Middle East & Africa Video Surveillance Market
Middle East & Africa Video Surveillance Market Size More Than Doubles to Reach USD 8.4 Billion by 2029
Published | 10 March 2023
Middle East & Africa video surveillance market is gaining traction because of the increasing security concerns, government initiatives to improve public safety and security, along with rapid pace of urbanization in the region.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Middle East & Africa video surveillance market size at USD 3.93 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Middle East & Africa video surveillance market size to grow at an impressive CAGR of 11.61% reaching a value of USD 8.35 billion by 2029. Government regulations that mandate the installation of video surveillance equipment in retail establishments and public spaces are among the major development factors for the Middle East and Africa video surveillance market. The market is also expected to grow during the forecast period, as a result of a rise in building activity across a variety of commercial and residential sectors, including new projects for hotels, resorts, entertainment venues, and shopping malls.
Middle East & Africa Video Surveillance Market – Overview
A video surveillance system is made up of a network of cameras, monitors/display devices, and recorders. Both the inside and the outside of a building or area can use these technologies. They can be programmed to record solely in reaction to movement, continuously, or only at particular periods of the day. A variety of design elements are feasible for both analog and digital cameras. The ability of a digital video surveillance system to record and store the video signal in a digital format is the primary distinction between a digital video surveillance system and an analog video surveillance system.
Middle East & Africa Video Surveillance Market – By Applications
Based on applications, the Middle East & Africa video surveillance market is segmented into banking & financial, government & transportation, retail & logistics, commercial offices, industrial & manufacturing, and others (residential, hospitality & healthcare, and educational institutions). The retail & logistics segment accounts for the highest market share. Remote access retail security camera solutions enable managers and business owners to watch video feeds from any location. It is essential for stopping theft and shoplifting that could take place while just loss prevention staff are not watching.
Impact of COVID-19 on Middle East & Africa Video Surveillance Market
The COVID-19 pandemic significantly limited the growth of Middle East & African video surveillance market. The emergence of the virus from China and subsequent lockdown implementation in various parts of the world halted the manufacturing and supply chains of video surveillance components. The lockdown also resulted in a huge shortage of semiconductor chips, crucial for manufacturing several video surveillance components, which affected the manufacturing operations in the post-COVID-19 period as well. Furthermore, the temporary pause in the infrastructure activities also directly impacted the demand for video surveillance in the Middle East & Africa market.
Major players operating in the Middle East & Africa video surveillance market include Axis Communications AB, Bosch Group, Hanwha Corporations, Hangzhou Hikvision Digital Technology Co. Ltd, Pelco Corporations, Avigilon Corporations, Honeywell Security Group, Panasonic Corporation, Zhejiang Dahua Technology Co. Ltd., and Cisco Systems Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Middle East & Africa Video Surveillance Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Middle East & Africa Video Surveillance Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Middle East and Africa Video Surveillance Market - By Component (Video Surveillance Cameras, Analog Camera, IP/Network Camera, Wired Camera, Wireless Camera, Others (Video Surveillance Recorder, Network Video Recorder, Digital Video Recorder, Video Surveillance Encoder, Video Management Software)); By Application (Banking & Financial, Government & Transportation, Retail & Logistics, Commercial Offices, Industrial & Manufacturing, Others (Residential, Hospitality & Healthcare, Educational Institutions)); By Country (Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, Rest of Middle East & Africa), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: March 2023
An increasing focus to address growing security concerns and government initiatives to improve public safety and security are expected to drive Middle East & Africa video surveillance market during the forecast period between 2023 and 2029.
Relevant Press Releases
- Global Advanced Ceramics Market Size Set to Touch USD 16.2 Billion by 2029
- Saudi Arabia Vinyl Flooring Market Size Set to Cross USD 416 Million by 2029
- Indonesia Ceramic Tiles Market Size to Grow at Steady CAGR of 4.2% During the Forecast Period
- Asia Pacific Telehandlers market Size Set to Cross USD 1.1 Billion by 2029
- Saudi Arabia Sanitary Ware Market Set to Grow at Steady CAGR of 8.6% during 2022–2028