According to market research and consulting firm 6W Research; the commercial security market in the Middle East will reach US$7.4bn by 2024, with a compound annual growth rate (CAGR) of 16.6 per cent
The research indicated that demand for IP-based video surveillance systems, access control and intrusion detectors would continue to drive the market, which is fuelled by increased government spending on infrastructure projects and the imposition of stringent regulatory policies, creating increased opportunities for global security brands.
Upcoming mega-events in the region, such as the Expo 2020 in Dubai and the expected influx of millions of additional visitors are also expected to create demand for the latest video surveillance systems and intelligent surveillance devices.
Access control systems continue to be in high demand in the Middle East, registering market revenue of US$300mn in 2017.
The demand for biometric access controlled systems has surged across the Middle East with the growing adaption of fingerprint and eye scanners across the region. Most of the deployment of such systems in the region remains in the commercial sector.
6W Research stated that the market for intelligent video analytics software and systems is also on the rise across the entire region and are expected to create significant growth opportunities for manufacturers, vendors and distributors.
Andreas Rex, Intersec show director, said, "Commercial security continues to be one of the chief driving sectors of Intersec as companies across the region continue to invest in cutting-edge intelligent security systems to protect their investments and facilities in an increasingly complex security scenario.”
"As the most influential and significant international trade platform for safety, security and fire protection in the wider region, Intersec 2019 will showcase a wide spectrum of the latest developments in the Commercial Security sector," he added.