SecurityWorldMarket

15/03/2017

GCC video surveillance market ready to bounce back

Delhi, India

According to 6wresearch, the GCC Video Surveillance Market is expected to grow at a CAGR of about 10% during 2017-23.

Though, governments have mandated compulsory installation of video surveillance systems throughout various GCC countries, the market registered decline in demand in last two years. This was predominantly due to falling oil prices which impacted overall government spending towards various infrastructure projects. However, the market is all set to bounce back majorly post 2017 with expected improvement in oil prices along with projected flow of investments primarily for upcoming international events such as World Expo 2020 in UAE and FIFA World Cup 2022 in Qatar.

According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6wresearch, “The IP video surveillance segment captured major revenue share of the market. Growing demand for high quality cameras, increasing IT infrastructure, need for remote monitoring and declining prices of IP video surveillance systems have led for its market growth in the region.”

“Further, the GCC market is one of the potential markets for video surveillance software on account of increasing adoption of IP video surveillance systems in government & transportation vertical. In video surveillance software market, video management software accounted for the largest market demand” Samuel further added.

According to Shefali Goel, Research Analyst, Research and Consulting, 6wresearch, “Government and transportation accounted for highest revenue share followed by commercial offices, retail verticals, and others. The GCC region is witnessing significant infrastructure development activities in commercial sector. Additionally, increasing construction projects pertaining to residential vertical would further stimulate the growth of the market in forecast period.”

“Saudi Arabia and the UAE accounted for the majority of the revenue share in the GCC video surveillance market; however, the Qatar market is anticipated to register a significant growth rate due to the FIFA World Cup 2022,” Shefali concluded.

The major companies in the GCC video surveillance market include- Avigilon Corporation, Axis Communication, Bosch Security System, Dahua Technology, Hikvision, Hanwha Techwin, Honeywell Security, Panasonic Corporation, and Pelco.

“GCC Video Surveillance Market (2017-2023)” provides in-depth analysis with 207 figures and 35 tables covered in more than 280 pages. The report estimates and forecast the overall GCC Video Surveillance market by revenue, by types, by countries and by verticals. The report also gives insights on competitive landscape, market share by companies, companies bench marking, company profiles, market drivers and restraints."


Tags

Business News

Photo courtesy of University of Nottingham

University takes initiative in pilot biometrics scheme

in September the University of Nottingham will launch a pilot, using fingerprint technology for student registration at compulsory lectures and exams – 40 fingerprint units and 15 USB enrollment readers will be installed. The fingerprint identification readers are developed by TBS and are fully integrated with Nedap’s AEOS, the university’s current physical access control system. Hunter Communications Services is responsible for the implementation.

Business News

Cyber security vulnerability check list advises on best practice

Farpointe Data has just posted the first radio frequency identification(RFID) Cybersecurity Vulnerability Checklist for access control manufacturers, distributors, integrators and end users to use to protect their access control systems from becoming hacker gateways to their facilities and IT systems. Knowing what to do is especially important now that government agencies, such as the United States Federal Trade Commission, have begun filing lawsuits against businesses that do not provide good cybersecurity practices.

Business News

IoT Security Market worth $29.02 billion by 2022

According to a new market research report on the Internet of Things (IoT) Security Market to 2022, the market is expected to grow from USD 6.62 billion in 2017 to USD 29.02 billion by 2022. The report from Marketsandmarkets covers major IoT security types, such as network security, endpoint security, application security, cloud security, and others. Increasing ransom ware attacks on IoT systems, securing ubiquitous environment, and increasing need for data centric security are the major drivers for the growth of IoT security market.

Product Suppliers
Back to top