Saudi Arabia Physical Security Services Market Report 2023: Trends, Competitive Landscape, Revenue, Outlook, Forecasts, Analysis, Growth Factors 2018-2022 & 2022-2028
DUBLIN, March 20, 2023 /PRNewswire/ -- The "Saudi Arabia Physical Security Services Market | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT: Market Forecast By Services Type, By Application Type, By Regions And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Physical Security Services Market revenue size is projected to grow at a CAGR of 8.1% from 2022E-2028F
The market would register significant growth owing to rise in number of sport and commercial events which requires strong crowd management.
Additionally, owing to growing oil and gas project the demand for manned guarding is expected to boost from oil and gas sector segment of Saudi Arabia physical security service market. Additionally, rise in number of luxury and first-class hotel projects along with rising residential project in Riyadh is expected to augment demand in the coming years.
Saudi Arabia Physical Security Services Market report comprehensively covers the market By Service Types, Applications and Regions. Saudi Arabia Physical Security Services 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.
Saudi Arabia Physical Security Services Market Synopsis
Saudi Arabia Physical Security Services market witnessed owing to the growth in oil & gas sector, hotels, hospitals and commercial sector on the back of strong government support to pull up the Saudi Arabia's economy as it's majorly driven by oil and gas sector.
Rising integration of electronic security such as access control and systems, video surveillance systems, alert systems, anti-theft systems etc., in the industrial sector, commercial real-estate and residential establishments, increasing investment by the private sector in institutions, and the emergence of several construction projects in the transportation sector such as Riyadh Metro would promote the deployment of physical security services in Saudi Arabia.
Market by ervice Types
Based on service type, manned guarding acquired the highest revenue share owing to growing demand in oil & gas sector, as manned guarding plays a pivotal role in this sector. Further, manned guarding would retain its dominancy in the forecast period due to growth in commercial and residential sector.
Under the Saudi vision 2030, the government has launched "Project HQ" which aims to attract many international companies to shift their regional headquarters to Saudi Arabia by 2030. Additionally, growing hotel project in Saudi Arabia is expected to drive the demand for manned guarding in the coming years.
Market by Region Type
Based on Region type, Central region of Saudi Arabia garnered major share in the Saudi Arabia physical security services market for the year 2021 owing to the presence of majority of the commercial complexes, sports complexes and residential sector in Riyadh.
The city is being the spearhead of Saudi Arabia's economy would lead to dominate the central region of Saudi Arabia physical security services market in the forecast period. Additionally, Riyadh is expected to launch 455 villas with an ongoing housing programme for its citizens which is augmented to drive the growth of physical security market in coming years.
Key Highlights of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Services Type
By Application Type
For more information about this report visit https://www.researchandmarkets.com/r/7maiq2
Research and Markets
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SOURCE Research and Markets