SecurityWorldMarket

05/11/2015

UAE security market to grow at CAGR 10.7% to 2021

New Delhi, India

The UAE Electronic Security market is forecast to grow at a CAGR of 10.7% during 2015-21. Government initiatives, increasing investments, rising security & IT spending and growing security concerns are impacting on the adoption of electronic security systems in the country, this is according to analysts from 6Wresearch.

The researchers say that the UAE economy has continued to show growth due to sectors such as construction, financial, retail and hospitality. The construction sector is budding with a large number of government and private projects to create the infrastructure for the upcoming World Expo 2020. The new construction has spurred the market for electronic security systems especially video surveillance and access control systems in the UAE. Further, growing security spending on infrastructure is spurring the growth of the overall electronic security market.

According to “Prijo Samuel Senior Research Analyst, Research and Consulting, 6Wresearch,” in the UAE electronic security market, IP video surveillance systems would continue to contribute majorly to the UAE’s video surveillance system market due to rising IP infrastructure, demand for video analytics and government regulations.

“Amongst vertical markets, government and transportation verticals have accounted for the largest share in the electronic security market owing to the expansion of transportation sector due to metro and airport projects. The demand for electronic security systems in government and transportation verticals should continue to increase in the coming years. The UAE government is likely to spend nearly $10 billion on both physical and digital security by 2017, resulting in the growth for electronic security systems in the country” Samuel further added.

According to Shefali Goel, Research Associate, Research and Consulting, 6Wresearch, " with more than 25 million visitors expected for the World Expo 2020, deployment of hybrid electronic security systems should be exhibited."

"In the access control market, the biometric access control system market share is predicted to increase due to higher reliability and security. Fingerprint based access control systems have controlled the market until now; however, with surging security needs, penetration of iris, face and multi-modal biometrics technologies is anticipated to increase.” Shefali concluded.

Some of the companies identified by the analysts as already active in the UAE Electronic security market include- Axis Communications, Bosch Security Systems, Honeywell, Lenel System, Samsung Techwin, Pelco, Siemens, and Tyco Fire & Safety.

The report - “UAE’s Electronic security Market (2015-2021)” provides in-depth analysis with 48 figures and 21 tables covered in 131 pages. The report estimates and forecasts the overall UAE electronic security market by revenue, by type of electronic security systems and includes verticals such as banking and financials, government and transportation, retail and logistics, commercial offices, industrial and manufacturing, residential, hospitality and healthcare, and education vertical. The report also gives an insight on the competitive landscape, company profiles, market drivers and restraints.


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