Posted On: 2022-02-25
Video Surveillance Camera acquired the largest market revenue share in the Middle East and Africa Video Surveillance Market – 6Wresearch
Middle East and Africa Video Surveillance Market witnessed rapid growth during 2018-19 owing to various government initiatives and infrastructural projects along with rising crime, terrorism, communal violence, and growing government, commercial, and IT infrastructure in the countries. However, due to the outbreak of COVID-19 major construction projects came to a halt, which negatively impacted the demand for surveillance solutions in 2020. Also, most of the projects were delayed on account of lockdown imposition, thus the major companies were facing short-term operational issues due to supply chain constraints and lack of site access. However, the resumption of the construction activities and the rising installation of cameras in public places are anticipated to upsurge the demand for video surveillance in forecast years.
According to 6Wresearch, Middle East and Africa Video Surveillance Market size is projected to grow at a CAGR of 4.1% during 2022-2028. The market is in the growth stage of industry life cycle owing to rising need for homeland security solutions, increasing security needs, expansion of public infrastructure, increasing IT spending, and surging awareness among people to deploy CCTV cameras.
According to Ananya Consul, Research Analyst, 6Wresearch, “Within by components, Video surveillance cameras held the majority share in Middle East and Africa video surveillance market and is expected to maintain its dominance during forecast period as well on account of growing construction market, upcoming new hotels and shopping malls coupled with growing government regulations for compulsory installation of video surveillance systems in public areas as well as increasing inflow of FDI in construction and retail sectors.”
According to Vasudha Kaushik, Research Associate, 6Wresearch, “IP cameras garnered the maximum revenue share in Middle East and Africa video surveillance camera market in 2021 on account of shifting preferences towards IP cameras due to additional advantages that IP cameras offer over their analog counterparts such as IP cameras do not require equipment like encoders and decoders and offer all sort of analytics such as detection of smoke & people count. However, analog has garnered majority volume share in most of the countries owing to their lesser cost. Also, analog camera uses DVR for recording which is easier to set up and the installation is a bit more straightforward.”
Some of the major companies in Middle East and Africa Video Surveillance Market include Axis Communication AB, Bosch group, Avigilon corporation, Pelco corporations, Hanwha corporations, Hangzhou Hikvision Digital Technology Co. Ltd, Honeywell Security Group, Panasonic Corporations, Zhejiang Dahua Technology Co. Ltd, Cisco Systems Inc.
“Middle East and Africa Video Surveillance Market (2022-2028)” report provides an in-depth analysis with 185 figures and 94 tables, covered in 280 pages. The report estimates and forecast the overall Middle East and Africa Video Surveillance Market by components, applications and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.