Security camera market to grow more than 30%

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Analysts and suppliers are confident of unrivalled growth in the Middle East's surveillance market.

A leading expert has said that the Middle East's video surveillance market will buck global trends and provide a boom in opportunities for vendors and suppliers.

Speaking at Intersec, Alistair Hayfield, research analyst for IMS Research, said that the Middle East's video surveillance market would have the highest level of growth in the world, with growth projections of more than 30% for the next five years.

"2007 was a very strong year for video surveillance, with a likely global downturn in 2009," said Hayfield. "However, IMS forecasts high growth in the Middle East."

Hayfield said that in particular, the education and transport sectors would see increased grow, driven by government investment, while globally, growth of video surveillance in banking was set to slide down to 2%.

He also identified the global slowdown as potentially stimulating demand for video surveillance. "Retail theft increases in times of hardship and retailers may expand video surveillance if there is a good return on investment," said Hayfield.

Suppliers and manufacturers have echoed Hayfield's optimism. "If you talk to the professionals around here, no-one seems to be very upset by the crisis. If there's a region that will survive, it's this kind of market. Mature markets may suffer a bit more, but it's growing in places like here," said Gilles Ortega, regional manager, Axis Communications.

The predicted boom is already attracting new companies into the region. US-based IQinVision was capitalising on new opportunities in the Gulf.

"This is a new region for us so we're finding out what the markets needs are. We're getting a lot of great feedback, and we're going to be here a bit more often," said Dawn Miller, marketing programmes specialist, IQinVision.

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