- The global surveillance video market is projected to hit $70 billion in revenue by 2026
- A violent crime occurs every 26.2 seconds and a property crime every 4.4 seconds in the United States
- Knightscope looks to tap into this existing opportunity with its Autonomous Security Robots (“ASRs”)
- With an annual subscription of just $4-$9 per hour, the company offers clients significant savings, in addition to increased security using the most advanced surveillance technology with unrivaled efficiency and effectiveness
The United States of America has invested heavily in equipping its troops with the latest and greatest technology. However, first responders have not been afforded the same level of attention and support.
Today, it is estimated that there are over one million security guards in the country, over a million law enforcement professionals, 8000 private security firms, and over 19,000 law enforcement agencies. However, a violent crime occurs every 26.2 seconds, with property crimes occurring every 4.4 seconds. The job of providing security to people and businesses operating in 50 different states currently falls largely on a limited and costly base of human providers (https://ibn.fm/369jW).
With these statistics, there is a need to revisit the security situation, with surveillance representing the critical first step in the overall security process. It is clear that the capacity with the current workforce to offer reliable security surveillance is severely wanting.
However, there is a new and effective solution to this problem. Knightscope (NASDAQ: KSCP) is already blazing the trail in this sector. With its autonomous security solutions, this company is working towards solving critical human resource issues plaguing the security sector, a step toward realizing Knightscope’s stated mission of making the United States the safest country in the world.
The company is a key developer and provider of Autonomous Security Robots (“ASRs”), technology that offers cost-effective 24/7/365 security in places where people study, visit, work, and live. These high-tech security patrolling robots are available to clients on a subscription basis, and its client list already comprises multiple Fortune 1000 companies, public institutions, and commercial business operations, among others.
One of Knightscope’s primary selling points is the cost associated with the products and services it delivers. Its model features an annual subscription that ranges between $4 and $9 per hour. In addition, the service is all-inclusive, allowing clients to focus on their operations, knowing that the security aspect of their work is taken care of by Knightscope (https://ibn.fm/OQLaW).
For comparison, human guarding costs an average of $17.5 an hour, bringing monthly expenses, for a single guard, to $12,775. With Knightscope, business owners’ security expenditure can range between $2,038 to $6,570, coupled with a 0% turnover rate and perks that include, but are not limited to, advanced detection capabilities and increased overall efficiency.
With a single subscription, Knightscope clients enjoy deployment of the ASRs, the technology that comes both with the robots and the company’s security operations center for full communication and control, as well as after-sales services. Clients also get to enjoy unlimited software, firmware, and hardware upgrades, guaranteeing their security operations’ overall effectiveness and efficiency.
It is projected that by 2026, the global surveillance video market will achieve $70 billion in revenue, representing a CAGR of 10.2% over the forecast period (2021-2026). This will be primarily attributed to the growing use of thermal cameras, smart city devices, and the Internet of Things (“IoT”). Knightscope recognizes this opportunity and is positioning itself to capitalize on this growth (https://ibn.fm/yrPiR).
As a company pushing the limits of technology and artificial intelligence in the security space, Knightscope understands better than anybody the potential and the financial opportunity. The company is offering value not just to its clients but also to its shareholders while continuing to make the country safer.
For more information, visit the company’s website at www.Knightscope.com.
NOTE TO INVESTORS: The latest news and updates relating to KSCP are available in the company’s newsroom at https://ibn.fm/KSCP
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