A report released on the side-lines of Intersec Saudi Arabia 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 were worth US$8.5 billion in 2018. This is a five-percent increase over the previous year.
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.
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 stabilization 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).
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 per cent international participation, more than 500 brands, and an enlightening three-day conference programme, Intersec Saudi Arabia caters to the growing demand for an integrated platform providing crucial access to one of the world's most promising markets.
Andreas Rex, Show Director of Intersec, said: "Intersec Saudi Arabia is a vital platform bringing together key stakeholders in the Kingdom's security, safety, and fire protection industries. In its 3rd edition in 2019, it is once again at the forefront of the latest technologies and solutions dedicated to meet the demand of the Middle East's largest market."
Intersec Saudi Arabia is held under the patronage of the Saudi Ministry of Interior and supported by the Saudi Civil Defense. It features a three-day security and fire safety conference program operating under the wider theme of 'Safety, Civil Security and Technology: Future Integrated Solutions'.
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Media Courtesy : Security Africa Magazine