Saudi Arabia Video Surveillance Market Size Expands at Significant CAGR of 9.25% to Touch Value of USD 2 Billion by 2030

Published | 05 March 2024

Saudi Arabia Video Surveillance Market is flourishing due to the rapid adoption of advanced technologies, growing security concerns, government’s mandates for enhancing security, and an increasing number of infrastructure development projects across the Kingdom.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia Video Surveillance Market size at USD 1.01 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Video Surveillance Market size to expand at a CAGR of 9.25% reaching a value of 1.98 billion by 2030. Video Surveillance Market in Saudi Arabia is propelled by the growing imperative for a robust security infrastructure to enhance safety and curb crime rates throughout the nation. This heightened demand for video surveillance systems is not only spurred by their integration into the industrial sector and commercial real-estate hubs such as Neom Business City and Sudhir Industrial City but also by increased private sector investments in educational institutions and ongoing construction projects in the transportation sector like the Riyadh Metro.

By volume, BlueWeave estimated the Saudi Arabia Video Surveillance Market size at 186 million units in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Video Surveillance Market size to expand at a CAGR of 10.41% reaching the volume of 279 million units by 2030. The upsurge in video surveillance adoption is additionally fueled by a rising emphasis on safety and security due to an uptick in disposable income and an increase in theft cases. Furthermore, the infusion of artificial intelligence (AI) is playing a pivotal role in accelerating the market share of video surveillance in the Kingdom. The Saudi government's substantial investments in national development programs, notably Saudi Vision 2030 and the National Transformation Program, align with the broader National Vision 2030, emphasizing policy development for infrastructure enhancement in Saudi Arabia. These initiatives, prompted by heightened security concerns and awareness, serve as catalysts, propelling overall demand and contributing significantly to the expansion of the Saudi Arabia Video Surveillance Market in the coming years.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Video Surveillance Market

The Saudi Arabia Video Surveillance Market experiences profound impacts due to escalating geopolitical tensions. This shift is notably evident in the deepening economic ties between Saudi Arabia and China. With China emerging as a major trading partner and significant investor, the dynamics extend beyond economic realms into strategic partnerships, notably in armed drone production. Saudi Arabia's recent approval to join the Shanghai Cooperation Organization aligns with this geopolitical shift, further emphasizing the evolving landscape. A consequential outcome is the growth of digital authoritarianism, marked by the adoption of advanced surveillance technology. This paradigm shift responds to the region's challenges, coupled with a perceived United States disengagement. The implications are far-reaching, not only transforming Saudi Arabia's security framework but also impacting U.S. operations in the Gulf, necessitating strategic adjustments in response to the evolving geopolitical landscape.

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Saudi Arabia Video Surveillance Market

Segmental Information

Saudi Arabia Video Surveillance Market – By System Type

Based on system type, the Saudi Arabia Video Surveillance Market is divided into Analog Video Surveillance Systems, IP Video Surveillance Systems, and Hybrid Video Surveillance Systems segments. The IP video surveillance systems segment is expected to hold the highest share in the Saudi Arabia Video Surveillance Market by system type over the forecast period. It is primarily due to the increasing advancements in smart city and smart home applications. Also, the adoption of technological advancements, real-time access, wireless technology integration, video analytics, and cost-effectiveness contribute significantly to the growth of the IP camera segment in the Kingdom.

Competitive Landscape

The Saudi Arabia Video Surveillance Market is fragmented, with numerous players serving the market. The key players dominating the Saudi Arabia Video Surveillance Market include Dahua Technology, Axis Communications, Hikvision, Honeywell Security, ZMR, Industrial Video & Control Co., Pelco, Avigilon Corporation, Hanwha Techwin, and FLIR Systems. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

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The report's in-depth analysis provides information about growth potential, upcoming trends, and the Saudi Arabia Video Surveillance Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Video Surveillance Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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