Middle East And Africa Video Surveillance Market Report 2022-2028: Mandatory Government Regulations, Increased Terrorism Risks and Consumers Switching to IP/Network-based Cameras Driving Growth
DUBLIN, Nov. 28, 2022 /PRNewswire/ -- The "Middle East And Africa Video Surveillance Market Outlook: Market Forecast By Components (Video Surveillance System Cameras, Video Surveillance System Recorder, Video Surveillance System Encoder And Video Management Software, By Verticals, By Countries And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Middle East and Africa Video Surveillance Market size is projected to grow at CAGR of 4.1% during 2022-2028.
Middle East and Africa Video Surveillance Market report comprehensively covers the market by components, applications and countries. Middle East and Africa Video Surveillance Market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Middle East and Africa Video Surveillance Market Synopsis
Middle East and Africa Video Surveillance Market witnessed a steady growth during 2018-19 as a result of several mandatory government regulations implied upon businesses for compulsory installation of video surveillance systems in shops and public areas in several countries
The upsurge in the construction activities in different horizons of commercial and residential spaces entailing the new projects related to hotels, resorts, entertainment centres, shopping malls and the huge influx of FDI in the retail and construction sectors were the key catalysers for the overall growth of video surveillance solutions across the region.
However, the novel COVID-19 has disrupted the overall economy in countries, leaving its negative imprint on numerous sectors and refraining the growth of surveillance market during the year 2020.
Middle East and Africa Video Surveillance Market growth is likely to happen in the forecast period on account of increasing disposable income, urbanization, rising terrorism, crime and the rising installation of cameras in public places.
The government initiatives for installation of video surveillance systems for traffic management, rapid infrastructural growth, and reforms in the education and BFSI vertical coupled with rising awareness among the end-users and businesses in the countries about the advantages of video surveillance solutions would act as a critical driving force behind the growth of the market in the country during the forecast period.
The growing need for perimeter security & surveillance of critical infrastructure and government facilities would further augment the demand for video surveillance solutions from government and transportation secor in the forthcoming period. Moreover, the consumers are likely to shift their preferences from analog video cameras to IP/Network-based cameras due to its connectivity over IoTs.
Market by Components Analysis
By Components, Video surveillance camera acquired more than 40% of the market share in terms of revenue.
They are projected to show significant growth during the forecast period owing to increase in demand for cameras in public spaces such as roads, malls, construction sites etc for surveillance.
Recorders would capture the second highest volume and revenue share in the market as they locally monitor all cameras connected in the network and enable user to take backup of recordings. With the growing need for security, high-definition technologies in video surveillance are expected to penetrate the market during the forecast period
Market by Country Analysis
By countries, Turkey accounted for the largest Middle East and Africa Video Surveillance market share in 2021 and is also expected to be at the top in the forecast years owing to high terrorist attacks in the country for which government has installed video surveillance camera across the borders and in all the public places to keep an eye on irregular activities.
It is followed by UAE and Saudi Arabia on account of their growing urbanization, theft and increasing crime rate along with growth in construction projects in the transportation, hospitality, industrial and commercial verticals.
Further, the government of several countries such as UAE, Turkey and Saudi Arabia are focusing to improve security system in countries which include demand for longer video retention as well as less downtime and loss of video situation, these factors would further spur the demand for video surveillance systems in the region over the coming years.
Key Attractiveness of the Report
Market Scope and Segmentation
For more information about this report visit https://www.researchandmarkets.com/r/u3doiv
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