Nuclear Security expected to reach $0.70 Billion by 2022
Dubai EXPO 2020, FIFA World Cup 2022 positively impacting growth for Homeland Security market in Middle East
Infoholic Research LLP, a global ICT market research and consulting organization, recently published a study titled “Homeland Security Market in the Middle East – Trends & Forecast – 2016-2022”. Infoholic predicts 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
“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.
The presence of major importers of oil and gas in this 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.
“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. The nuclear security is expected to increase and reach around $0.70 billion by 2022 as reportedly lots of terrorist organizations have started to use nuclear bombs.
The report aims to highlight key insights from vendors and end users. It provides an in-depth analysis and forecast about the industry covering the following key features:
This report talks about the major threats in the Middle East and also, how the organizations are considering this opportunity to come up with new software and solutions
The report not only talks about the challenges faced by the vendors but also brings the trends that might reduce the challenges
This market has been analyzed by taking into account key countries, i.e. UAE, Saudi Arabia, Qatar, Kuwait, Oman, Turkey, Jordan, Israel, Bahrain, and Yemen. The segmentation covered in the report are Cyber security, CIP, CBRN, Transportation, Mass Transit, and Emergency Response
Analysts have rated top 5 vendors according to the revenue generation from Middle East countries
Stakeholders’ insights and key trends (current and future) of the Market