Iran video surveillance market was one of the most potential markets in Middle-East region sharply declined after the imposition of US sanctions. In 2011, the market recorded double digit growth rate, however during 2012-13, the market fell rapidly. Devaluation of Iranian currency and slowdown in the economy majorly affected the demand for video surveillance systems. Further, due to weak Iranian currency, the prices of video surveillance systems increased sharply, which affected the penetration of these in the country.
According to 6Wresearch, Iran’s Video Surveillance Market is anticipated to grow at a CAGR of 9% during 2015-21. After 2014, the market is all set to bounce back due to expected removal of US sanctions and recovery of the economy. Also, increasing criminal activities, government mandates and infrastructure development in the areas such as government & transportation, retail and hospitality would fuel the market for video surveillance systems over the next six years.
According to Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch,” IP video surveillance market captured major share of the market pie owing to rising IT infrastructure, government regulation, affordable IP cameras, and higher ROI”.
“Further, Government of Iran has mandated the installation of video surveillance systems across various verticals primarily banking & financial and government & transportation preferably IP video surveillance systems in order to prevent major security threats in the country.” Rajat further added.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, “Amongst all verticals, commercial offices vertical is witnessing shift in trend from analog to IP video surveillance systems, which is shaping substantial market opportunity in Small Medium Enterprises segment.”
“In the recent years, several Chinese video surveillance players have entered the country, which are offering both analog and IP surveillance systems. Hikvision and Dahua are the key Chinese players in Iran’s video surveillance market. Also, these are providing economical HD analog video surveillance cameras, which is boosting higher priced analog surveillance camera segment,” Samuel concluded.
The major companies in Iran’s video surveillance market include- Avigilon Corporation, Axis Communications, Bosch Security Systems, Dahua, Hikvision, Mobotix, Panasonic, Samsung, Sony and Vivotek.
“Iran Video Surveillance Market (2015-2021)” provides in-depth analysis with 89 figures and 30 tables covered in more than 130 pages. The report estimates and forecast overall Iran video surveillance market by revenue, by types & components of video surveillance systems and verticals such as banking & financial, government & transportation, commercial offices, retail & logistics, industrial & manufacturing, residential, hospitality & healthcare and educational institutions. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.