The transportation segment is expected to acquire a major revenue share in the Saudi Arabia Security and Surveillance Market - 6Wresearch
Increasing concerns about public safety and security, rising demand for wireless and spy cameras, upcoming trends of artificial intelligence coupled with increasing smart city projects are expected to augment the security and surveillance market growth. Furthermore, public places such as railway stations, bus stands and public transport are highly prone to terrorist attacks and thefts would spur the need for installation of security and surveillance systems to provide a secured environment.
According to 6Wresearch, Saudi Arabia Security and Surveillance Market size is projected to grow at a CAGR of 4.1% during 2020–2026. The security and surveillance market would experience a setback due to the lockdown imposed by the government to curb the coronavirus spread. The closure of all business operations amid lockdown is likely to hamper the manufacturing of security and surveillance systems and people would refrain from buying the non-essential products during lockdown thereby, hampering the security and surveillance system market growth during 2020. However, the Saudi Arabian government started to invest heavily in video surveillance systems due to increasing focus toward improving infrastructure and city surveillance. Furthermore, Saudi Arabia’s Ministry of Housing aims to increase the national homeownership rate by 70% in 2030 involving the construction of 500,000 housing units would increase the installation of the security and surveillance system in the country.
According to Prateek Gupta, Senior Research Analyst, 6Wresearch, “On the basis of application, transportation segment is expected to witness tremendous growth due to the increased adoption of security and surveillance systems on locations such as airports, railway stations and ports for preventing intrusions and illegal activities. Moreover, the security systems enable monitoring of valuable goods in transit with the help of network cameras installed on mobile devices which accounts for another reason accelerating the security and surveillance market growth in the transportation segment.”
According to Akansha Chopra, Research Associate, 6Wresearch, “On the basis of types, perimeter intrusion detection systems segment is expected to acquire a major share due to increasing cross border terrorism and illegal activities including smuggling would have a positive impact on the perimeter intrusion detection systems market growth. Additionally, the perimeter intrusion system is used to manage and connect various peripheral components such as alarms, sensors, motion detectors, locks, and doors among others acting as another key factor attributing to the market growth.
Some of the major companies in the Saudi Arabia Security and Surveillance Market include Johnson Controls, Robert Bosch Middle East FZE, Axis Communications AB, and others.
“Saudi Arabia Security and Surveillance Market (2020-2026)" report provides an in-depth analysis with 64 figures and 24 tables covered in more than 115 pages. The report estimates and forecasts the overall Saudi Arabia Security and Surveillance Market by types and applications. 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.
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