Service Robotics Market Overview
The Service Robotics Market is expected to show a high CAGR of 15% and a market value of about USD 20 billion by the end of the forecasted period from 2016 to 2022.
Security robots are self-contained mobile robots that are designed to provide enhanced intelligent video surveillance solutions as well as other on-board AI features processing. The introduction of robotics as a service (RaaS), as well as the increasing installation of Smart security systems for diverse commercial applications in diverse commercial sectors, has resulted in the Security Robots Industry being driven.
Furthermore, the massive defines investment to accelerate advanced unmanned ground vehicle solutions across military forces as a result of the global geopolitical crisis is regarded as a significant opportunity in this Service Robotics market. The increased adoption of autonomous location tracking, improved firefighting controller systems, and other surveillance appliances are some of the key factors driving market growth. Security robots provide the highest degree of stability, and the evolution of security devices such as modular portals, sensors, and artificial intelligence is eliminating labor risk, which is helping to drive advancement and, as a result, driving the Service robotics market growth.
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Competitive Landscape
Which Top Market Participants are Consider for the highest Service Robotics market share?
The research segments the market based on product type, applications and end-use. It profiles the key players of the business and discusses investments, business ventures, mergers, acquisitions, collaborations along with the technological developments in the industry. The report gives a competitive analysis by evaluating the market position of the companies. It also examines the upcoming and niche areas in the business. The researcher aims to provide insights into the trends observed in the industry and the sectors that exhibit the most growth prospects.
Furthermore, an increase in spending on security precautions by various organizations, as well as increased awareness about secure premises, are expected to fuel the market during the forecasted period. Certain restrictions and difficulties can stifle market expansion. Market restraints are likely to be factors such as the higher cost of security robots and strict regulatory environments in different regions.
The market is being driven by the increasing applications of security robots in the defense and military sectors. Due to increased geopolitical tensions and terrorism, there has been a significant increase in government spending aimed at strengthening the army, navy, and air force capabilities.
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Service Robotics Market Segmentation
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Regional Classification
North America dominated the security industrial robot market in 2015 and is expected to continue to do so between 2016 and 2022. Between 2016 and 2022, the APAC market is expected to grow at the fastest CAGR. The increased investment by China, India, and Japan in strengthening monitoring and weapon guidelines capabilities, as well as increased military spending to combat terrorist attacks, infiltration, illegal immigration, and criminal activities, is the primary driver for the APAC market.
Industry News
DJI Zenmuse P1 and DJI Zenmuse L1 payload solutions for its flagship commercial drone platform Matrice 300 RTK were unveiled at INTERGEO, destined to serve the most demanding aerial land survey operations.
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Service Robotics Market Information By Type (Domestic, Professional), End-User (Healthcare, Defense, Electronics, Automotive, Transportation, Construction, Supply & Logistics, Media & Entertainment) and Region – Forecast 2027
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