Middle East Electronic Security Market is Expected to Grow at CAGR of 22% from 2017-2022: Ken Research

Middle East Electronic Security Market Outlook to 2022 - by Region (North, Central, West, East and South), by Type (Video and Monitoring Systems and Restricted Entry System), by Type of Video and Monitoring Systems (Video Surveillance, Access Control, Intruder Detection) by Type of Restricted Entry System (Traffic Barriers & Accessories, Walkthrough Metal and Passenger Baggage Detectors, Turnstiles and E-Gates, Automation Systems for Gates, Doors, Garage Doors and Shutters, Automatic Retractable Traffic Bollards)

• Artificial Intelligence is the latest technology that is being used in the sector in various domains such as Automatic Number Plate Reader (ANPR) and Video analytics. Integration of these technologies leads to better utilization of security systems to provide high level of security.
• Government which earlier mandated the use of electronic security equipments in key sectors is has made the use of electronic security systems in other sectors also which has lead to increase in demand from sectors such as healthcare, financial, hospitality.
• Qatar world cup 2022 and Dubai expo 2020 are some of the projects which will drive the infrastructure growth in the region and thus bring huge demand from the government sector for electronic security equipments.

The market for electronic security in Middle East is expected to register double digit growth as it has gained fresh momentum due to enhanced focus of the government. Demand for electronic security equipments will be largely driven by smart home, commercial infrastructure and compliance to government regulation. In the last few years, these sectors have seen rapid growth in various regions across the Middle East. The political conditions are also playing a major role in acceptance of electronic security due to increasing security concerns. The hospitality and banking sector are the major end users of electronic security equipments. New technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) have a wide application in the sector, although Middle East is yet to stride in this area as advanced technologies is limited to few projects in the market which is expected to grow by manifold in the near future.

The competition in the market is divided on the type of security systems provided such as monitoring and surveillance systems or restricted entry systems. The monitoring and surveillance systems will continue to account for majority of the revenue generated in the market. The market dynamics across the Middle East has some common feature as well as different features which vary with social, economic and political scenario of the region. Central (KSA, Iraq, Jordan) and northern region (Turkey, Syria, Cyprus) will drive majority of demand from the market in the future. Southern region’s (Oman, UAE, Yemen) growth will surpass others in the entire Middle East. The demand from western region (Lebanon, Israel, Egypt, Palestine) will grow at slowest rate and will be mainly due to saturated market in Israel and poor economic conditions in Lebanon.

Analysts at Ken Research in their latest publication “Middle East Electronic Security Market Outlook to 2022 - By Monitoring and Surveillance (CCTV, Access Control and Intruder Detection), Restricted Entry Systems (Traffic Barriers, Turnstiles, Detectors, Automated Gates, Traffic Bollards)” believe that revamping the distribution system, introduction of new technologies such as artificial intelligence and e-governance will help in maximizing the delivered value from manufacturers, system integrators and government to the end users. Manufacturers should focus on increasing the perceived value of their products by communicating the long term benefits of their products.

Middle East electronic security market is expected to register positive CAGR of around 22% during the period 2017-2022 with central region expected to gain lion share of the market.

For more information on the research report, refer to below link:
https://www.kenresearch.com/defense-and-security/security-devices/middle-east-electronic-security-market/168983-16.html

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