The 3rd edition of Intersec Saudi Arabia got underway today, with 111 exhibitors from 20 countries zooming in on the Middle East's largest commercial security and fire safety market. Running for three days at the Jeddah Centre for Forum and Events, Saudi's foremost security, safety, and fire protection trade show targets the Kingdom's vast market which is estimated to grow at an annual compound growth rate of 7.7 percent over the next seven years. It was opened yesterday in a pre-show ceremony by Lt. Gen. Sulaiman Al-Amr, the director-general of Saudi Arabia's General Directorate of Civil Defense.
A report released on the side-lines of the show by consultancy firm 6WResearch said the total spend on Saudi's commercial security, information security, homeland security and policing, physical and perimeter protection, and fire safety markets was worth $8.5 billion in 2018, a five percent increase over the previous year. By 2025, the market will be worth $14.4 billion, driven by a combination of increased investments in infrastructure in line with the Saudi Vision 2030, the stabilisation of oil prices, and the government's ongoing economic diversification plans.
According to 6WResearch, homeland security and policing currently holds the lion's share of Saudi's market spend, at $4.6 billion in 2018. This is followed by information security ($2.6 billion), commercial security ($838 million), fire protection ($273 million), and physical and perimeter protection ($198 million). The impressive opportunities are underlined by a long list of leading manufacturers and suppliers this week in the Red Sea port city, spearheaded by the show's launch partners eager to boost business opportunities.
Hikvision, the world's largest video surveillance provider, is among these, and is putting the spotlight on its latest suite of technologies, much of which is powered by Artificial Intelligence and machine learning. Others include Al Alameya, Axis Communications, Bristol, Drager, Genetec, NAFFCO, Nedap, and ZMR. With 69 percent international participation, more than 500 brands, and an enlightening three-day conference programme, Intersec Saudi Arabia caters to growing demand for an integrated platform providing crucial access to one of the world's most promising markets.
Media Courtesy : Construction Business News || Arabian Reseller || Security Informed