Saudi Arabia Video Surveillance Market Research Report: Forecast (2024-2030)

Market Definition

Video Surveillance is a system that enables the user to closely monitor a location and store all the information & footage on the associated device. These systems are deployed by multiple end-users like Commercial, Military & Defense, Infrastructure, Residential, Industrial, and institutional sectors to enhance security.

Market Insights & Analysis: Saudi Arabia Video Surveillance Market (2024-30):

The Saudi Arabia Video Surveillance Market is estimated to grow at a CAGR of around 3.5% during the forecast period, i.e., 2024-30. The market growth is driven primarily by the increasing need for a robust security infrastructure across Saudi Arabia to boost safety and reduce crime rates, i.e., surging the demand for video surveillance systems.

Additionally, the rising integration of video surveillance in the industrial sector and commercial real-estate establishments such as Neom Business City and Sudhir Industrial City, increasing investment by the private sector in educational institutions, and the emergence of various construction projects in the transportation sector such as Riyadh Metro would promote the deployment of video surveillance market in Saudi Arabia.

The rising penetration towards safety and security is driving the Saudi Arabia Video Surveillance market growth. Increasing disposable income coupled with surging cases of theft is developing the market. Moreover, the integration of artificial intelligence is also accelerating the Video surveillance market share in the country. Moreover, under the national development program & quality of life program, in line with the Kingdom’s National Vision 2030, the government is investing extensively in framing policies to develop infrastructure in Saudi Arabia.

Initiatives such as Saudi Vision 2030 and the National Transformation Program (NTP), which aim to rapidly develop smart infrastructure with a high degree of building automation & surveillance as a result of rising security concerns and awareness, are acting as a catalyst in driving the overall demand, thus contributing in enhancing the Saudi Arabia Video Surveillance Market size in the future years.

Saudi Arabia Video Surveillance Market Driver

Government Mandates & Security Concerns to Drive the Saudi Arabia Video Surveillance Market – The Video Surveillance Market in Saudi Arabia is experiencing a notable upswing, primarily due to ascending security concerns. These concerns, whether in public spaces or private sectors, have created a strong demand for video surveillance systems.

Organizations, government agencies, and individuals are increasingly recognizing the pivotal role that surveillance technology plays in bolstering security & preventing unexpected incidents. Due to this, the government of Saudi Arabia has been updating the video surveillance regulations to integrate the monitoring of any criminal activity in the country. For instance, in 2022, Saudi Arabia's Council of Ministers approved a new regulation mandating the installation of surveillance systems in all public areas of hotels, residential buildings, sports clubs, stadiums, and mosques. These mandatory regulations are instrumental in safeguarding assets, ensuring public safety & fostering a heightened demand for video surveillance solutions in the country.

Saudi Arabia Video Surveillance Market Challenge

Cybersecurity Concerns to Impede the Industry Expansion – The cybersecurity risk associated with video surveillance has a notable influence on the demand for these systems within the nation. With surveillance systems becoming more interconnected & dependent on digital technologies, the vulnerability to cyberattacks is on the rise, thus jeopardizing vital security footage & sensitive data.

In line with this, securing the safety of these systems against cyber threats has become critical, necessitating the adoption of effective cybersecurity protections. However, this undertaking presents a challenge, especially for organizations lacking the requisite expertise in the field of cybersecurity, which also increases the overall cost of the deployment and service. Consequently, negatively affects the demand graph and further restricts the Saudi Arabia Video Surveillance Market.

Saudi Arabia Video Surveillance Market (2024-30): Segmentation Analysis

The Saudi Arabia Video Surveillance Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the national level. In accordance to the analysis, the market has been further classified as:

Based on Connectivity Type:

• Wired
• Wireless

Wireless cameras are anticipated to display the fastest growth in the Saudi Arabia Video Surveillance Market during the coming years. It owes principally to the surging demand for real-time data gathering and transmission on cloud platforms with the help of Internet connections. The growing awareness about the easy accessibility from multiple devices, affordability, and widening availability of wireless cameras are also playing a crucial role in stimulating their demand and propelling the overall market expansion.

Moreover, wireless cameras nowadays exhibit technologies like the IoT & AI and can be operated from multiple devices like smartphones, tablets, laptops, etc. Hence, these factors are projected to contribute to this segment's mounting demand for different applications in the future years.

Based on End User:

• Commercial
• Military & Defence
• Infrastructure
• Residential
• Others (Industrial, Institutional)

The Infrastructure sector is anticipated to demonstrate the fastest growth in the Saudi Arabia Video Surveillance Market during 2024-30. This is primarily due to the growing government focus on infrastructural developments in line with Saudi Vision 2030 to enhance the overall security mechanism of the country.

This escalation is majorly for the government to attain close monitoring across places like airports, highways, high-risk zones, busy & accident-prone zones, and public transportation, among others. It, in turn, is generating growth opportunities for the leading players to expand their product offerings to meet the mounting requirements and augment the overall market growth through 2030.

Saudi Arabia Video Surveillance Industry Recent Development:

• 2023: Dahua Technology announced a partnership with Mindware KSA to expand its reach & strengthen its distribution network throughout the Kingdom of Saudi Arabia.
• 2022: Hanwha Techwin signed contract with Saudi Arabia's Defence Ministry to support its defence capabilities & supply chain services.

Gain a Competitive Edge with Our Saudi Arabia Video Surveillance Market Report

• Saudi Arabia Video Surveillance Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Saudi Arabia Video Surveillance Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.