UAE video surveillance market has witnessed a modest growth rate during 2018-19 owing to several government initiatives such as Dubai Smart City Initiative, National Plan 2020 and Vision 2021. Additionally, several infrastructural projects such as the Dubai Metro, Abu Dhabi metro, construction of new retail malls and number of residential and commercial projects are in pipeline under these initiatives, boding well with the growing demand for installation of video surveillance in these facilities during the forecast period.
According to 6Wresearch, UAE video surveillance market is expected to grow at a CAGR of 4.0% during 2019-25. Growing public infrastructure, increasing IT spending as well as booming construction sector would propel the growth of video surveillance market over the next six years. Further, increasing awareness among people as well as commercial enterprises regarding safety of their premises is also a contributing factor behind the growth of video surveillance market in the country.
According to Gurbani Kaur, Research Analyst, Research and Consulting, 6Wresearch, amongst IP and analog type of video surveillance, IP video surveillance accounted for majority of the revenue share in the in 2018 and the same trend is expected to continue during the forecast period due to shift in consumer preference from analog to IP video surveillance as the latter provides better video quality along with superior storage capacity.
Moreover, the government and transportation vertical held majority of the share in the UAE video surveillance market in 2018 and is anticipated to maintain its dominance due to strict government regulations on account of increasing safety concerns as well as upcoming projects in the transportation sector such as Dubai Metro, Abu Dhabi Metro and the expansion of the Dubai Airport.
According to Alpana Tyagi, Research Associate, Research and Consulting, 6Wresearch, "Dubai has remained a major market for video surveillance systems due to certain infrastructural development projects undertaken in the city in preparation for the World Expo 2020.
However, the video surveillance market revenues for the Abu Dhabi region are expected to grow at a faster rate throughout the forecast period as compared the Dubai owing to the rapidly growing tourism sector in the city along with upcoming infrastructure development projects in Abu Dhabi," Alpana concluded.
Some of the key players in UAE video surveillance market include: Axis Communications, Avigilon Corporation, Hanwha Techwin, Robert Bosch, Dahua Technology, Hikvision, Honeywell, Pelco and CP Plus.
"UAE Video Surveillance Market (2019-2025)" provides an in-depth analysis with 57 figures and 14 tables covered in more than 125 pages. The report estimates and forecast the overall UAE Video Surveillance market by revenues, by types, applications and regions including Dubai, Abu Dhabi and the rest of UAE. The report also offer insights on market ranking by companies, company profiles, market drivers, restraints, and recommendations.