GCC Video Surveillance Camera Market Expected to Reach $3.9 Billion by 2033—Allied Market Research

According to a new report published by Allied Market Research, titled, “GCC video surveillance camera Market by Type, Product type, and End User: Opportunity Analysis and Industry forecast, 2024–2033,” The GCC video surveillance camera market size was valued at $1,483.0 million in 2023, and is projected to reach $3,959.2 million by 2033, registering a CAGR of 10.2% from 2024 to 2033.

A video surveillance system is a sophisticated and interconnected network of technological elements designed to observe, capture, and assess visual information within a specific setting. Comprising of surveillance cameras, recording & storage devices, and management software, these systems fulfill various roles, such as enhancing security, ensuring safety, and optimizing operational processes. Video surveillance systems provide real-time monitoring of the environment and people. This surveillance system is used to promote safety and security among the users. Next-generation video surveillance cameras are one of the most promising security solutions that have the capability of offering real-time surveillance and are superior compared to the traditional surveillance systems.  For instance, in January 2024, In January 2024, Hanwha Vision, a global vision solution provider, unveiled its extensive portfolio of AI-powered security solutions at Intersec Dubai 2024. It introduced its new and innovative products, leveraging AI to deliver enhanced security capabilities such as the AI PTZ Camera (XNP-C9310R) and 4CH AI Mini Multi-Directional Camera (PNM-16013RVQ). 

Video surveillance system helps end users to maintain flexible security solutions in the respective environment. These systems often feature advanced features such as motion detection, night vision, and pan-tilt-zoom capabilities to enhance monitoring capabilities. Through the integration of AI and video analytics, these systems enable intelligent processing of visual data, facilitating functions such as facial recognition, object tracking, and behavior analysis. Video surveillance systems are widely employed in public areas, commercial establishments, critical infrastructure, and residential spaces, serving as a proactive tool for deterrence, incident response, and data-driven decision-making. 

Video surveillance has witnessed wide acceptance and is expected to experience growth in the security service market in future. Currently, this technology is in its growing stage; however, it is expected to gain a major position in the market owing to technological developments. On the basis of features offered by the video surveillance system, it has become popular among the end users such as small and bullet cameras. Advancements in technology are anticipated to help the video surveillance cameras and accessories manufacturing companies to reduce the overall cost of production of the system. The GCC video surveillance camera market is expected to exhibit notable growth during the forecast period owing to the increased demand for enhanced security products. This is the major factor thar drives the GCC video surveillance camera market growth.

The versatile application of video surveillance systems is evident across numerous sectors, contributing significantly to heightened security, safety, and operational efficiency. In the security domain, these systems are widely utilized in public spaces, transportation centers, and commercial establishments to discourage potential threats, observe activities, and streamline responses to incidents. Retail environments leverage video surveillance for real-time monitoring and evidence collection to prevent losses. Critical infrastructure, including airports and power plants, relies on these systems to control access and ensure the uninterrupted operation of essential services. Such factors are expected to offer lucrative opportunities for the growth of GCC video surveillance camera market.

However, the considerable obstacle for the growth of the GCC video surveillance camera market is the substantial investment cost associated with its implementation. Acquiring and installing advanced surveillance cameras, storage infrastructure, and analytics software entails significant initial expenses. Moreover, the requirement for skilled professionals for system integration and ongoing maintenance adds to the overall financial burden. This poses a challenge, particularly for small and medium-sized enterprises, limiting their ability to embrace comprehensive video surveillance solutions. The continuous evolution of technology further demands regular upgrades, contributing to long-term financial commitments. 

In addition, key GCC video surveillance camera market players are using partnership as a growth strategy. For instance, in March 2024, Hikvision announced a technology partnership with Can'nX, a leading provider of automation solutions for commercial and residential buildings. This collaboration enables Hikvision technologies to be integrated with the KNX protocol with the global standard for home and building automation. In addition, integrators can enhance their building automation solutions by integrating Hikvision AI-enabled devices, such as cameras, into building systems.

Moreover, Saudi Arabia is spearheading the construction of NEOM, a new $500 billion smart city located in the northwest region. NEOM will feature automated drones, driverless cars, and various robotics, showcasing the GCC's embrace of Fourth Industrial Revolution (4IR) advancements. This proactive stance positions the region well to adapt to global economic shifts and pursue sustainable long-term growth. These factors collectively are expected to create lucrative growth prospects for the global GCC video surveillance camera market share throughout the forecast period.

Key findings of the study

• The report provides an extensive analysis of the current and emerging GCC video surveillance camera market trends and dynamics. 
• Depending on product type, the dome cameras segment was the largest revenue generator in 2023.
• By end user, industry, the commercial segment generated the highest revenue in 2023.
• On the basis of type, the IP cameras segment dominated the GCC video surveillance camera market analysis in 2023. 
• Region-wise, Saudi Arabia is anticipated to dominate the GCC video surveillance cameras market throughout the study period. 
• The report provides an extensive analysis of the GCC video surveillance camera market opportunities and emerging trends of the market. 
• The GCC video surveillance camera market forecast analysis from 2023 to 2033 is included in the report.