Report Overview

Saudi Arabia Video Surveillance Market – Industry Trends & Forecast Report, 2030

Saudi Arabia Video Surveillance Market size was estimated at USD 1.01 billion in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Video Surveillance Market size is projected to grow at a CAGR of 9.25% reaching a value of USD 1.98 billion by 2030. Major drivers of the Saudi Arabia Video Surveillance Market are the growing imperative for a robust security infrastructure to enhance safety and curb crime rates across the Kingdom. 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, the Saudi Arabia Video Surveillance Market size was estimated at 186 million units in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Video Surveillance Market size is expected 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 is playing a pivotal role in accelerating the market share of video surveillance in the country. The 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 foreseeable future.

Video Surveillance – Overview

Video surveillance, represented by closed-circuit television (CCTV), constitutes a digitized system adaptable to any environment. Surveillance technology captures and compresses images and videos, facilitating storage and monitoring. Utilizing a television system, it transmits signals from cameras to receivers through cables, telephone links, or digital data networks. Widely employed for remote monitoring, facility protection, vandalism deterrence, event surveillance, and traffic monitoring, high-definition cameras with facial recognition combat theft. Deployed in commercial buildings, public infrastructures, and industrial peripheries, video surveillance, notably CCTV, ensures real-time monitoring and informs security measures through analyzed video information. The evolving CCTV landscape, driven by heightened global security concerns, encompasses intellectual analysis capabilities, enabling preventive actions and fostering market growth.

Saudi Arabia Video Surveillance Market

Growth Drivers

Government Mandates for Enhanced Security Measures

The Video Surveillance Market in Saudi Arabia is witnessing a significant upswing, driven primarily by mounting security concerns in both public spaces and private sectors. Recognizing the crucial role of surveillance technology in enhancing security and preventing unforeseen incidents, organizations, government agencies, and individuals are increasingly acknowledging its importance. Consequently, the Saudi Arabian government has been proactive in updating video surveillance regulations to incorporate comprehensive monitoring of criminal activities across the country. Notably, in 2022, the Council of Ministers approved new regulations mandating the installation of surveillance systems in various public areas, including hotels, residential buildings, sports clubs, stadiums, and mosques. These mandated regulations play a pivotal role in safeguarding assets, ensuring public safety, and fostering a heightened demand for video surveillance solutions nationwide.

Growing Adoption of Advanced Technologies

In Saudi Arabia, the burgeoning demand for video surveillance technology signals a dynamic shift, particularly in embracing advanced solutions. Industry experts, including Etienne van der Watt from Axis Communications, highlight the nation's status as a nascent yet promising market. Regulatory updates, exemplified by the 2022 Council of Ministers' mandate for surveillance systems in public spaces, reflect a commitment to harnessing advanced technologies for security. Despite a temporary dip in 2021, the market is now poised for robust growth, driven by technological strides like IP-based cameras and video analytics.

Challenges

Cybersecurity Threats

The demand for video surveillance systems across the Kingdom is significantly influenced by the cybersecurity risks associated with these technologies. As surveillance systems increasingly rely on digital technologies and interconnected networks, the susceptibility to cyberattacks has grown, posing threats to crucial security footage and sensitive data. Safeguarding these systems against cyberthreats is now imperative, demanding the implementation of robust cybersecurity measures. However, this endeavor proves challenging, particularly for organizations lacking expertise in cybersecurity, consequently elevating deployment and service costs. This challenge has a detrimental impact on the demand trajectory, thereby imposing constraints on the growth of the Saudi Arabia Video Surveillance Market.

Impact of 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 United States operations in the Gulf, necessitating strategic adjustments in response to the evolving geopolitical landscape.

Saudi Arabia Video Surveillance Market

Segmental Coverage

Saudi Arabia Video Surveillance Market – By Component

By component, the Saudi Arabia Video Surveillance Market is divided into hardware, software, and services segments. The services segment holds the highest share in the Saudi Arabia Video Surveillance Market by component. It can be attributed to the increasing preference among businesses to avoid substantial investments in hardware or software, opting instead for a more cost-effective service model. Service providers cater to this demand by offering a range of services, including maintenance, system integration, and managed services.

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 during the forecast period. It is primarily due to the increasing advancements in smart city and smart home applications. Also, technological innovations, real-time access, wireless technology integration, video analytics, and cost-effectiveness contribute significantly to the growth of the IP camera segment in the Kingdom’s Video Surveillance Market.

Saudi Arabia Video Surveillance Market – By End User

On the basis of end user, the Saudi Arabia Video Surveillance Market is divided into Commercial, Industrial, Residential, and Government segments. The commercial segment holds the highest share in the Saudi Arabia Video Surveillance Market by end user. It can be attributed to a rising demand observed in hotels, banks, and retail enterprises. The growth of the financial sector, coupled with an escalating need for enhanced building security and monitoring of customer and staff activities, serves as additional impetus for the expansion of video surveillance within this segment.

Competitive Landscape

Major players operating in 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. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In January 2024 - Barox Kommunikation AG has partnered with Amstergi, a leading distributor in the Saudi Arabia Video Surveillance Market. Based in Dubai, Amstergi offers comprehensive supply chain services for security integrators in the UAE and Qatar. The collaboration aims to expand Barox's influence, introducing their high-performance Ethernet switches and advanced Device Management System to enhance control functionality in the Saudi Arabia Video Surveillance Market.

• In 2023 - Dahua Technology formed a collaboration with Mindware KSA to broaden its presence and fortify its distribution network across the Kingdom of Saudi Arabia.

Scope of the Report

By Component

• Hardware

• Software

• Services

By System Type

• Analog Video Surveillance Systems

• IP Video Surveillance Systems

• Hybrid Video Surveillance Systems

By End User

• Commercial

• Industrial

• Residential

• Government

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Video Surveillance Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing adoption of advanced technologies
         2. High security concerns
         3. Government mandates for security purposes
         4. Infrastructure development
      2. Restraints
         1. High implementation costs
         2. Data privacy concerns
         3. Cybersecurity threats
      3. Opportunity
         1. Smart city initiatives
         2. Increasing government spending on security and infrastructure upgrades
      4. Challenges
         1. Integration with existing infrastructure
         2. Skilled workforce shortage
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Video Surveillance Market: Marketing Strategies
5. Saudi Arabia Video Surveillance Market Overview
   1. Market Size & Forecast, 2019-2030
      1. By Value (USD Billion)
      2. By Volume (Million Units)
   2. Market Share & Forecast
      1. By Component
         1. Hardware
         2. Software
         3. Services
      2. By System Type
         1. Analog Video Surveillance Systems
         2. IP Video Surveillance Systems
         3. Hybrid Video Surveillance Systems
      3. By End User
         1. Commercial
         2. Industrial
         3. Residential
         4. Government
         5. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Saudi Arabia Video Surveillance Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Geopolitical Tension in Saudi Arabia Video Surveillance Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Dahua Technology
   2. Axis Communications
   3. Hikvision
   4. Honeywell Security
   5. ZMR
   6. Industrial Video & Control Co.
   7. Pelco
   8. Avigilon Corporation
   9. Hanwha Techwin
   10. FLIR Systems
   11. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Saudi Arabia Video Surveillance Segmentation       

Figure 2       Saudi Arabia Video Surveillance Market Value Chain Analysis     

Figure 3       Company Market Share Analysis, 2023

Figure 4       Saudi Arabia Video Surveillance Market, By Value (USD Billion), 2019-2030  

Figure 5       Saudi Arabia Video Surveillance Market, By Volume (Million Units), 2019-2030         

Figure 6       Saudi Arabia Video Surveillance Market Share, By Component, By Value (USD Billion) 2019-2030

Figure 7       Saudi Arabia Video Surveillance Market Share, By System Type, By Value (USD Billion) 2019-2030

Figure 8       Saudi Arabia Video Surveillance Market Share, By End User, By Value (USD Billion) 2019-2030

List of Tables

Table 1        Saudi Arabia Video Surveillance Market, By Value (USD Billion), 2019-2030  

Table 2        Saudi Arabia Video Surveillance Market, By Volume (Million Units), 2019-2030         

Table 3        Saudi Arabia Video Surveillance Market Share, By Component, By Value (USD Billion) 2019-2030

Table 4        Saudi Arabia Video Surveillance Market Share, By System Type, By Value (USD Billion) 2019-2030

Table 5        Saudi Arabia Video Surveillance Market Share, By End User, By Value (USD Billion) 2019-2030

Table 6        Dahua Technology Company Overview                   

Table 7        Dahua Technology Financial Overview                   

Table 8        Axis Communications Company Overview                        

Table 9        Axis Communications Financial Overview                         

Table 10      Hikvision Company Overview                       

Table 11      Hikvision Financial Overview                        

Table 12      Honeywell Security Company Overview                           

Table 13      Honeywell Security Financial Overview                   

Table 14      ZMR Company Overview                    

Table 15      ZMR Financial Overview                     

Table 16      Industrial Video & Control Co. Company Overview                     

Table 17      Industrial Video & Control Co. Financial Overview                      

Table 18      Pelco Company Overview                   

Table 19      Pelco Financial Overview                    

Table 20      Avigilon Corporation Company Overview                          

Table 21      Avigilon Corporation Financial Overview                          

Table 22      Hanwha Techwin Company Overview                     

Table 23      Hanwha Techwin Financial Overview                      

Table 24      FLIR Systems Company Overview                          

Table 25      FLIR Systems Financial Overview