A growth in Kuwait’s video surveillance market was reported, resulting from an escalating demand for IP cameras and increasing penetration of video analytics software. Furthermore, the expansion of construction activities, terrorist threats, coupled with the increased IT spending buoyed the overall growth of the electronic security market in Kuwait. The construction of three new cities also subsequently increased the demand for electronic security systems, predominantly video surveillance systems, as well as network access control systems.
A growth in Kuwait's video surveillance market was reported, resulting from an escalating demand for IP cameras and increasing penetration of video analytics software. Furthermore, the expansion of construction activities, terrorist threats, coupled with the increased IT spending buoyed the overall growth of the electronic security market in Kuwait. The construction of three new cities also subsequently increased the demand for electronic security systems, predominantly video surveillance systems, as well as network access control systems.
According to 6Wresearch, Kuwait's video surveillance systems market is estimated to register a growth of five percent in 2015, citing security concerns over rising terrorist threats, increasing IP infrastructure, construction of various public infrastructures, in conjunction with hospitality and retail sectors as growth drivers.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, Kuwait's video surveillance market showed a sharp decline in the overall shipment for analog video surveillance cameras on account of increasing penetration of IP technology. IP video surveillance cameras also dominated the demands from the commercial sector.
"Furthermore, demand for IP video surveillance systems to continue to proliferate in the coming years, owing to construction of three new cities. Kuwait likely to spend nearly $90-100 billion on the upcoming Silk City (Madinat Al-Hareer) project, subsequently triggering the growth for IP technology based surveillance security systems," Samuel further added.
According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, Kuwait's video surveillance market is witnessing a growing trend of hybrid video surveillance solutions and the emergence of smart homes, resulting in a steep increase in network electronic security solutions.
The Al-Kuwayt governorate region, being the largest commercial hub in Kuwait, held the largest revenue share in the overall video surveillance market in Kuwait, followed by Al-Farwaniya and others. Some of the other companies in Kuwait's video surveillance market include: Axis Communications, Bosch Security Systems, Hikvision, Honeywell, Pelco by Schneider Electric, and Samsung Techwin.