Government of KSA and UAE made it compulsory for any building of 4 or more floors to install at least 4 IP surveillance cameras, this law has boosted the demand for IP surveillance cameras with increasing infrastructure growth in the region.
According to Ken Research report titled “Middle East Electronic Security Market Outlook to 2022 – By Monitoring and Surveillance (CCTV, Access Control and Intruder Detection), Restricted Entry Systems (Traffic Barriers, Turnstiles, Detectors, Automated Gates, Traffic Bollards)”, smart homes and commercial infrastructure are two markets which will drive the growth of electronic security market in the near future. The government is looking to diversify from traditional oil and gas business to other sectors in order to immune its economy against backlash suffered due to volatility in oil prices. New technologies such as Internet of Things and artificial intelligence have a wide application in the sector, although Middle East is yet to stride in this area as advanced technologies is limited to few projects in the market which is expected to grow by manifold in the near future.
How is the Middle East Electronic Security Market Positioned
The market for electronic security is still in growing phase in all major countries of the region. The Electronic security market witnessed a positive CAGR in the past five years (2012-2017). The growth was mainly driven by implementation and amendments of regulatory norms to push the use of electronic security by the government due to increasing security concerns. Technological innovations and increased focus on infrastructure development has also resulted in increase in demand of electronic security. The market witnessed entry of few new players which has altered the competitive landscape in the last few years.
Infrastructure Growth to Achieve the Vision for Future and Global Events is the Key Drivers for Demand
Heavy investments in infrastructure projects will drive the growth in central region which comprises of countries that are outpacing other countries in terms of infrastructural growth. Smart city projects across the Middle East are another factors driving demand of electronic security equipments. Saudi Vision 2030, Dubai Expo 2020, Kuwait Vision 2035, Turkey Vision 2023, UAE Vision 2021, Fifa World Cup 2022 are some key plan which has substantially boosted the demand for smart and digitized control of security leading to increased demand for electronic security equipments.
Competition in the Market
The market mainly constitutes of manufacturers and system integrators which operate in a highly competitive market. The market is divided by the type of security systems such as monitoring and surveillance systems and restricted entry systems which is further segmented on the type of equipments. Competition is intense in CCTV market due to its large size and variety of products on offer. The market dynamics of both the system types seems to be governed mostly by government regulation.
The market is primarily driven by video monitoring surveillance which acquired the majority of the market share. The market will primarily grow due to requirements of surveillance cameras which have been made compulsion by the government in various countries. Among the regions central and northern region will drive majority of demand from the market in the future. Southern region is one region whose growth will surpass others in the entire Middle East.
Keywords Covered in this report:-
Electronic Security Industry Middle East
Electronic Security Market In UAE
Turkey Electronic Security Market
UAE Electronic Security Revenue
Video Surveillance System Market GCC
Walkthrough Metal Detectors Middle East
Passenger Baggage Detectors Market
Turnstiles And E-Gates Market
Automation Systems Gates Market
Automation Systems Doors Market,
Automation Systems Shutters Market
Honeywell Electronic Security Middle East
AI Middle East Electronic Security
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Ankur Gupta, Head Marketing & Communications