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 across multiple end-users like Commercial, Military & Defense, Infrastructure, Residential, Industrial, & Institutional sectors to enhance security. The growing number of criminal activities is amongst the most prominent factors augmenting the demand for video surveillance systems across Saudi Arabia.
The Saudi Arabia Video Surveillance Market is projected to grow at a CAGR of around 3.5% during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the increasing need for a robust security infrastructure across Saudi Arabia to boost safety & reduce crime rates, i.e., surging the demand for video surveillance systems.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|CAGR (2021-2026)||3.5 %|
|Region Covered||North, East, West, South|
|Key Companies Profiled||Axis Communications FZE, Hikvision FZE, Honeywell Security, Dahua Technology Middle East FZE, Sony Gulf FZE Limited, Avigilon Corporation, Pelco by Schneider Electric, Hanwha Techwin, IDIS Middle East, FLIR Systems, Middle East FZE|
|Unit Denominations||USD Million/Billion|
In addition, the rapidly expanding corporate sector, i.e., displaying an escalating establishment of multinational companies & start-ups, is also augmenting the demand for video surveillance systems to increase security in offices & maintain discipline among employees.
Besides, with the mounting influx of tourists in the country, the Saudi government is actively participating in expanding the commercial sector by laying out new projects associated with the construction of airports, shopping malls, and metro & railway stations. It, in turn, is leading to the soaring need for robust security systems and projecting remunerative opportunities for the market in the coming years.
Impact of Covid-19 on the Saudi Arabia Video Surveillance Market
The Covid-19 pandemic in 2020 had a decelerating impact on most industries across Saudi Arabia, yet the Video Surveillance Market witnessed moderate effects amidst the crisis. With the imposition of stringent movement restrictions & lockdown by the Saudi government to curb the spread of this dreadful disease, the leading players in the market observed several unprecedented challenges associated with the development, production, & distribution of video surveillance cameras across the country.
The disruptions in the supply chain led to the unavailability of raw materials required for the production of surveillance cameras and resulted in significant demand-supply gaps. In addition, travel restrictions further affected the transportation & logistics sector, which led to delayed deliveries of pre-produced products and massive financial losses for the leading market players.
However, the market witnessed a sudden hike with the rapidly growing demand for surveillance cameras to monitor containment zones & public places and ensure that social distancing is being followed everywhere. Furthermore, with the gradually reducing number of Covid-19 cases, the leading video surveillance system manufacturers resumed their manufacturing with 100% capacity to meet the burgeoning end-user requirements across the country. In the coming years, they are likely to recover from financial losses that occurred amidst the pandemic & generate significant growth opportunities for the market.
Based on End-Users:
Here, the Infrastructure sector is anticipated to demonstrate the fastest growth in the Saudi Arabia Video Surveillance Market during 2021-26. It owes principally to the growing government focus on infrastructural developments in line with Saudi Vision 2030 & enhancing 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, & public transportations, 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 2026.
Based on the Connectivity Type:
Here, Wireless cameras are anticipated to display the fastest market growth in the coming years. It owes principally to the surging demand for real-time data gathering & transmission on cloud platforms with the help of internet connections. In addition, 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 growth.
Besides, wireless cameras nowadays exhibit technologies like the Internet of Things & Artificial Intelligence and can be operated from multiple devices like smartphones, tablets, laptops, etc. These are other crucial factors projected to contribute to their mounting demand for different applications in the years to come.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Saudi Arabia Video Surveillance Market is projected to grow at a CAGR of around 3.5% during 2021-26.
A. Growing government focus on infrastructural developments & enhancing the security & safety across the country is the key factor anticipated to drive the Saudi Arabia Video Surveillance Market through 2026.
A. Integration of technologies like Artificial Intelligence & Internet of Things into video surveillance systems is an emerging trend anticipated to augment the growth of the Saudi Arabia Video Surveillance Market in the coming years.
A. Wireless connectivity is anticipated to emerge as an area of remunerative opportunities for the leading players in the Saudi Arabia Video Surveillance Market through 2026.