Its Middle East Market for CCTV and Video Surveillance Equipment report forecasts that the market in Saudi Arabia will grow strongly to overtake that of the United Arab Emirates (UAE) to become second largest in the region, after Turkey.
Market analyst and report author, Oliver Philippou, said:
“The reasons for the UAE loss in market position are that: Saudi Arabia has historically set conservative annual oil production forecasts, leaving surplus funding for social spending, including infrastructure, and health care projects; the UEA is a few years ahead of Saudi Arabia in terms of its transition from analogue to network video surveillance equipment; and the UAE is still feeling the effects of the financial crisis and a slowdown in construction projects”.
The UAE has led the way in terms of changing over from analogue to network video surveillance systems, says IMS Research. However, this transition is now beginning to slow. Consequently, the Saudi Arabian market for network video surveillance equipment will grow by 25% a year from 2011 to 2016, compared with the UAE market which is forecast to grow by around 15% a year.
IMS Research’s recently published report The Middle East Market for CCTV and Video Surveillance Equipment – 2012 Edition forecasts the growth of analogue video surveillance equipment, network video surveillance equipment, and other topics in greater detail.
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