Growing construction market, rising public & private infrastructures, surging hospitality & retail sectors coupled with increasing security concerns over growing civil unrest in the Middle-East are some of the key factors driving the market for video surveillance systems in Qatar. Further, the country is expected to emerge as fastest growing video surveillance systems market in the region due to upcoming FIFA World Cup, 2022.
According to 6Wresearch, Qatar video surveillance systems market is projected to register a CAGR of 17% over the next six years. More than $300 billion are expected to be invested to build the infrastructure for the upcoming event. The rising infrastructure would create huge demand for security systems such as video surveillance systems in the country.
According to “Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch,” Qatar video surveillance market observed sharp decline in the overall shipment for analog video surveillance cameras on account of Qatar government regulation to mandate installation of IP surveillance systems at government offices, retail stores, commercial offices, and transportation terminals.
“Furthermore, with anticipated increasing security spending, IT spending and IT infrastructure in the country, deployment of IP video surveillance systems would continue to proliferate in the coming years. Also, Qatar is likely to spend nearly $45 billion in Lusail City project in the years to come, subsequently triggering tremendous demand for security systems” Samuel further added.
According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, projects such as Barwa City, Msheireb Downtown, Valley City, Sharq Crossing, Energy City, Football Stadiums, Pearl Qatar and upcoming hotels are anticipated to drive the installations of video surveillance systems.
Southern region being the largest commercial hub in Qatar held largest revenue share in the overall video surveillance market in Qatar.” Akash concluded.
Some of the major companies in Qatar’s video surveillance market include- Axis Communications, Bosch Security Systems, Honeywell, Pelco by Schneider Electric and Samsung Techwin.
“Qatar’s Video Surveillance Market (2015-2021)” provides in-depth analysis with 54 figures and 24 tables covered in 138 pages. The report estimates and forecast overall Qatar’s video surveillance market by revenue, volume, 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.