According to new research, the global security robots market size was valued at $27.32 billion in 2021 and is expected to surpass $116.44 billion by 2030.
The findings, from Polaris Market Research, say that the market will rise at a compound annual growth rate (CAGR) of 17.65% during the forecast period.
Security robots are technological devices capable of performing various tasks earlier done by humans. They can incorporate artificial intelligence (AI), streaming video and other connected technologies to perform certain duties, assisting in monitoring and investigating surveillance areas.
The report says that growing demand for these robots and rising penetration of advanced automation techniques across the world are anticipated to drive the security robots market size over the forecast period.
Some of the key companies in this market highlighted by the report include Lockheed Martin, Thales Group, Northrop Grumman, Hyundai Motor, Cobham Limited and Endeavor Robotics.