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security
technology market
sion for the category. What 4G
and battery power enables is the
further evolution into truly port-
able home monitoring. Start-up
Link-U along with Panasonic's
Nubo are vying to be the first to
offer portable home monitoring
when shipments start later this
year. "Nubo's IP66 rating will al-
low for use outdoors, an advantage
over Link-U and current Dropcam
models. Concepts such as the Flir
FX, which combines a portable
home monitoring camera with
both a dashboard and action
camera, could be a glimpse into
another potentially interesting
direction for the category." says
Josh Woodhouse, senior analyst at
IHS Inc.
Panasonic recently launched the
Nubo, which it claims is the
world's first 4G home monitoring
camera and with the proliferation
of standalone network cameras,
this category has evolved beyond
just security.
Cameras in the home are
very much lifestyle products that
invoke consumers to regularly
check-in at any detected change
in environment, whether this is
checking if the kids are home
from school, or if their pets are
okay. The regular events detected
by cameras' sensors or connec-
tions with other non-video devic-
es means higher user engagement
with the camera. This can justify
potentially lucrative cloud storage
add-on fees, which according
to IHS made Dropcam such an
attractive buy for Google's Nest
Labs. The active monitoring
approach is a stark contrast to
the closed circuit (CCTV) ana-
logue camera and DVR systems
available in many DIY stores.
These systems are traditionally
installed and left running until
there is an event noticed by
the user which requires a video
review. Nevertheless, there will
remain a large market for this
type of equipment for more
of a passive security conscious
consumer.
The addition of 4G con-
nectivity of consumer network
cameras was a natural progres-
Homevideomonitoringontherise
Wellingborough, Northants (UK)
Consumer awareness of video surveillance and home
video monitoring is increasing. This has been helped
by the exposure Dropcam has provided the category.
Retailers are taking note and network cameras are
increasingly present on the shelves and webpages of
many stores. IHS forecasts over 11 million consumer
and dIY network cameras will be shipped worldwide
in 2015.
Cameras in the home are very much lifestyle products that invoke consumers to regu-
larly check-in at any detected change in environment, whether this is checking if the
kids are home from school, or if their pets are okay.
Political issues
can affect growth
Further, one key challenge faced
by the market is the high depend-
ence on imported equipment.
Most of the defense equipment
and security systems and weapons
in Saudi Arabia are imported from
the US, Russia, France, and the
UK. This dependency can affect
the growth of the Security sector
in the Kingdom of Saudi Arabia
through delays, price hikes, or
even small political issues between
the countries.
The threat of terrorism
Saudi Arabia is one of the world's
fastest growing markets for safety
and security solutions. According
to Companiesandmarkets Saudi
Arabia has invested a huge amount
of money for the safety and secu-
rity of the nation as the govern-
ment's major concern is to protect
the country from terrorism. The
country has also invested a huge
amount of money to import weap-
ons from countries such as the US,
Russia, France, and the UK, which
is expected to grow further.
Analysts from research company
Companiesandamarkets have
recog nised the following com-
panies as the key players in the
Security Sector in Saudi Arabia:
BAE Systems, Boeing Co., Gen-
eral Dynamics Corp., Lockheed
Martin Corp. and Raytheon Co.
Other Prominent Vendors in
the market are: Advanced Elec-
tronics, Alsalam Aircraft, EADS,
Northrop Grumman, Sikorsky
Aircraft and Thales.
Increasing investments
One major trend emerging in the
market according to the report
is the high investment in safety
and security equipment. As the
defense budget of Saudi Arabia is
increasing significantly, its foreign
collaborations for military affairs
are also increasing. Saudi Arabia
imports defense equipment mainly
from the US, Russia, France, and
the UK
A major driver in the market is
the flourishing economy and in-
frastructure. The majority of Saudi
Arabia's revenue is dependent on
oil exports; therefore, its economy
is financially strong. A flourishing
economy mandates the need for
security, which drives the country
to invest extensively in the import
of defense equipment.
SecuritymarketinSaudiArabia
toshowgrowthof11.35%to2018
London, UK
Analysts forecast that the Security sector in Saudi
Arabia will grow at a CAGR of 11.35 percent over the
period 2013-2018.
Saudi
Arabia is
one of the world's
fastest growing
markets for safety
and security solu-
tions.
11,35%
to
2018