13 Dec Middle East security market set for double digit growth
The Middle East market for security, safety, and fire protection is on track for double-digit growth over the next four years, according to the latest research analysis.
Analysts Frost & Sullivan (F&S) credited the growth to increased demand from regional governments and the private sector as they both look for improved technologies to better protect assets, people, businesses, and borders.
The UAE and Saudi Arabia are some of the front runners for the Middle East and are both reportedly making rapid strides to upgrade infrastructure, security processes and systems.
Research firm 6W Research forecast the Middle East’s commercial security market to grow 16 percent a year until 2025 and its expected to reach US$8.4 billion, whilst the region’s fire and safety sector will advance 7.5 percent annually to reach $16.76b by 2026.