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Saudi video surveillance market on the up as oil prices recover
2017/11/10
Nov 08, 2017
Despite registering a decline over the last couple of years, the video surveillance market in Saudi Arabia is once again experiencing an upswing according to a new report from market analysts, 6W Research.
 
A drop in oil prices and government spending cuts brought several major infrastructure projects to a halt between 2014-16. As oil prices recover so will the surveillance market which is expected to reach $163 million by 2023 - boosted by the fact that the government has mandated compulsory installation of video surveillance systems in major verticals.
 
Prijo Samuel, assistant research manager, research and consulting, 6Wresearch, “Under Vision 2030, the Saudi Arabian government has passed a plan to invest in the infrastructural development and to allow FDI in commercial and retail sectors which will result in major expansion of infrastructure.”
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