January 28, 2021
According to the research report titled ‘Saudi Arabia Video Surveillance Market Analysis, 2020‘, available with Market Study Report LLC, Saudi Arabia video surveillance market is likely to register 3.5% CAGR during 2021-2026
Increasing integration of video surveillance in the industries and commercial real-estate establishments including Sudhir Industrial City and Neom Business City, along with rising private sector investment in educational institutions and initiation of various construction projects in the transportation sector such as Riyadh Metro are the factors fueling the growth of Saudi Arabia video surveillance market.
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Furthermore, rising demand for cameras for traffic monitoring, crime prevention, and to observe industrial operations as well as increase in government expenditure for the development of new social infrastructure, and flourishing hospitality and healthcare sector are contributing to the growth of Saudi Arabia video surveillance industry.
Based on camera resolution, Saudi Arabia video surveillance industry is segmented into full HD, ultra HD, and others. Among these, the high definition camera resolution segment captured significant market share in 2019, and is expected to witness substantial gains in coming years owing to Rising adoption of HD camera due to increasing concern for public safety and security, along with launch of innovative cameras by the companies and their rising installation with facial recognition across several verticals industries.
However, rising prevalence of COVID-19 has caused disruptions in demand and supply operations, adversely impacting the growth of Saudi Arabia video surveillance market in recent times. Despite that, increasing construction activities is propelling the industry growth.
Major players influencing Saudi Arabia video surveillance market trends are Dahua Technology Middle East FZE, FLIR Systems Middle East FZE DAFZA, Pelco Incorporated (by Schneider Electric), IDIS Middle East, Hikvision FZE, Axis Communications FZE, Avigilon Corporation, Hanwha Techwin, and Honeywell Security.