Two New Knightscope K5 Deployments in Self Storage

Rhea-AI Summary

Knightscope, a leader in robotics and AI for public safety, has announced the deployment of two new K5 Autonomous Security Robots (ASRs) at a fast-growing self-storage company in California. The K5 ASRs will enhance security and act as brand ambassadors by broadcasting helpful messages. The client is evaluating the success of these deployments for potential expansion to other locations. The global self-storage market, valued at $54 billion in 2022, is expected to grow to $83.6 billion by 2027 at a CAGR of 7.53%, with 90% of inventory in the U.S. Enhanced safety measures at these facilities can maximize occupancy and increase revenue per square foot.

Positive

• Deployment of new K5 ASRs in high-density, urban self-storage locations in California.
• Potential for expanded deployments across other client locations based on initial success.
• Enhanced security measures can lead to higher occupancy and increased revenue per square foot in self-storage facilities.

Negative

• None.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), an innovator in robotics and artificial intelligence (“AI”) technologies focused on public safety, today announces two new K5 Autonomous Security Robot (“ASR”) deployments for a self-storage company known to be one of the fastest-growing self-storage platforms in the United States with assets located primarily in high-density, urban markets.

Two New Knightscope K5 Deployments in Self Storage (Graphic: Business Wire)

Knightscope’s K5 ASRs are now patrolling two of the client’s California storage locations to help mitigate risk and elevate the protection offered to tenants and their belongings. In addition to their security duties, the robots will broadcast helpful messages to passersby and act as brand ambassadors. The client is eagerly waiting to gauge the success of these initial deployments as they consider deployments at many other store locations.

According to industry analysts, the global self-storage market was valued at $54 billion in 2022. Projections show growth at a CAGR of 7.53% with an expected market value of $83.6 billion by 2027 with 90 percent of worldwide self-storage inventory is in the U.S. Safety at these facilities is one of the primary marketing tools and, if upgraded beyond competitors, affords owners the ability to maximize occupancy while increasing revenue per square foot.

Get Expert Help

To learn more about Knightscope’s new Risk & Threat Exposure Analysts or any of its Autonomous Security Robot, Blue Light Emergency Communication System or Automated Gunshot Detection Services, book a discovery call or demonstration today at www.knightscope.com/discover.

About Knightscope

Knightscope builds cutting-edge technologies to improve public safety, and our long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Forward-looking statements contained in this press release and other communications include, but are not limited to, statements about the Company’s goals, profitability, growth, prospects, reduction of expenses, and outlook. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from such forward-looking statements, including the factors discussed under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2023, as updated by its other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240626136610/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Source: Knightscope, Inc.

FAQ

What are Knightscope's new K5 deployments in self-storage?

Knightscope has deployed two new K5 Autonomous Security Robots at a fast-growing self-storage company in California to enhance security and act as brand ambassadors.

When did Knightscope announce the new K5 deployments in self-storage?

Knightscope announced the new K5 deployments on June 26, 2024.

What is the potential market growth for the self-storage industry?

The global self-storage market is projected to grow from $54 billion in 2022 to $83.6 billion by 2027, at a CAGR of 7.53%.

How will the new K5 ASRs benefit the self-storage company?

The K5 ASRs will enhance security, mitigate risks, and serve as brand ambassadors, potentially leading to higher occupancy and increased revenue per square foot.

What percentage of global self-storage inventory is in the U.S.?

90 percent of worldwide self-storage inventory is located in the U.S.