The rising deployment of CCTVs to meet government compliance regulations and further enhance crime prevention, increasing presence of the foreign players with the launch of advanced video surveillance brands to meet the needs of small business owners and the significant surge in the government spending toward the infrastructural development under Dubai Vision 2021 are some of the factors driving the growth of UAE Video Surveillance market in the forecast period. Apart from this, the introduction of the first cloud-based video surveillance solution, the growth of a number of CCTV cameras on the streets to reduce the extent of traffic offenses, and the escalating crime rate are expected to create more avenues for the application of video surveillance systems. Moreover, the initiative by the government to send an unmanned mission to the moon in 2024 with two high-resolution cameras, a microscopic camera, a thermal imagery camera is predicted to boost the demand for the video surveillance market in the years to come.
According to MarkNtel Advisors’ research report titled “UAE Video Surveillance Market Analysis, 2020”, the UAE Video Surveillance market is anticipated to grow at a CAGR of around 4% during 2021-2026F. Based on Component, the camera acquired the majority market share in 2019. IP camera acquired a significant market share in the Camera segment on account of the burgeoning installation of IP cameras in public areas and also for domestic use and small and medium properties. Moreover, the demand for analog cameras is anticipated to surge at a robust rate in the forthcoming period.
“UAE Video Surveillance Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Video Surveillance providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Abu Dhabi & Al Ain to Exhibit the Fastest Growth
Abu Dhabi & Al Ain is projected to grow at the fastest rate in the UAE video surveillance market in 2019. The rising number of installations of the CCTVs to ensure safety, a significant rise in the investment toward commercial and residential sectors, and burgeoning demand for video surveillance in private premises, cafes, hotels, corporate buildings, schools, and driving academies are promulgating the growth of the market. In 2019, more than 300,000 CCTV cameras were installed at over 7,000 entities and public places by Abu Dhabi Monitoring and Control Centre (MCC).to ensure safety and security.
Moreover, Dubai is anticipated to attain the highest CAGR by 2025. The growth is accredited to the introduction of stringent regulations for compulsory integration of video surveillance systems in public areas, the launch of the technologically advanced camera integrated with the Internet of Things (IoT), and initiatives of Mega-projects like Expo 2020 Dubai are fueling the growth of Video Surveillance Market in the forthcoming period as stated in MarkNtel Advisors’ research report “UAE Video Surveillance Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the UAE Video Surveillance market are Aavigilon Corporation, Axis Communication AB, Hanwha Techwin Middle East FZE, Honeywell International Inc., Bosch Security System Inc., CP Plus FZE, Zhejiang Dahua Technology Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd., Pelco Inc., etc.
Key questions answered in the study: