Middle East & Africa Video Surveillance Market Size More Than Doubles to Reach USD 8.4 Billion by 2029
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.
Sample Request @ https://www.blueweaveconsulting.com/report/middle-east-and-africa-video-surveillance-market/report-sample
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.
Don’t miss the business opportunity in Middle East & Africa Video Surveillance Market. Consult our analysts to gain crucial insights and facilitate your business growth.
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 Research Blog
Phone No: +1 866 658 6826