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GCC Video Surveillance Industry Growth Forecast and Market Dynamics – 2028

Amit Kumar
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GCC Video Surveillance Market Projected to Expand at 6% CAGR Through 2028

The GCC Video Surveillance Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28. The growth of the market is attributed to rising concerns of customers regarding safety, a boost in the construction sector, and an increase in IT spending. Moreover, mandatory installation of video surveillance systems in countries such as Saudi Arabia and the UAE, a rise in crime rate, escalating FDI and government spending, and growing tourism are some of the factors leading to the growth of the market in the forecast period.

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Strategic Takeaways from the Report:

GCC Video Surveillance Market Segment Overview & Classification

This market is categorized to offer targeted insights across various operational and consumer-related verticals.

Segment List:

By Component

By Connectivity Type

By Service

By End Users

Based on end users, the commercial segment acquired a significant market share in the GCC video surveillance market in the historical years. This is due to the rising demand for video surveillance in banks and financial institutions due to the increasing number of fraudulent transactions & data theft, rise in the number of ATM thefts, and surge in crime rate, especially in the retail sector. Moreover, the escalating government spending toward the commercial sector and laid strict government initiatives regarding the compulsory installation of video cameras are projected to drive the growth of the market.

By Country

Among all the components, the Camera held a considerable share in the GCC Video Surveillance market during 2018-2022. The adoption of IP cameras in the GCC region has been driven by the increasing demand for high-definition video surveillance, as well as the need for more flexible and cost-effective surveillance solutions.

These divisions help clarify demand patterns and expected shifts.

Market Opportunities

Increasing Commercial Sector Development to Fuel the Market Growth – The governments in the UAE, Qatar, Saudi Arabia, Kuwait, etc., have been primarily focusing on the development of the commercial sector of the country intending to shift the base of its economy to the non-oil-based sector. The diversification plans are aimed at developing the non-oil economy sectors such as hospitality, retail, etc., to fulfill the needs of the population of their countries and to assure sustainable development even after the exhaustion of oil reserves. Therefore, the governments are investing and encouraging public-private partnerships for development in the sectors such as residential, commercial, and industrial.

Hence, ongoing construction projects such as Ain Dubai, The Royal Atlantis, Al Jahra, Riyadh, Doha, etc., have generated the demand for video surveillance cameras. Henceforth, with the upscaling of infrastructure projects, the sales of video surveillance components and solutions have been significantly rising in the region.

GCC Video Surveillance Market Competitive Snapshot from 2023-2028

The report highlights established and emerging players in the global GCC Video Surveillance Market, evaluating their strengths, challenges, and potential for innovation.

Key Competitors Include:

Their activities include partnerships, product launches, and geographic expansions.

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About Post Author

Amit Kumar

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