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Saudi Arabia Physical Security Services Market Overview
Saudi Arabia Physical Security Services market witnessed owing to the growth in oil gas sector, hotels, hospitals and commercial sector on the back of strong government support to pull up the Saudi Arabia’s economy as it’s majorly driven by oil and gas sector. rising integration of electronic security such as access control and systems, video surveillance systems, alert systems, anti-theft systems etc., in the industrial sector, commercial real-estate and residential establishments, increasing investment by the private sector in institutions, and the emergence of several construction projects in the transportation sector such as Riyadh Metro would promote the deployment of physical security services in Saudi Arabia.
According to 6wresearch, the Saudi Arabia Physical Security Services Market revenue size is projected to grow at a CAGR of 8.1% from 2022E-2028F. The market would register significant growth owing to rise in number of sport and commercial events which requires strong crowd management. Additionally, owing to growing oil and gas project the demand for manned guarding is expected to boost from oil and gas sector segment of the physical security service market in Saudi Arabia. Additionally, rise in number of luxury and first-class hotel projects along with rising residential project in Riyadh is expected to augment demand in the coming years.
Market by Region Type
Based on Region type, Central region of Saudi Arabia garnered major share in the Saudi Arabia physical security services market for the year 2021 owing to the presence of majority of the commercial complexes, sports complexes and residential sector in Riyadh. The city is being the spearhead of Saudi Arabia’s economy would lead to dominate the central region of Saudi Arabia physical security services market in the forecast period. Additionally, Riyadh is expected to launch 455 villas with an ongoing housing programme for its citizens which is augmented to drive the growth of physical security market in coming years.
Key Highlights of the Report
- Saudi Arabia Physical Security Services Market Overview
- Saudi Arabia Physical Security Services Market Outlook
- Saudi Arabia Physical Security Services Market Trends
- Saudi Arabia Physical Security Services Market Forecast
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Saudi Arabia Physical Security Services Market Ranking, By Companies
- Saudi Arabia Physical Security Services Market Drivers and Restraints
- Key Strategic Recommendations
- Historical Data and Forecast of Saudi Arabia Physical Security Services Market Revenues, By Regions, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Physical Security Services Market Revenues, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Physical Security Services Market Revenues, By Product Type, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Physical Security Services Market Revenues, By Distribution Channel, for the Period 2018-2028F
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