A new report reckons homeland security to be one of the fastest developing markets in the Middle East due to the initiatives taken by government and private organizations. Witnessing a wide adoption of solutions across the region the research predicts that the homeland security market in the Middle East is expected to grow at CAGR of 14.6% for the period of 2016-2022.
Infoholic Research LLP in its recent study “Homeland Security Market in the Middle East – Trends & Forecast – 2016-2022” writes that, the presence of major importers of oil and gas in these region demands attention towards security measures. Also, the need for effective command, control, recovering the information from terrorists and effective immigration will foster the growth of the market. Increase in cyber-attacks is another reason to call for engagement of solution providers in this region. Due to this wide demand, solution providers are eyeing opportunity to enter the homeland security market and capture the untapped region.
“Saudi Arabia, UAE, Turkey, and Qatar, being the key potential countries, are driving the homeland security market in the Middle East region. Predominantly the factors driving the growth are positive economic growth/changes, large-scale infrastructure engineering such as smart cities projects, intelligent transportation, travel & tourism, upcoming Dubai EXPO 2020, and FIFA World Cup 2022 in Qatar,”said Tariq Shaik from Research Operations of Infoholic Research.
“Homeland security market in the Middle East is drastically changing due to the presence of global vendors and is also increasing demand for security. Moreover, the nuclear and radiological threats will drive the investment in CBRN solutions in next three to four years,”said Preeti Wadhwani, Senior Research Analyst.
The investment in infrastructure is highest in the Middle Eastern countries, especially in UAE, Turkey, and Saudi Arabia which will drive the market for CIP solutions. However, cyber security solutions hold majority of the share in the homeland security market. It is expected that countries such as Iraq and Egypt will also start spending on Homeland Security by 2020. Countries such as Oman are considered the most established for protecting its homeland. The other countries such as Kuwait, Iraq, Iran, and Saudi Arabia will focus more on sensitive land borders.
Lastly, the report asserts on the nuclear security which is expected to increase and reach around $0.70 billion by 2022 with terrorist organizations growing use of nuclear bombs.