MIDDLE EAST AND AFRICA VIDEO ANALYTICS MARKET 2021-2028

MIDDLE EAST AND AFRICA VIDEO ANALYTICS MARKET 2021-2028

MARKET OUTLOOK

Triton's report suggests that the Middle East and Africa video analytics market is possible to surge at a CAGR of 20.40% in the forecast period 2021-2028. South Africa, Israel, Saudi Arabia, the UAE, and Rest of Middle East & Africa form the market in this region.

The United Arab Emirates has a well-developed infrastructure, robust banking system, and stable banking system. Moreover, the country strives to expand its role as a hub for wholesale and retail trade, tourism, and real estate destination. This growth in various sectors increases the need for security advancements, influencing the need for video analytics solutions. Along with this, the growth in the hospital and tourism industries is vital for the progress of the video analytics market.

Further, the government's steps to promote smart city projects focus on transforming services across various sectors, such as transportation, infrastructure, communication, and others. This will eventually offer growth opportunities to the video analytics market with the country.

Similarly, South Africa is considered to be among the best tourist destinations, contributing significantly to the economy. Moreover, the country is one of the largest employment providers globally, supporting the hospitality industry on a large scale. Here, video analytics not only enhances security, but also helps optimize the workforce. Therefore, the growing tourism is motivating the development of the video analytics market within South Africa.

COMPETITIVE OUTLOOK

Leading companies in the video analytics market include Gorilla Technology, Honeywell, Axis Communications, Bosch GmbH, Dahua, Mobotix, and IBM.