UAE security market to grow at CAGR 10.7% to 2021

The UAE Electronic Security market is forecast to grow at a CAGR of 10.7% during 2015-21. Government initiatives, increasing investments, rising security & IT spending and growing security concerns are impacting  the adoption of electronic security systems in the country, according to analysts from 6Wresearch.

The researchers say that the UAE economy has continued to show growth due to sectors such as construction, financial, retail and hospitality. The construction sector is budding with a large number of government and private projects to create the infrastructure for the upcoming World Expo 2020. The new construction has spurred the market for electronic security systems especially video surveillance and access control systems in the UAE. Further, growing security spending on infrastructure is spurring the growth of the overall electronic security market.

According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, in the UAE electronic security market, IP video surveillance systems would continue to contribute in a major way to the UAE’s video surveillance system market due to rising IP infrastructure, demand for video analytics and government regulations.

According to Shefali Goel, Research Associate, Research and Consulting, 6Wresearch, ” with more than 25 million visitors expected for the World Expo 2020, deployment of hybrid electronic security systems should be exhibited. In the access control market, the biometric access control system market share is predicted to increase due to higher reliability and security. Fingerprint based access control systems have controlled the market until now; however, with surging security needs, penetration of iris, face and multi-modal biometrics technologies is anticipated to increase.”