Video Surveillance System Market Captured a Major Share
UAE economy continued to show growth due to sectors such as construction, financial, retail and hospitality. Construction sector is budding with the large number of government and private projects to build 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 UAE.
Further, growing security spending on infrastructure is spurring the growth of the overall electronic security market.
According to 6Wresearch, UAE’s 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 for the adoption of electronic security systems in the country.
According to “Prijo Samuel Senior Research Analyst, Research and Consulting, 6Wresearch,” in UAE electronic security market, IP video surveillance system 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 vertical has accounted for the largest share in the electronic security market owing to expansion of transportation sector due to metro and airport projects. The demand for electronic security systems in government and transportation vertical would continue to increase in the coming years. 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 would be exhibited.
In the access control market, biometric access control system market share would increase due to higher reliability and security. Fingerprint based access control systems have controlled the market; however, with surging security needs, penetration of iris, face and multi-modal biometrics technologies is anticipated to increase.” Shefali concluded.
Some of the companies in UAE’s Electronic security market include- Axis Communication, Bosch Security Systems, Honeywell, Lenel System, Samsung Techwin, Pelco, Siemens, and Tyco Fire & Safety.
“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 forecast overall UAE’s electronic security market by revenue, by type of electronic security systems and 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 the insights on competitive landscape, company profiles, market drivers and restraints.