Security Robots Market - Set for Rapid Growth and Trend by 2025
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According to TMR, the global security robots market is likely to reach US$3,881.4 mn by the end of 2025, from US$1,862.1 mn, which was its valuation in 2016. Considering these figures deem correct, the global security robots market will exhibit an impressive 8.9% CAGR between 2017 and 2025. Regionally, North America accounted for the dominant 30% of the global market in 2016. In addition, the Europe security robot market is likely to boast strong growth during the course of the forecast period. Among the key industries, the demand from defense & aerospace segment was the highest. It held nearly 24.2% of the global market in 2016.
Rising Demand from Diverse Sectors to Boost Growth
While the key application of security robots remains in the defense sector, the market is likely to witness gradual progression in the firefighting, oil and gas, rescue operations, patrolling and surveillance and other sectors. In addition, their escalating use in border patrolling, law enforcement, and homeland security will enable the market report accelerated gain. Security robots offer great quality and reliability, thus, efficiently playing its part as an unmanned solution for military and defense sectors. Security robots boast futuristic designs, which enable them to be put into diverse uses. This will enable the global security robots market gain immensely from the rising application of the technology in the near future.
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Ongoing Geopolitical Concerns may Boost Application of Security Robots Worldwide
The ongoing geopolitical conflicts and instabilities such as unrest in Syria, recent incidents of gun violence in the US, and drug war in Mexico will stoke the uptake of unmanned solutions, subsequently boosting the global security robots market. Moreover, with companies investing in innovations, the market is projected to witness promising growth in the coming years. For instance, a start-up called Knightscope has launched a life-sized robot that can patrol and monitor in college campuses, corporate houses, malls, and school. However, there is still a huge scope for improvement in this segment. For instance, the innovation of humanoid can prove to be of remarkable use in the defense sector. With several technological advancements underway, the global security robots market is likely to witness strong growth in the coming years.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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