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GCC Home Security Systems Market Strengthened by Favorable Government Policies

January 02, 2019 | Technology & Media

According to the latest report by IMARC Group, titled “GCC Home Security Systems Market Report by Residence Type (Independent Homes, Condominiums, Apartments), Product Type (Video Surveillance, Intruder Alarms, Fire Protection, Access Control, and Others), Sensor Type (Wireless Sensors, Wired Sensors), Installation Type (Professional Installation, DIY Type Installation), and Country 2024-2032”, the GCC home security systems market size reached US$ 645.5 Million in 2023. A home security system is a combination of software and hardware devices that are designed for detecting and preventing intrusion or unauthorized entry of unknown people or burglars. It is mainly installed at entry points, like doors and windows, or interior spaces where valuable items are stored. The market for home security systems in the GCC region experienced a negative growth in 2014, however, with strong economic growth, the demand for these systems has flourished since then.

GCC Home Security Systems Market Trends:

With increasing terrorist threats and security concerns, the governments of several countries in the GCC region are introducing laws for making the installation of home security systems mandatory in the residential and commercial sectors. For instance, the Government of Saudi Arabia has made it compulsory for residents to install surveillance cameras in their homes so as to protect them from theft and other crimes. Apart from this, the prices of home security systems are decreasing, owing to which, they are becoming affordable for a larger section of the population. Further, manufacturers are incorporating advanced technologies in these systems in order to widen their user base. On account of these factors, the market value is expected to grow at a CAGR of 16.8% during 2024-2032.

Market Summary:

  • Based on residence type, the GCC home security systems market has been segregated into independent homes, condominiums and apartments. Amongst these, independent homes dominate the market, holding the largest share.
  • On the basis of the product type, video surveillance represents the most popular type of home security system as it offers optimum vigilance for both domestic and commercial purposes. Other segments include intruder alarms, fire protection and access control and others.
  • On the basis of sensor type, the market has been bifurcated into wireless and wired sensors. Due to rapid technological advancements, wireless sensors account for the dominant market share.
  • Based on installation type, the GCC home security systems market has been divided into professional and DIY type installation.
  • Region-wise, the market has been segmented into Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. Currently, Saudi Arabia and the UAE account for the majority of the market share owing to rising security concerns in these countries.
  • The competitive landscape of the market has also been examined in the report along with a detailed list of the key players.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Residence Type, Product Type, Sensor Type, Installation Type, Country
Countries Covered Saudi Arabia, UAE,Qatar, Oman, Kuwait, Bahrain
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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