Market Trends of Middle East Commercial Security Industry
This section covers the major market trends shaping the Middle East Commercial Security Market according to our research experts:
Growing Investment in Infrastructure is Expected to Cater Market Growth
The Middle-East is continuously preparing for many infrastructure changes and smart city projects. High demand for advanced security solutions with streamlined video surveillance and access control integration will be the key emerging trend in this region.
Because of the huge volume of commercial development, the demand for security equipment is on the rise in the region. Furthermore, as infrastructure develops, the number of people in malls, hotels, and amusement parks will expand, resulting in a greater demand for different security devices.
In February 2022, the prime minister of UAE announced the USD 10 billion investment in Israeli companies in the field of energy, industry, infrastructure, water use, space, and health to benefit the people of the Middle-East and advance the whole region.
UAE is Expected to Grow Significantly During the Forecast Period
During the first quarter of 2022, the Dubai real estate market witnessed an increase in new project launches as the emirate emerged as a favorite destination for high-net-worth individuals, including millionaires and entrepreneurs, following the COVID-19 pandemic.
The number of new project announcements during the January-March quarter exceeded pre-pandemic levels, demonstrating the market's optimism. During the quarter, around 25 new projects totaling 6,677 residential units were announced to meet expanding demand in Dubai.
Furthermore, according to the Ministry of Industry and Advanced Technology, the rise in industrial export from UAE has surpassed the historical high in 2021 compared to 2020 to USD 32.6 billion as 220 factories opened across the country. This shows the growth of the industrial sector, which is expected to add to the demand for surveillance and security systems during the forecast period.
