Security and Law Enforcement Robots Market to grow by USD 3.69 billion from 2022 to 2027, Easy availability of electronic components to drive the growth- Technavio

NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The security and law enforcement robots market is expected to grow by USD 3.69 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 15.55% during the forecast period. The market is segmented by application (unmanned logistics, border patrolling, bomb detection, and law enforcement), type (security robots and law enforcement robots), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The easy availability of electronic components is a key factor driving market growth. The price of cameras, sensors, cables, microchips, and controllers is falling. There are components available, such as smart sensors able to detect obstacles, bombs, drugs, and other dangers on the robot's path. These robots make extensive use of high-resolution cameras, wheels, and modulators to make them behave like humans. Furthermore, advances in robotics have also initiated the development of high-quality advanced electronic components that are perfectly suited to different types of robots. The total cost of robotic parts can be optimized through easy availability of parts and optimal pricing. Hence, these factors are expected to drive the market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample

Key Highlights:

• The report recognizes the following as some of the key players in the security and law enforcement robots market: AeroVironment Inc., Alterra Robotics Inc., Asylon, Ava Robotics Inc., BAE Systems Plc, Boston Dynamics Inc., Cobalt Robotics Inc., Elbit Systems Ltd., Enova Robotics, FORT Robotics Inc., Knightscope Inc., Lockheed Martin Corp., MI Robotic Pte Ltd., OTSAW Digital Pte Ltd., Singapore Technologies Engineering Ltd., SMP Robotics Systems Corp., SuperDroid Robots Inc., Teledyne Technologies Inc., Thales Group, and rovenso SA
• Security and Law Enforcement Robots Market is fragmented in nature.
• Market to observe 14.24% YOY growth in 2023.

Market Dynamics:

• Rising demand for weaponized security robots is a major trend in the market. 

Significant Challenge

• Promptness to sudden change is a significant challenge restricting market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• In the application segment, the unmanned logistics segment will account for a major share of the market's growth during the forecast period. Unmanned vehicles are used in combat and military defense missions. These robots are autonomous, so they can be placed anywhere to collect the necessary information. The security robot is equipped with a high-resolution camera, infrared detection sensor, and light-emitting diodes (LEDs). They can record a video or take a photo and send it directly to the user through the mobile app. Moreover, it helps them to be able to move in and around the yard. Hence, these factors are expected to drive the segment growth during the forecast period. 

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Related Reports:

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The Machine Vision (MV) market size is estimated to grow at a CAGR of 9.78% between 2022 and 2027. The market size is forecast to increase by USD 7,234.81 million. This report extensively covers market segmentation by end-user (industrial and non-industrial), type (vision system, cameras, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). Significant cost savings in operation due to process control is the key factor driving the growth of the market.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio