The market for electronic security was still in its infancy stage in many Middle East countries which attracted many global players to establish their offices in the region. Axis communication opened its first office in 2013 in the region.
Government continued to remain the major contributor in the real estate sector, participation by government was both through direct lending through outside market mechanism and participation of government through state controlled banking system. This helped the market to recover faster than expected; creating demand for electronic security devices in the real estate sector for both commercial and residential buildings.
Rise in demand for facilities management had also been one of the key drivers for growth of electronic security system in the region. These devices help in better monitoring the working environment to improve efficiency.
A large sum of money in electronic security is spent in tourism and related industries. Such investments include both government (securing key markets, tourist destinations and transport facilities) and private sector (hotels, spas, restaurants and recreational parks.
Rise in demand for smart home solution had a positive impact on the market as it led to demand for electronically controlled surveillance system that monitors each and every movement of the individual in an area and control the features accordingly.
In 2016, market for video surveillance retained its high market share on account of growth in demand from places experiencing significant footfall such as malls, markets, and other places of tourist destinations.
The video surveillance systems comprise of products such as CCTV cameras, which can be further classified as analog and IP-based. The fire detection systems segment is government regulated and these systems have experienced a gradual upsurge in demand as it is mandatory to deploy fire alarm systems in all commercial and residential buildings. Intrusion alert system/Intrusion alarms are most popular amongst banks and financial institutions. These products generated significant demand from residential sector.
Honeywell offers electronic security for commercial building in a wide range of products for small offices, commercial solutions and enterprise solutions. Its range of products include Video systems, intrusion alarm systems, voice alarm systems, fire alarm system and access control system along with software support of these products.
Bosch products are best suited to be used at airports, railway stations, stadiums, conventions centers, and industrial sectors.
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Ankur Gupta, Head Marketing & Communications