Video surveillance is systems, devices, & services used principally for applications like monitoring people, facilities, or places remotely or from a distance. These services are seen as highly useful & economical methods to strengthen the security systems for people, buildings, and valuable assets. In the UAE, the demand for video surveillance systems & services is gaining swift traction across commercial, residential, industrial, & institutional sectors.
The UAE Video Surveillance Market is projected to grow at around 4% CAGR during the forecast period, i.e., 2021-26. The growth of the market is likely to be driven primarily by the rapidly increasing need to enhance the overall safety & security across different sectors like commercial, residential, industrial, etc., to monitor activities closely & remotely.
In addition, rapid technological advancements in surveillance technology like cloud computing are shaping the interface of video surveillance systems & boosting their demand across the country. Besides, these systems are gaining swift traction, owing to the growing penetration of cameras across corporate organizations.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||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.|
|Unit Denominations||USD Million/Billion|
Moreover, the majority of organizations being dependent on surveillance cameras for security, massive budgets of organizations, coupled with an increasing number of data centers and operations associated with centralized data, are other crucial aspects projected to boost the demand for surveillance cameras & systems and drive the market in the coming years.
Impact of Covid-19 on the UAE Video Surveillance Market
The advent of Covid-19 in 2020 had a decelerating effect on most industries across the UAE, where the Video Surveillance Market was no exception. With the imposition of stringent movement restrictions & lockdowns by the UAE government to curb the spread of this dreadful disease, the market underwent several unprecedented challenges.
Disruptions in the supply chain due to hampered transportation & logistics resulted in delays in the deliveries of pre-produced video surveillance systems & raw materials required for the production of these systems. Additionally, leading players in the market witnessed a decline in the demand for these services owing to the paradigm shift of organizations toward work-from-home culture.
However, on the other hand, the market witnessed a temporary hike amidst the crisis owing to the escalating demand for these services for surveillance & monitoring situations across containment zones, streets, & other areas to survey the conditions & laws by the government. Nonetheless, with the gradually declining number of Covid-19 cases, the government uplifted the restrictions & allowed the recommencement of business operations. It, in turn, generated lucrative opportunities for the leading players in the market to offer services across end-user industries and introduce new video surveillance devices in the coming years.
Based on the End-User:
Of them all, the Commercial sector is anticipated to dominate the UAE Video Surveillance Market with the largest share during 2021-26. It attributes principally to the escalating demand for security systems across banking & financial, retail, wholesale, and media & entertainment sectors. Besides, the surging instances of fraudulent activities, thefts, & crimes in banks are also stimulating the demand for security systems for active surveillance across different commercial areas and fueling the overall market growth.
Moreover, the retail sector is anticipated to be the largest consumer of video surveillance systems across the commercial sector, since it observes numerous instances of fraudulent actions, like shoplifting & burglary, leading to massive financial losses. Hence, the demand for these systems is anticipated to hike across the commercial sector & boost the overall growth of the UAE Video Surveillance Market during the forecast period.
On the other hand, the Infrastructure sector is expected to display the fastest growth of the UAE Video Surveillance Market during the forecast period. It owes to massive investments by the UAE government in various construction projects for shopping malls, hotels, resorts, airports, & metros, among others, i.e., stimulating the adoption of video surveillance solutions in these areas to boost safety & reduce crime rates.
Nonetheless, the Residential sector is projected to witness an upswing in the market during the forecast period due to escalating demand for video surveillance solutions to address concerns over theft & burglary and reduce criminal activities at homes.
Key Driver: Escalating Focus of Leading Players to Introduce New Surveillance Solutions
Constant advancements in technologies like Artificial Intelligence and their integration in video surveillance solutions are generating growth opportunities for the leading players in the UAE Video Surveillance Market to develop cutting-edge systems and strengthen the security infrastructure. It, in turn, shall further enable them to enhance their service offerings & visibility across the country and drive the market through the forecast period.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The UAE Video Surveillance Market is projected to grow at around 4% CAGR during 2021-26
A. The Commercial sector is projected to emerge as areas of remunerative opportunities for the leading players in the UAE Video Surveillance Market through 2026.
A. Various initiatives by the UAE government for infrastructural developments and the active participation of the leading players in introducing innovations in video surveillance are the key growth opportunities expected to drive the UAE Video Surveillance Market during 2021-26.
A. In the coming years, the UAE Video Surveillance Market is anticipated to witness the leading players actively working toward developing new surveillance solutions and rapid deployment of these solutions across different end-user sectors.