30 Apr Ring taps into Kuwait’s growing home security market with new deal
Home security specialists Ring has announced a partnership agreement with X-cite by Alghanim Electronics, Kuwait’s largest electronic retailer, to distribute Ring’s products for the growing home security market in Kuwait.
Mohammad Meraj Hoda, vice president – Business Development at Ring said, “Ring’s mission to reduce crime in neighborhoods drives every decision we make. By offering affordable, easy-to-use, and effective devices and services that can not only help solve crime but prevent it from ever happening, Ring is changing neighborhood security as we know it today. We’re looking forward expanding to Kuwait and look forward to making a positive impact on neighborhood crime.”
He went on to say, “X-cite by Alghanim Electronics has been providing technology-driven business solutions in Kuwait controlling more than 70% of the market share when it comes to consumer electronics distribution, and home security products and solutions are a natural extension to their product offering. Ring is looking forward to working with X-cite by Alghanim Electronics to address neighborhood and home security needs by extending our product offerings through internet service providers, online retailers, system integrators, Internet service providers and brick and motor channels where they have very strong relationship.”
Vice President of Electronics Alghanim Industries, Fernando Vicente Lopez said: “Under the Kuwait 2035 vision there are huge opportunities for the housing sector to grow and develop and we believe that the Internet of Things is set to disrupt the way we live. Homes are going to get ‘smart’ with connected products offering endless possibilities to make our lives easier, more convenient, and more comfortable. The awareness and demand for smart entry devices, such as smart doorbells that keep families, neighborhoods and communities safe are growing and therefore we believe that our partnership with Ring is a perfect fit. We see exciting new possibilities in this partnership with Ring across the country and it will help X-cite by Alghanim Electronics to better address our customer’s needs in today’s environment of ever-increasing demand for neighborhood and home security solutions.”
As the value-added distributor in Kuwait, X-cite by Alghanim Electronics will promote Ring’s latest suite of home security products such as the Ring Video Doorbell, Ring Video Doorbell Pro, Ring Video Doorbell Elite, Ring Floodlight Cam and the Ring Spotlight Cam and conduct channel engagement, training and activation programs for partners. X-cite by Alghanim Electronics will also set up go-to-market strategies with key retail partners and provide the needed infrastructure for micro-channel to engage with the Ring brand.
Recent studies regarding the real estate market indicatethat the Gulf countries in general and Kuwait in particular are likely to be the most advanced with respect to establishing smart homes as a result of the level of constructional development in this region. The Middle East smart homes industry is projected to grow at an annual rate of 28.73%, in value terms, during 2016 – 2022 owing to high GDP per capita income and growing awareness about smart homes solutions and energy efficiency.
According to projections by Statista,a leading provider of market and consumer data, the market size for smart security and access systems for homes in Kuwait will total $11 million by 2022.Moreover, the growth in Internet of Things (IoT) and government initiatives towards smart city is expected to boost the demand for smart home solutions across Kuwait.