The 3rd edition of Intersec Saudi Arabia got underway on 14 April, 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.
The Saudi Market
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 US$8.5 billion in 2018, a five percent increase over the previous year.
By 2025, the market will be worth US$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 US$4.6 billion in 2018. This is followed by information security (US$2.6 billion), commercial security (US$838 million), fire protection (US$273 million), and physical and perimeter protection (US$198 million).
Media Courtesy : GIT Security