GCC Security and Surveillance Market Research Report

GCC Security and Surveillance Market:

Growth opportunities in the GCC security and surveillance market look promising over the next six years. This is mainly due to the increasing rate of crimes and data theft, growing private and public infrastructure, and adoption of IoT devices.

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GCC Security and Surveillance Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

Some of the factors stimulating the growth of the GCC security and surveillance market include the augmenting public and private infrastructure, surging IT spending along with the acquisition of IoT devices, growing rate of data theft and crimes, and strategic government initiatives towards raising security. Also, the favorable government initiatives include the Energy Strategy 2050, the Sheikh Zayed Housing Programme, Qatar National Vision 2030, Dubai Tourism Strategy and Dubai Vision 2021, the Sheikh Zayed Housing Programme, and Saudi Vision 2030 will further strengthen the GCC security and surveillance market demand.

The expansion in technologically advanced devices like a live video surveillance system, smart locks, drones, iris and voice recognition system, sensors, live video, and smart cameras will further drive the market growth. Also, many continuing projects like Orchid Villas Project, New Jeddah Downtown, Gasoline, and Aromatics Project (GAP), Government Housing Plans, Al Faisaliah City, Kuwait's Silk City, Oman's Duqm Port, InterContinental Hotel Project, Al Noor City, and NEOM city, will further fuel the market growth. However, the massive cost associated with advanced security and surveillance system, which include smart cameras and biometric systems, will curb the GCC security and surveillance market size. Moreover, the growing consciousness towards cyber-attack and data theft may constrain the GCC security and surveillance market growth.

Application Segment Drivers

Based on the application, healthcare is projected to witness a higher CAGR over the forecast period. This is owing to the rising government propensity for the development of the healthcare industry. The Dubai Health Authority announced the opening of 12 new private hospitals by the year 2020, totaling the number of private hospitals to 38. The major healthcare projects, including Sultan Qaboos Medical City Complex in Barka, King Abdullah Medical City in Bahrain, and King Faisal Medical City in Asir, will further promote the market growth.

GCC Security and Surveillance Market Segmentation:

Segmentation by Type:

· Video Surveillance Systems

· Encoders/Decoders

· Access Control Systems

· Biometric Systems

· Perimeter Intrusion Detection Systems

· Others

Segmentation by Application:

· Banking & Financial

· Government & Transportation

· Retail & Logistics

· Commercial Offices

· Oil & Gas

· Residential

· Hospitality

· Healthcare

· Others

Segmentation by Country:

· UAE

· Saudi Arabia

· Oman

· Kuwait

· Rest of GCC

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