Middle East countries are oil rich countries and in the past few
years have significantly diversified their economy to other sectors such
as retail, hospitality and others. Growing expat population, tourists,
investment in infrastructure, retail and hospitality sector were the key
users of electronic security devices. Government and Industry were the
major consumers of high end technologically advanced products which are
generally sold at higher premium. In 2011 market was estimated at USD ~
million and increased to an estimated at USD ~ million in 2016
registering a five year CAGR of ~%. Rise in demand for facility
management, improving government regulations, growing hospitality sector
and improved banking/ATM penetration were the key sectors that lead the
growth.
Turkey was the largest market for electronic security devices and CCTV was the most demanded electronic security device in the Middle East region. Honeywell, Bosch, Axis Communication are the key companies operating in the Middle East region. Many Chinese companies such as Hikvision and Dahua which are very price competitive have also entered the Middle East market. System integrators and consultants play a very key role in the region as it is mandatory to have the equipments installed by government registered system integrators. Currently, no major company has manufacturing unit and setting up a manufacturing unit in Middle East will help in gaining more market as more products can be developed as per needs of local requirements.
Market Segmentation By Major Countries
Turkey was the largest market for electronic security devices in the Middle East region with market share of ~% in 2016. In 2016, its revenue from sale of electronic devices was estimated at USD ~ million which had increased from USD ~ million in 2011. It was followed by Saudi Arabia which toppled UAE to gain the second position in terms of revenue generation from sale of electronic devices. Strong real estate development in Riyadh and Jeddah, growth in number of private schools, preschools, kindergarten and demand from hospitality sector along with higher disposable income of people augmented the demand for electronic security equipments. UAE was the third largest market followed by Qatar. Other countries contributed remaining ~% of the market share.
Market Segmentation By Major Countries
The service consultants for electronic security products provide consulting on sourcing and installation of surveillance systems, access control systems, fire alarm/fire fighting systems, intruder alarm systems, and other security products. The role of security consultant initiates with assessing the security needs of client and presenting the findings (based upon the needs) to the client. The service consultant during this process ensures to maintain quality and service benchmark that has been promised. There are several companies in the domain which provides consulting services to different sectors in electronic security market.
Uae Electronic Security Market Major Platers
Honeywell was the ~ player in UAE electronic security market with market share of ~% on the basis of revenue (~ million) in 2016. Bosch was the second largest player in UAE electronic security market and offers range of products to cater the end to end solution. Tyco, Pelco and Siemens along with Hikvision, Axis and Dahua are some other key players
Saudi Arabia Electronic Security Market Size
Market for electronic security devices increased from USD ~ million in 2011 to USD ~ million in 2016. Jeddah, Riyadh and the adjoining areas was the most important market for electronic security devices in the country due to huge volume of commercial and real estate development. Other factors promoting growth in demand were Hajj, the annual Islamic pilgrimage to Mecca, increased numbers of people spending their time in malls. The Ministry of Interior in Saudi Arabia made it compulsory for all businesses to have surveillance cameras installed in their premises to protect against theft related crimes. Military and security services comprised ~% of the budget expenditure in 2016 which had risen over the years leading to increased demand for electronic security equipments.
For more information about the publication, refer to below link
https://www.kenresearch.com/defense-and-security/security-devices/middle-east-electronic-security-market/92199-16.html
Related Reports
India Electronic Security Industry Potential to 2020 - Growing System Integrators Market with Real Estate Development in Upcoming Smart Cities
China Electronic Security Market Outlook to 2019 - Public Infrastructure Spending and Innovations to Drive the Future
Malaysia Electronic Security Equipment Industry Outlook to 2018 - Increasing Demand for CCTV Cameras to Spur Growth
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Turkey was the largest market for electronic security devices and CCTV was the most demanded electronic security device in the Middle East region. Honeywell, Bosch, Axis Communication are the key companies operating in the Middle East region. Many Chinese companies such as Hikvision and Dahua which are very price competitive have also entered the Middle East market. System integrators and consultants play a very key role in the region as it is mandatory to have the equipments installed by government registered system integrators. Currently, no major company has manufacturing unit and setting up a manufacturing unit in Middle East will help in gaining more market as more products can be developed as per needs of local requirements.
Market Segmentation By Major Countries
Turkey was the largest market for electronic security devices in the Middle East region with market share of ~% in 2016. In 2016, its revenue from sale of electronic devices was estimated at USD ~ million which had increased from USD ~ million in 2011. It was followed by Saudi Arabia which toppled UAE to gain the second position in terms of revenue generation from sale of electronic devices. Strong real estate development in Riyadh and Jeddah, growth in number of private schools, preschools, kindergarten and demand from hospitality sector along with higher disposable income of people augmented the demand for electronic security equipments. UAE was the third largest market followed by Qatar. Other countries contributed remaining ~% of the market share.
Market Segmentation By Major Countries
The service consultants for electronic security products provide consulting on sourcing and installation of surveillance systems, access control systems, fire alarm/fire fighting systems, intruder alarm systems, and other security products. The role of security consultant initiates with assessing the security needs of client and presenting the findings (based upon the needs) to the client. The service consultant during this process ensures to maintain quality and service benchmark that has been promised. There are several companies in the domain which provides consulting services to different sectors in electronic security market.
Uae Electronic Security Market Major Platers
Honeywell was the ~ player in UAE electronic security market with market share of ~% on the basis of revenue (~ million) in 2016. Bosch was the second largest player in UAE electronic security market and offers range of products to cater the end to end solution. Tyco, Pelco and Siemens along with Hikvision, Axis and Dahua are some other key players
Saudi Arabia Electronic Security Market Size
Market for electronic security devices increased from USD ~ million in 2011 to USD ~ million in 2016. Jeddah, Riyadh and the adjoining areas was the most important market for electronic security devices in the country due to huge volume of commercial and real estate development. Other factors promoting growth in demand were Hajj, the annual Islamic pilgrimage to Mecca, increased numbers of people spending their time in malls. The Ministry of Interior in Saudi Arabia made it compulsory for all businesses to have surveillance cameras installed in their premises to protect against theft related crimes. Military and security services comprised ~% of the budget expenditure in 2016 which had risen over the years leading to increased demand for electronic security equipments.
For more information about the publication, refer to below link
https://www.kenresearch.com/defense-and-security/security-devices/middle-east-electronic-security-market/92199-16.html
Related Reports
India Electronic Security Industry Potential to 2020 - Growing System Integrators Market with Real Estate Development in Upcoming Smart Cities
China Electronic Security Market Outlook to 2019 - Public Infrastructure Spending and Innovations to Drive the Future
Malaysia Electronic Security Equipment Industry Outlook to 2018 - Increasing Demand for CCTV Cameras to Spur Growth
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
No comments:
Post a Comment