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Saudi Arabia Video Surveillance Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Saudi Arabia Video Surveillance market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Market Opportunities
According to MarkNtel Advisors’ research report titled “Saudi Arabia Video Surveillance Market Analysis, 2020”, the Saudi Arabia Video Surveillance market is anticipated to grow at a CAGR of around 3.5% during 2021-26F. Riyadh has been ranked fifth in the Arab world for the number of closed-circuit TV surveillance cameras with 20 cameras per million people. Apart from this, 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 is promoting the demand for video surveillance systems in Saudi Arabia. Furthermore, burgeoning demand for cameras for crime prevention, traffic monitoring, and to observe industrial operations along with a boost in the government spending for the development of new social infrastructure, and strong growth in the hospitality and healthcare sector is leading to healthy growth in the video surveillance market in Saudi Arabia in the forecast period.
Market Segmentation
High Definition (HD) Camera Acquired Significant Market Share
Based on Resolution, High Definition Camera acquired a significant market share in the Saudi Arabia video surveillance market in 2019. The burgeoning adoption of HD camera due to rising concern for public safety and security, the launch of innovative HD camera by the market players, and bolstering installation of HD cameras with facial recognition among verticals are anticipated to drive the growth of the Video Surveillance market in Saudi Arabia in the near future as stated in the MarkNtel Advisors’ research report “Saudi Arabia Video Surveillance Market Analysis, 2020”.
Impact of COVID-19
The outbreak of coronavirus has had an adverse impact on the video surveillance systems market. The imposition of nation-wide lockdown by the government leading to the closure of many business operations which have affected the demand and supply for video surveillance systems in the region. However, the market is expected to bounce back with recovery on account of rising in construction activities which is anticipated to fuel the demand for video surveillance in the country.
Competitive Landscape
According to MarkNtel Advisors, the key players with a considerable market share in the Saudi Arabia Video Surveillance market include Johnson Controls International PLC, Robert Bosch Middle East FZE, Axis Communications AB, Avigilon Corporation, Honeywell International Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Nedap FZE, Pelco Inc., SAS Systems Engineering, HanwhaTechwin Middle East FZE etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Saudi Arabia Video Surveillance Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Saudi Arabia Video Surveillance Market during 2021-26F?
A. The Saudi Arabia Video Surveillance Market is forecast to grow at a CAGR of 3.5% during 2021-26F.
Q. Who are the key competitors or players operating in Saudi Arabia Video Surveillance Market?
A. Johnson Controls International PLC, Robert Bosch Middle East FZE, Axis Communications AB, Avigilon Corporation, Honeywell International Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Nedap FZE, Pelco Inc., SAS Systems Engineering, HanwhaTechwin Middle East FZE, are few of the leading players in the Saudi Arabia Video Surveillance Market.
Q. Which end-user segment would emerge as an opportunity area for players in Saudi Arabia Video Surveillance Market?
A. Hospitality is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Saudi Arabia Video Surveillance Market?
A. Central continue to grow at a highest CAGR, presenting immense opportunities for market players of Saudi Arabia Video Surveillance Market.
