ME Security Market Industry growth Explained

Business Chief Middle East takes a closer look at the growing commercial security market.

In a report conducted by 6W Research on behalf of Intersec,  the commercial security market is predicted to be worth US$8.4bn by 2025 in the Middle East. This prediction shows a 16% compound annual growth rate.

The research highlights that the drive in growth is a result of increased development of infrastructure and strict regulatory policies. Which in turn is fueling the demand for hi-tech innovations, coming from Saudi Arabia (29.9%), the UAE (24.7%), Qatar (10.2%) and Kuwait (7.2%).

Commenting on the research Terracom S.A. notes that key innovations influencing the sector include:

  • Cloud computing
  • Artificial intelligence
  • Smart technology

Terracom S.A. is also developing its own innovation to drive regional industry growth. in particular a QR-Patrol cloud/mobile platform which facilitates real time management for patrol guards, something that has been a limitation for the industry till now. The platform “allows companies to monitor their premises and equipment and safeguard their lone workers,” explains Dimitrios Zacharakis, Terracom’s CEO. “QR-Patrol’s design and functionality is based on Terracom’s long experience in security software and adopts the business logic of a Central Monitoring Station. It’s the first application worldwide to incorporate in its arsenal Internet-of-Things technologies such as beacons and wearables.”

Intersec plans to launch its forum again in 2020 -  the Intersec Intelligence Forums 2020 - with future security needs being top of the agenda.

“The Intersec Future Security Summit will track the sector’s transformation and experts can analyse critical security threats, examine security loopholes in business ecosystems and discuss how cutting-edge technologies can be tailored to meet evolving security requirements,” said Andreas Rex, Show Director at Messe Frankfurt Middle East. “As the first Intersec of the new decade, it’s appropriate to dig deep into the dynamics of the smart technology, including AI and ICT, which will inform how we are all kept safe in the workplace of the future.”

Media Courtesy : Business Chief