Market Trends of Security Robot Industry
The Commercial Segment is Expected to Hold a Significant Share
- Commercial businesses can raise their degree of security and get significant financial advantages by using patrol robots instead of security guards. Since patrol robots are stationed in secured areas around the clock, they are more effective than security officers. They are equipped with a 360-degree intelligent video surveillance system that can recognize individuals, and their internal analytics system can forecast when potentially dangerous scenarios may occur.
- Security robots can perform a wide range of functions in and around the commercial industry in addition to basic patrolling duties, as is to be expected. Many robots can now be equipped with a variety of sensors, including ultrasonic and LiDAR ones, as the IoT (Internet of Things) continues to develop and advance. This allows them to identify more anomalies, particularly in risky or hazardous circumstances. These sensors make it possible to do more than just prevent crime.
- With their contour-based natural navigation capabilities, the robots can also be employed indoors, such as in offices, small enterprises, malls, factories, and airports. Due to their numerous applications in a variety of industries, including workplaces and hospitals, indoor robots are becoming increasingly popular. Companies in the industry are creating unique robotic systems for certain applications since robots have the ability to provide a variety of safety-related and economic benefits.
- In order to help security experts discover potential threats swiftly and covertly, robots are also increasingly being developed to be capable of recognizing people and license plates, helping with identity, providing customer services, and two-way emergency contact.
- Moreover, other retail centers, like the Phoenix Shopping Center in the United States, Park Central Mall in the United States, Yas Mall in Abu Dhabi, and others, have used robots. Robots are becoming more popular and used in malls and other structures not only to lessen risks but also to maintain efficient operations. This implies that security robots are playing an increasingly important role in society. As a result, the market is expanding due to the quick acceptance of security robots in commercial applications.
- For instance, in November 2023, Knightscope Inc. announced the addition of two contracts for its K5 Autonomous Security Robot (K5 ASR), including commercial properties and another casino expansion, as part of a larger master agreement that brought Knightscope Technology to 43 properties nationwide. The casino in Lake Charles, Louisiana, and the corporate campus in North Hollywood, California, are expected to have a K5 ASR patrolling their respective locations.
- Furthermore, according to IFR, the United States has, by far, the largest number of professional service robot manufacturers, dwarfing the combined number of China and Germany, the two next competitors. All of the leading countries have a healthy number of startups focusing on robotics compared to incumbent and existing companies.
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North America Accounts for the Largest Market Share
- North America is among the leading innovators and pioneers in terms of the adoption of robotics and is one of the largest markets. The primary reason for the growth of the market is the increasing adoption of security robots across numerous industries.
- The assessment of Canada and the United States is part of the market growth analysis for security robots in North America. Due to their dependability and quality, unmanned solutions are widely used by US security and surveillance services. There have been more terrorist attacks and ongoing armed confrontations in public venues like schools. Security robots are becoming increasingly necessary due to such territorial disputes and geopolitical instability.
- As a result of technological advancements in different industries brought about by the advent of machine learning, computer vision, and robotics, the security and facility management paradigm is changing in the United States. Robots are more than just a jumble of sensors and calculations. They are fundamental machines that can connect to the entire world and provide both innovation and flexibility. They are designed to traverse populated areas safely without coming across as threatening or terrifying, which promotes cultural acceptance.
- Raising defense spending in North America would fuel the escalation of interest in security robots. Nations worldwide are using cutting-edge technology to defend their borders against underwater threats. The risks posed by pirates, terrorists, and sailors generating issues across marine and land boundaries have escalated in the contemporary global context. This leads to concerns about revenue trafficking in the nation. Weapons and ammunition, handguns, drugs, and human trafficking are common threats in the region. So, it seems acceptable to expand defense spending globally in an effort to stop these atrocities.
- For instance, in April 2023, Knightscope Inc., a security robot developer, had a pilot contract with the New York City Police Department to deploy its K5 robot to help police patrol Manhattan. The city will also use robots from Boston Dynamics as part of its push to better use technology to bolster security efforts.
- Furthermore, several players in the country are focusing on expanding their offerings, further supporting the market growth. For instance, in February 2024, OTSAW Digital Inc. announced a strategic collaboration with TEAM 1ST Technologies LLC to make a significant step toward bringing leading-edge systems to US businesses. This partnership aims to leverage their collective knowledge, experience, and resources to drive innovation and create breakthrough solutions that will profoundly impact industries and people's lives.
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