Robot security guards may sound like something out of a Sci-Fi movie, but they are quickly becoming a necessity in the security guarding space. 

Like many industries in the United States, security guards are in short supply due to the tight labor market.  Additionally, the industry can experience employee turnover rates from 100% to 400% annually. At the same time, violent crime rates in US cities are rising dramatically, making it clear that action is needed to ensure the safety and freedom of the expanding population.

In the newly released 2022 Annual Guarding Report, industry experts dive into ways to combat staff shortages, and most see artificial intelligence (AI) and robotics playing an important role. 

But, it isn’t just additional security guards that are needed, police officers are in high demand as well. In the USA, which now has a population of over 331 million, there are only 660,288 full-time law enforcement officers and just over a million more security guards, or approximately 200 people to every one protector. And several major US cities are experiencing serious staff shortages, especially since law enforcement and security professionals must operate 24/7

Luckily, Autonomous Security Robots (ASR) are already being used in the workforce to help officers fight crime and keep citizens safe. In fact, the global security robots market is estimated to rise from $31.7 billion in 2022 to reach $71.8 billion by 2027, growing at a whopping 17.8% CAGR along the way.

Dubai launched the first robot police officer back in 2017 and several countries have since followed suit, including South Korea, Japan, India and several US states.

In February, the US Department of Homeland Security announced its plans to deploy 100-pound robot dogs to America’s southern border to enhance the manpower of US Customs and Border Protection (CBP). 

San Francisco recently granted its police department the right to use robots to incapacitate or disorient a violent, armed, or dangerous person who presents a life-threatening risk.

Businesses are also taking security matters a step further with the help of autonomous robots. Leading digital financial services company Ally Financial recently partnered with security provider Securitas to deploy robots. Securitas supplies the robots through a company called Knightscope, Inc. (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP).

Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) is a Silicon Valley-based advanced security technology company that develops Autonomous Security Robots (ASRs) that deter, detect, and report using revolutionary technology that has been shown to help fight crime and has the potential to be the largest disruption of public safety in history, bringing us closer to this robot-secured reality.

Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) Driving to Keep America Safe

Since its founding in 2013, Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) has raised over $120 million in funding, attracted 35,000+ investors by the time it listed on the NASDAQ in January 2022, and used four cutting-edge technologies (autonomous self-driving, robotics, artificial intelligence, and electric vehicles) to create its own proprietary tech and roll it out for over 1.8 million hours of field operation to date.

Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) has developed effective countermeasures and future-proof tools to equip domestic law enforcement and private businesses better.

Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) has continued to broaden its customer base with a string of new contracts. Some of Knightscope’s (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) new clients are a global company that makes and sells medical and laboratory supplies, two hotels, a sports complex in New York, a multi-family housing complex in Pennsylvania, and the University of New Jersey, which has a 41-machine contract with Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP).

On December 13, the company announced its largest contract to date as well two new contracts from cities in New York and Georgia. The contracts consist of 12 K5 Autonomous Security Robots (ASRs), two K1 Blue Light Towers and two K1 Call Boxes. Just two days later, Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) announced that ABM (NYSE:ABM), a leading provider of integrated facility services, parking and transportation management solutions, and EV charger installations, has deployed three ASRs at an international airport parking facility in the US. 

Knightscope (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) has also expanded into the fast-growing healthcare sector. On November 30, the company said that its ASR services won five contracts for a total of 22 new machines in the healthcare market in several US states. These wins show that the country’s healthcare providers and patients need and want a safe place to work and get care.

For more information on Knightscope, Inc. (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) and its projects, please visit this link or the company’s website.

SOURCE Knightscope, Inc. (NASDAQ:KSCP)

Featured Image @ Knightscope

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1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.

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