GCC Video Surveillance Systems Market to Post 9.6% CAGR to 2023, Predicts 6Wresearch in Its Report Published at MarketPublishers.com02 Feb 2017 • by Natalie Aster
LONDON – Rising government expenditures, increasing construction market, infrastructure development activities, surging FDI in the construction and retail domains alongside government regulation for compulsory surveillance system installation in public access areas, among others, contributed to the expansion and growth of the GCC video surveillance systems. In addition, the rise of tourism region-wise has led to the expansion of construction projects in a variety of sectors.
The video surveillance marketplace in the GCC region is projected to register a 9.6% CAGR through to 2023. Over the past 2 years, the market decreased owing to a drop in government spending on the back of declining petroleum prices. The market is poised to recover with an upsurge in oil prices after 2017.
In terms of verticals, transportation and government captured the lion’s share of the total revenue. In the next 6 years, the hospitality & healthcare and education sectors are set to record highest CAGR through to 2023.
Across the GCC region, Saudi Arabia dominated the market by revenue due to expanding infrastructure development, specifically the residential and commercial verticals. Nevertheless, in the next 6 years, the markets of Qatar and UAE will likely see higher growth across the region.
New topical research report “GCC Video Surveillance Systems Market (2017-2023)” prepared by 6Wresearch presents an all-encompassing analysis of the market on a regional level. It offers historical data, and also market size estimates and forecast figures for the world’s video surveillance sector to 2023. The report includes market size data and projections of the video surveillance market in terms of revenue and volume until 2023, across the GCC region and for all key countries. The report thoroughly examines and canvasses the market based on type, by vertical, and by country. The study provides an unprejudiced and granular analysis of the current trends, opportunities and high growth areas, and major market drivers. Extensive profiles of the top 9 companies are at hand in the study, too.
More research studies drawn up by 6Wresearch are available in this catalogue.