According to a research report titled ‘Global Security Robots Market 2021-2028’, available with Market Study Report, global security robots market revenue is projected to record a CAGR of 9.35% over the forecast period 2021-2028.
 

Report findings state that intensifying geopolitical instabilities & border conflicts, rising safety concerns, and increasing use of robots in security & surveillance applications for patrolling establishments such as college campuses, shopping malls, parking lots, & other public areas are driving worldwide security robots market growth.
 

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Heavy investments in robotics, coupled with ongoing technological developments in a wide range of sensors and their miniaturization are further enhancing the market remuneration scope. Moreover, increasing preference for autonomous operations, and augmentation of defense & security expenditure in emerging economies are creating several growth opportunities in the market.
 

Despite the positive industry outlook, lack of high-quality & reliable solutions, rising concerns about intrusion to privacy, and rigid regulatory environments in different geographies are likely to impede industry development in the upcoming years.
 

Based on component type, global security robots market is arrayed into sensor, camera, control navigation, and others. By type of robots, the industry segmentation comprises unmanned aerial vehicle, autonomous underwater vehicle, and unmanned ground vehicle. Moving on to application ambit, the business vertical is split into commercial (surveillance & monitoring, patrolling), defense & military, and residential segments.
 

Elaborating on the geographical landscape, Middle East & Africa, North America, Asia Pacific, Europe, and Latin America are major business development zones in the market. Among these, Asia-Pacific industry is projected to be the fastest-evolving market during the forecast period, attributable to sharp rise in demand for both government and commercial security robots, instigated by expanding military budgets and brewing geopolitical tensions among countries in the region
 

For the record, some of the prominent developing economies such as India and China have significantly raised their military budgets, thus creating new investment & growth opportunities for businesses in the regional market.
 

Key contenders in global security robots market sphere are ReconRobotics Inc., RoboteX Inc., QinetiQ Group plc, Cobham Ltd., Boston Dynamics Inc., SMP Robotics Systems Corp., SZ DJI Technology Co. Ltd., Elbit Systems Ltd., BAE Systems plc, Thales S.A., Northrop Grumman Corp., and Lockheed Martin Corp.