Increasing IT Spending is Propelling the Growth of the GCC Video Surveillance market During 2020-25.

 The launch of various initiative by the GCC countries such as Saudi Vision 2030, and Dubai Vision 2021 towards infrastructural development, host to international event and surge in crime rate such as ATM thefts are projected to place a positive impact towards the growth of GCC video surveillance market in the forecasted period. Moreover, increasing IT spending, boost in foreign direct investment and growing concern people safety has mandated the deployment of video surveillance in pubic area. Hence, this is anticipated to strongly contribute towards the growth of the market in the forthcoming years.

Based on End-user, commercial and infrastructure segment is projected to witness astronomical growth in the GCC video surveillance market in 2019. The growth is attributed to This is due to burgeoning demand for video surveillance in banks and financial institutions due to rising ATM theft, snowballing government spending towards infrastructure sector such as hospitals, shopping mall, metro, hotels and expansion of existing and construction of new public and private infrastructures. Thus, this is increased the deployment of video surveillance in the public areas to ensure safety and diminish crime rate.

UAE is acquired the majority share in the market in 2019. This is due to increase in the inflow foreign direct investment (FDI), increasing government spending on commercial and residential sector and burgeoning demand for higher security cameras. Moreover, upcoming of various construction project for hotels & shopping mall, host of Expo 2021, government regulations regarding mandatory installation of video surveillance systems in public areas are promulgating the demand for video surveillance in the country.

The key players with a considerable market share in the GCC Video Surveillance market are Axis Communications, Bosch Security Systems, Canon, Hangzhou Hikvision, Hanwha Techwin, Honeywell, Pelco, Huawei Technologies, Flir Systems, CP Plus, Cisco Systems, Zhejiang Dahua Technology, Panasonic Corporation.