LONDON–(BUSINESS WIRE)–The new security and law enforcement robots market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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“One of the primary growth drivers for this market is the easy availability of electronic components”, says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the security and law enforcement robot market size to grow by USD 2.50 billion during the period 2020-2024.
Security and Law Enforcement Robots Market Segment Highlights for 2020
- The security and law enforcement robot market is expected to post a year-over-year growth rate of 11.30%.
- Based on the application, the unmanned logistics segment led the global security and law enforcement robot market in 2019.
- The market growth in the unmanned logistics segment is driven by the ability of security and law enforcement robots to work in any location to gather the required information.
- 37% of the growth will originate from the North America region.
- The growth of the security and law enforcement robot market in North America is driven by the increased incidences related to homeland security and community dissent of law enforcement in border areas and civil societies.
- The US is the key market for security and law enforcement robots in North America. Market growth in this region will be slower than the growth of the market in APAC and MEA.
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- The security and law enforcement robot market size is expected to accelerate at a CAGR of about 19% during the forecast period.
- The security and law enforcement robot market is segmented by Application (Unmanned logistics and Law enforcement) and Geography (North America, Europe, APAC, MEA, and South America).
- The market is concentrated due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including Boston Dynamics Inc., Cobalt Robotics Inc., FLIR Systems Inc., Knightscope Inc., Kongsberg Gruppen ASA, Lockheed Martin Corp., Northrop Grumman Corp., Percepto, SMP Robotics Systems Corp., and SuperDroid Robots Inc.
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