering the growth of the global security robots market are higher cost of ownership and production of security robot systems, and lack of training in the security industry. Nonetheless, companies are expected to use low cost materials for deploying security robots in different applications. After addressing all these concerns, most of challenges could decrease in the near future.
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The review is based on a market research report by TMR, titled, "Security Robots Market (Component - Hardware, Software and Services; Environment - Indoor and Outdoor; Type - Ground Robots and Aerial Robots; Application - Demining, Explosive Detection, Fire Fighting, Patrolling & Surveillance, Rescuing Operations, and Spying; Industry Vertical - Chemical & Mining, Defense & Aerospace, Entertainment & Leisure Venues, and Oil & Gas, Manufacturing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025".
The global security robots market is segmented based on:
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