The MENA physical security market is expected to grow with a robust CAGR of more than 7% during the period 2022-2028. The regional physical security market is estimated at US$ 1.8 billion in 2022. The market of the region is mainly driven by increasing construction activities, increased number of commercial facilities, growing smart city projects, and growing theft, burglaries, and terrorist activities.
The video surveillance segment is expected to dominate the market throughout the forecast period owing to the heavy investments made by government entities to deploy cameras across the facilities. The commercial end user segment led the MENA physical security market in 2019 and will continue to lead the regional market during the forecast period. The large demand for physical security solutions is mainly attributed to the increased number of offices and corporates, HoReCa facilities, malls, and hospitals coupled with ongoing commercial construction activities.
Physical security market growth reinforce by the strong growth of residential and commercial construction activities and relevant developments
The MENA construction industry is valued at nearly US$ 1.5 trillion in 2021, dominated by Saudi Arabia, Turkey, and UAE. The region accounts for nearly 10% of the global construction industry value added. Regional growth is mainly driven by widespread enhancements to the construction sector and digital transformation in the region.
According to RationalStat’s estimate, the Middle East & Africa construction sector is set to record an annual growth rate of 6-7% by 2028. The overall construction industry in the Middle East and North Africa (MENA) in 2021 and in the coming years is expected to register real growth of about 4-5% during 2022-2028. In 2021, the MENA construction industry reported a record of more than US$ 156 billion worth of projects.
The construction market in North Africa is booming due to several active high-value projects launched in the region. Investments by China-based firms in the region play a pivotal role in the development of the construction industry. Peaked construction activities in the MENA region especially in GCC countries during recent times have surged the demand for physical security solutions in the region. A significant increase in the number of commercial facilities such as malls, hospitals, and corporate offices across the MENA region has further fueled the demand for physical security solutions in recent times.
The physical Security Market is dominated by Saudi Arabia in the GCC, with an estimated share of 54% in 2022, driven by heavy investment in the country’s construction sector
The growth in spending by government bodies across the region on the installation of new physical security systems such as video surveillance, access control & others in government offices & public facilities is anticipated to provide growth opportunities to the MENA market. This increased spending on physical security by government entities can be attributed to the growing security concerns due to the increasing theft, burglaries, and terrorism. GCC leads the MENA physical security market with approximately 33% market share in 2022, followed by North Africa (29%).
Video surveillance systems are expected to spearhead the GCC physical security market during the forecast period. In GCC, by 2028, Saudi Arabia is expected to dominate the market with around 54% share followed by UAE, Qatar, Kuwait, Oman, and Bahrain. Increasing security spending coupled with a growing construction industry is likely to drive Saudi Arabia’s market growth over the forecast period. Moreover, in Turkey, the significant increase in the activities of thefts, burglaries, and increased crime rates has surged the necessity for in-depth physical security solutions. Oil & gas industries and strategic industries in Iraq and Israel to provide the thrust to the physical system market during the assessed period.
Key Market Segmentation
Rationalstat has segmented the MENA Physical Security Market on the basis of type, end user, sales channel, and region.
- By Type
- Video Surveillance
- Camera
- IP Camera/Network Camera
- Analog Camera
- CCTV Monitor
- Access Control Systems
- Readers
- Biometric (incl. Fingerprint)
- Keypads
- Video Intercoms
- Electric Strikes
- Fire & Life Safety
- Smoke and Heat Detectors
- Temperature Sensors
- Flood/Water Detectors
- Intrusion and Perimeter Security Systems
- Intruder Detection & Alarms
- Security Lighting
- Barriers
- Gates and Parking Barriers
- Road Blockers
- Bollards and Others
- Video Surveillance
- By End User
- Commercial
- Industrial
- Infrastructure
- Households
- Municipalities
- Energy
- By Sales Channel
- Offline
- B2B
- B2C
- Online
- Offline
- By Region
- Middle East (ME)
- GCC
- Turkey
- Rest of ME
- Israel
- Iraq
- North Africa (NA)
- Egypt
- Morocco
- Algeria
- Rest of North Africa
- Middle East (ME)
Read Our Latest Report: https://store.rationalstat.com/store/middle-east-north-africa-ai-software-market-analysis-forecast/
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for physical security system providers, manufacturers, service providers, camera companies, bollards manufacturers, access control system companies, fire & safety equipment manufacturers, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The MENA Physical Security market is expected to grow at a CAGR of more than 7% from 2022-2028.
Saudi Arabia leads the MENA Physical Security Market in 2022.
The market value of the MENA Physical Security market was US$ 1.8 billion in 2022.
- Construction industry growth.
- Regulations and security concerns.
- More awareness of the utilities of physical security systems.
Leading companies operating in the MENA Physical Security market are FOSS LLC, Alpha Data, Emtech, Eumecon IT Systems, Hikvision, Bosch, iSecure, NAFFCO, Metallic Equipment Technologies, Febno Technologies, etc.