The
market for electronic security was
still in its infancy stage in many Middle East countries which attracted many
global players to establish their offices in the region. Axis communication
opened its first office in 2013 in the region.
Government
continued to remain the major contributor in the real estate sector,
participation by government was both through direct lending through outside
market mechanism and participation of government through state controlled
banking system. This helped the market to recover faster than expected;
creating demand for electronic security devices in the real estate sector for
both commercial and residential buildings.
Rise in demand
for facilities management had also been one of the key drivers for growth of
electronic security system in the region. These devices help in better
monitoring the working environment to improve efficiency.
A large sum of
money in electronic security is spent in tourism and related industries. Such
investments include both government (securing key markets, tourist destinations
and transport facilities) and private sector (hotels, spas, restaurants and
recreational parks.
Rise in demand
for smart home solution had a positive impact on the market as it led to demand
for electronically controlled surveillance system that monitors each and every
movement of the individual in an area and control the features accordingly.
In 2016, market for video surveillance retained
its high market share on account of growth in demand from places experiencing
significant footfall such as malls, markets, and other places of tourist
destinations.
The video surveillance systems comprise of
products such as CCTV cameras, which can be further classified as analog and
IP-based. The fire detection systems segment is
government regulated and these systems have experienced a gradual upsurge in
demand as it is mandatory to deploy fire alarm systems in all commercial and
residential buildings. Intrusion alert system/Intrusion alarms are most popular
amongst banks and financial institutions. These products generated significant
demand from residential sector.
Honeywell offers electronic security for
commercial building in a wide range of products for small offices, commercial
solutions and enterprise solutions. Its range of products include Video systems, intrusion
alarm systems, voice alarm systems, fire alarm system and access control system
along with software support of these products.
Bosch products are best suited to be used at
airports, railway stations, stadiums, conventions centers, and industrial
sectors.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
