Share of access control devices is expected to increase in future as smart technologies and building management system gain importance.
Improving technology and customer willingness to pay premium for quality products will help in augmenting market revenue.
Government keen interest to sustain the economic growth by diversifying industry base will lead to investment in electronic security market. This will create growth opportunities for all type of electronic devices in UAE.
UAE Electronic Security market is on the cusp of new age development with the ongoing infrastructure investment in Dubai and Abu Dhabi. Project related surveillance investment in the UAE will lead the market. Traffic monitoring will be the key driver for demand of CCTV cameras in the future as Dubai is slowly becoming a world class city attracting people from across the globe. With rising population, traffic management is expected to create problem for new and emerging cities creating demand for CCTV based management as smart technologies have emerged which work with minimum human interference.
Investment from UAE government, law enforcement agencies and private companies are allocating more budgets to control terrorist attacks. New technologies such as 4K technology bring industry leading clarity and sensitivity to critical video monitoring and surveillance systems. Explosion-proof cameras are an important solution in areas which are on high risk.
Easing restrictions on foreign lenders, private sector involvement in the financing and construction of education infrastructure, security for small and medium businesses are some other key factors that may have positive impact on the market creating additional and replacement demand in the future, according to the Analyst at Ken Research.
Ken Research in its latest study, UAE Electronic Security Market Outlook to 2021 suggested Bosch and Honeywell will continue their dominance but have to face fierce competition and an expected price war with Chinese counterparts. Global companies such as Unilever, Ashok Leyland, and others have plans to start manufacturing plant in the UAE to take advantage of tax benefit and other incentives offered by the government to diversify its economy which lead more spend on intrusion alarm, access control and fire alarm industry.
Middle East electronic security market is estimated to register a positive CAGR during 2016-2021. Future mega events, such as the 2020 World Expo and the 2022 Football World Cup, crowd control and traffic management is expected to be key drivers for spiked demand for electronic security equipments in the region. Regulation regarding installation of electronic security in other countries such as Oman, Turkey, Kuwait and others is expected to create additional demand in future.
The report provided information on CCTV (Analog, Digital), Fire Alarm, Access Control Devices (Biometric Based , Card Based, Pin Based), Intrusion Alarms (Motion Alarms, Seismic Alarms, Infrared Beam Alarms) segments covering companies including Bosch, Honeywell, Hikvision, Axis Communications, Pelco, Siemens, Tyco.
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Ankur Gupta, Head Marketing & Communications