Middle-East region is emerging as key revenue contributing region in global electronic security market. Spurred by rising public & private infrastructures, increasing security & IT spending, government initiatives coupled with terrorism threats have propelled the demand for advanced electronic security systems.
According to 6Wresearch, Middle-East electronic security systems market is projected to grow at a CAGR of 11.8% during 2015-21. In Middle-East region, countries such as Turkey, Saudi Arabia, UAE and Qatar have contributed significantly for the growth of the overall market. Over the next six years, growth can be anticipated in the region due to upcoming World Expo 2020 in UAE and FIFA World Cup 2022 in Qatar.
According to “Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch,” in Middle-East electronic security market, video surveillance systems have controlled major share of the market pie and anticipated to follow a similar trend through the forecast period. Government mandates & initiatives, rising public infrastructures such as railways, airports and metros, increasing consumer awareness and declining prices have led for the growth of video surveillance systems market. Government & transportation vertical is the leading revenue generating vertical in Middle-East region.
“Amongst all Middle-East countries, Qatar is exhibited to grow at relatively higher growth rate due to construction of mega infrastructures for the forthcoming event. Rise in retail, hospitality, entertainment & leisure and government & transportation would be witnessed over the next six years. To provide high level of security, demand for various electronic security systems would surge in the forecast period,” Samuel further added.
According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, access control market is another key growing segment in Middle-East electronic security market. Card based access control systems are the key contributors in the overall market; however, shift towards biometric technology based system is exhibited in the forecast period.
“Upcoming projects in Middle-East such as Riyadh Metro, King Abdullah Economic City in Saudi Arabia, Riyadh Metro, Doha Metro, Dubai Metro, Lusail City in Qatar, construction of new hotels in Saudi Arabia, UAE and Qatar, smart cities project in Turkey, etc., are anticipated to drive the installations of electronic security systems in Middle-East region,” Akash concluded.
Some of the major players in Middle-East electronic security market include- Axis Communications, Bosch Security Systems, Lenel Systems, Honeywell, Pelco by Schneider Electric, Samsung Techwin, Hikvision, HID Corporation, Siemens, IDTECK, and Fingertec.
“Middle-East Electronic Security Market (2015-2021)” provides in-depth analysis with 113 figures and 20 tables covered more than 170 pages. The report estimates and forecast overall Middle-East electronic security market by revenue, volume, type & components of electronic security 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.