Escalating demand for IP cameras, in addition to increasing penetration of video analytics software, witnessed productive growth in Kuwait video surveillance market. Further, expanding construction activities, terrorist threats, coupled with increasing country’s IT spending, buoyed the overall growth of electronic security market in Kuwait. Kuwait is also exhibiting construction of three new cities, subsequently increasing the demand for electronic security systems, predominantly video surveillance systems, along with network access control systems.
According to 6Wresearch, Kuwait video surveillance market is estimated to register growth of 5% in 2015. Citing security concerns over rising terrorist threats, increasing IP infrastructure, construction of various public infrastructures, in conjunction with hospitality and retail sectors are driving the growth of the market.
According to “Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch,” Kuwait video surveillance market beheld sharp decline in the overall shipment for analog video surveillance cameras, on account of increasing penetration of IP technology; IP video surveillance cameras accounted for dominating demand from commercial sector.
“Furthermore, demand for IP video surveillance systems to continue to proliferate in the coming years, owing to construction of three new cities. Kuwait likely to spend nearly $90-100 billion on the upcoming Silk City (Madinat Al-Hareer) project, subsequently triggering the growth for IP technology based surveillance security systems” Samuel further added.
According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, Kuwait video surveillance market is witnessing growing trend on hybrid video surveillance solutions and emergence of smart homes, resulting a steep increase in network electronic security solutions.
Al-Kuwayt governorate region being the largest commercial hub in Kuwait, held largest revenue share in the overall video surveillance market in Kuwait, followed by Al-Farwaniya and others.” Akash concluded.
Some of the companies in Kuwait’s video surveillance market include- Axis Communications, Bosch Security Systems, Hikvision, Honeywell, Pelco by Schneider Electric and Samsung Techwin.
“Kuwait’s Video Surveillance Market (2015-2021)” provides in-depth analysis with 66 figures and 24 tables covered in 114 pages. The report estimates and forecast overall Kuwait’s video surveillance market by revenue, by volume, by type & 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.