GCC Security and Surveillance Market

GCC Security and Surveillance Market Overview

Security and surveillance refers to the system used for the prevention of crime in private and public locations. The security and surveillance system consists of interworking components and devices including cameras, IP cameras, digital video recorders, video management software, contactless card reader systems, and biometric systems, among others help to reduce theft and vandalism, enable remote monitoring, and improve safety in residential, commercial and industrial verticals.

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Major GCC Security and Surveillance Market Drivers

Rising private and public infrastructure; growing IT spending and adoption of IoT devices; increasing rate of crimes and data theft; and government initiatives towards increasing security are some of the major factors driving the growth of the market. In addition, increasing Government initiatives, including, Saudi Vision 2030, the Energy Strategy 2050, Qatar National Vision 2030, the Sheikh Zayed Housing Programme, and Dubai Tourism Strategy and Dubai Vision 2021, are further propelling the demand for smart and efficient surveillance system during the forecast period.

Moreover, development of technologically advance devices including smart locks, smart cameras, sensors, live video surveillance system, iris and voice recognition system, drones, and others are expected to contribute to the growth of the market. Furthermore, major ongoing projects including the NEOM city, Orchid Villas Project, Al Faisaliah City, New Jeddah Downtown, Al Noor City, Government Housing Plans, Oman’s Duqm Port, and Kuwait’s Silk City, Gasoline and Aromatics Project (GAP), InterContinental Hotel Project, and DoubleTree Hilton Hotel Project, among others are expected to increase the growth and development of the security and surveillance market in GCC.

Restraint in the GCC Security and Surveillance Market

However, high cost of advanced security and surveillance system including smart cameras and biometric systems is expected to restraint the growth of the market over the forecast period. Additionally, rising concerns towards cyber-attack and data theft may hamper the market growth.

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Type – Segment Analysis

Based on the type, video surveillance systems segment is projected to account for a notable share in the market primarily due to the increasing awareness pertaining safety and security of residential buildings, commercial spaces, ports, transportation infrastructure, banks, educational institutes, public places, and others. Additionally, growing demand for wireless and spy cameras, IP cameras, video management software, and others is further driving the growth of the market.

Application – Segment Analysis

Based on the application, the healthcare segment is expected to grow substantially over the forecast period owing to the increasing government inclination towards the development of healthcare industry in the region. Moreover, according to the Dubai Health Authority, 12 new private hospitals will be opened in Dubai by the year 2020 totalling the number of private hospitals in Dubai to 38. Major healthcare projects including Sultan Qaboos Medical City Complex in Barka, King Faisal Medical City in Asir, King Abdullah Medical City in Bahrain and others are expected to support the demand for advance security and surveillance system over the forecast period.

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Country – Segment Analysis:

Based on the country, Saudi Arabia is anticipated grow notably over the forecast period. This can be attributed to the growing public-private partnerships for the growth of the construction industry and rising spending towards the adoption of IoT, cloud computing, and security services among commercial and residential sectors. Moreover, ongoing development of major projects including Red Sea Islands, Al Faysaliya, King Abdullah’s Economic City, mall of Saudi, Jabal Omar, among others is further expected to support the growth of the security and surveillance market in Saudi Arabia. 

Key Developments: 

• • In 2019, Microsoft Corporation partnered with NXN to launch NXN’s digital transformation platform DNX and its digital services on the Microsoft Azure cloud computing platform for government entities, real estate developers and enterprises across the Middle East. This is expected to provide DNX platform smart district services including smart energy, smart security, smart parking, video surveillance as a service and AI-enabled solutions on Microsoft Azure for driving the digitization of cities.

Segments covered in the Report:

The GCC Security and Surveillance Market has been segmented on the basis of type, application, and country. Based on type, the market is segmented into video surveillance systems, encoders/decoders, access control systems, biometric systems, perimeter intrusion detection systems, and others.  Based on application, the market is segmented into banking & financial, government & transportation, retail & logistics, commercial offices, oil & gas, residential, hospitality, healthcare, and others. Based on country, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait and Rest of GCC. 

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Market Segmentation

GCC Security and Surveillance Market by Type

• • Video Surveillance Systems
  • Encoders/Decoders
  • Access Control Systems
  • Biometric Systems
  • Perimeter Intrusion Detection Systems
  • Others

GCC Security and Surveillance Market by Application

• • Banking & Financial
  • Government & Transportation
  • Retail & Logistics
  • Commercial Offices
  • Oil & Gas
  • Residential
  • Hospitality
  • Healthcare
  • Others

GCC Security and Surveillance Market by Country

• • UAE Security and Surveillance Market All-Up (Option 1: As a part of the free 25% customization)
  • Saudi Arabia Security and Surveillance Market All-Up (Option 2: As a part of the free 25% customization)
  • Oman Security and Surveillance Market All-Up (Option 3: As a part of the free 25% customization)
  • Kuwait Security and Surveillance Market All-Up (Option 4: As a part of the free 25% customization)
  • Rest of GCC Security and Surveillance Market All-Up (Option 4: As a part of the free 25% customization)