IP Video Surveillance Systems Poised to Rise in Middle-East Video Surveillance Market – 6Wresearch
Middle-East video surveillance market growth is buoyed by several factors such as growing construction market, rising security concerns over increasing crime rates & terrorist threats, surging security & IT spending. In Middle-East video surveillance market, Turkey, Saudi Arabia, UAE and Qatar held majority of the revenues and are the leading countries to adopt IP technology based surveillance systems. Adoption of IP video surveillance systems is witnessed on account of government regulations, declining prices, growing consumer awareness, remote accessibility and video analytics.
According to 6Wresearch, Middle-East video surveillance market is forecast to reach nearly $1.8 billion by 2021. In 2012, video surveillance systems market in Middle-East region recorded sluggish growth due to civil unrest, decline in oil prices and depreciating dollar value. However, in 2013, the market recovered due to rise in investments and growth in infrastructures.
According to “Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch,” Increasing penetration of IP surveillance systems over analog surveillance systems is one of the major trends witnessed in the region. Growing IT infrastructure, entry of new players and surging public & private infrastructures are the prime factors for the growth of IP video surveillance systems market.
“Additionally, with the increasing demand for IP based video surveillance systems, market for Pan-Tilt-Zoom (PTZ) HD surveillance cameras and wireless surveillance systems would increase especially in government and transportation application,” Rajat further added.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, World Expo 2020 in UAE and FIFA World Cup 2022 in Qatar are regarded as key events, which would spur the market for video surveillance systems in government & transportation, retail, and hospitality applications.
Also, with the rise of IP video surveillance systems in the Middle-East region, need for video analytics software is exhibited to increase owing to growing demand for criminal identifications, analyzing live feeds and report any unwanted activity, ” Samuel concluded.
Some of the key players in Middle-East video surveillance market include- Axis Communications, Bosch Security Systems, Pelco by Schneider Electric, Honeywell, Hikvision, and Samsung Techwin.
“Middle-East Video Surveillance Market (2015-2021)” provides in-depth analysis with 85 figures and 38 tables covered in nearly 140 pages. The report estimates and forecast overall Middle-East video surveillance market by revenue, volume, types & components, applications such as banking & financial, government & transportation, commercial offices, retail & logistics, industrial & manufacturing, residential, hospitality & healthcare and educational institutions and countries like Turkey, Saudi Arabia, UAE, Qatar, Kuwait and others. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market trends, market drivers and restraints.