‘GCC Region’ a Key Emerging Region in Global Electronic Security Systems Market

Rising public & private infrastructures, increasing investments, government rules & regulations, increasing security spending and host of international events are some of the factors spurring the market for GCC’s electronic security systems (includes video surveillance, access control and intrusion detection systems). The market for electronic security systems in GCC region is dominated by countries such as Saudi Arabia, UAE and Qatar.

According to 6Wresearch, GCC electronic security market touched $495 million in 2015. In GCC electronic security market, Saudi Arabia is the leading revenue contributor, attributed to rapid expansion of public & private infrastructures, increasing government spending, emergence of new industries, growing investments and mandatory rules & regulations.

Though, Saudi Arabia grew significantly in last few years, but declined in the year 2015 due to declining oil prices. Saudi Arabia being oil based economy was adversely affected due to this huge fall of crude oil prices. The same trend is likely to continue in 2016 as well, where market is anticipated to regain its pace post 2017 with the recovery of oil prices.

On the contrary, countries such as UAE and Qatar are expected to grow over the next six years on the back of upcoming mega events such as Dubai World Expo 2020 and FIFA World Cup 2022 in Qatar. To build the infrastructures for these forthcoming events cumulative investments of more than $350 billion would be spent in the areas of metros, airports, hotels, public infrastructures, stadiums, shopping malls, entertainment parks, etc. To secure these infrastructures, various electronic security systems would be deployed, which would further fuel the growth of the market.

In GCC electronic security market, video surveillance segment acquired major share of the market revenues and is expected to maintain its market dominance in the coming years as well. In video surveillance market, IP surveillance is the leading revenue generator due to the presence of expanding IT infrastructure, government mandates, consumer awareness and presence of leading global players in the entire GCC region.

Further, adoption of biometric based access control systems is increasing year on year on account of declining prices and need for advanced security systems. Amongst all biometric technologies, fingerprint based biometric systems have majorly dominated owing to low cost and ease of usage. However, higher growth is anticipated for face and iris technology based biometric systems over the next six years.

GCC electronic security market is largely controlled by European and American market players, but Asian players are also enjoying robust growth across all the six countries.