Saudi Arabia Security Services Market Was Valued At US$ 7.54 Billion In 2023 Astute Analytica

(MENAFN- EIN Presswire)

CHICAGO, CA, UNITED STATES, September 23, 2024 /EINPresswire / -- The Saudi Arabia security services market is poised for significant growth over the next decade, with its market size anticipated to nearly double, rising from US$ 7.54 billion in 2023 to an impressive US$ 14.59 billion by 2032. This robust expansion, driven by a compound annual growth rate (CAGR) of 8.1%, underscores the increasing demand for comprehensive security solutions across various sectors in the kingdom.

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The market's growth is fueled by rising concerns over safety, the government's push for enhanced infrastructure protection, and the increasing adoption of advanced technologies like AI-driven surveillance and cybersecurity solutions. Saudi Arabia's Vision 2030 initiatives, which aim to diversify the economy and invest in critical sectors, have also catalyzed the expansion of the security services industry.

Key players in the Saudi security services sector are focusing on expanding their offerings, leveraging cutting-edge technologies, and forming strategic partnerships to enhance security solutions across residential, commercial, and governmental sectors. Services ranging from manned guarding, electronic security, to specialized security services are gaining momentum as businesses and institutions in the region prioritize safeguarding assets and people.

.AARMTech
.APSG
.Axis Communications AB
.Choice Saudi
.Cisco Systems, Inc.
.CNSS
.Genetec, Inc.
.Hangzhou Hikvision Digital Technology Co., Ltd.
.Honeywell International Inc.
.Johnson Controls
.Robert Bosch GmbH
.RSTS
.SAS Systems Engineering
.TSS
.Other Prominent Players

The demand for cybersecurity services has particularly surged, as organizations look to protect themselves from the increasing risk of cyber threats in an ever-connected digital landscape. Additionally, the growth of critical infrastructure projects in the energy, transportation, and healthcare sectors is also boosting the need for reliable and efficient security services.

Market Highlights:

Market Size (2023): US$ 7.54 billion
Projected Market Size (2032): US$ 14.59 billion
CAGR (2024–2032): 8.1%

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Market Segmentation Overview:

By Type

.Physical Access Control Security
oPhysical Access Control System
oCCTV and Video Surveillance System
oPerimeter Intrusion and Detection
oPhysical Security Information Management
oFire Detection
oFire Alarm Systems
oFire Suppression Systems
oTechnical Surveillance Countermeasures (TSCM)
oOthers
.Manned Guarding Security Services
oSecurity Risk Assessments
oMobile Patrol and Surveillance
oTraffic Control Services
oProtective Services
oCash In Transit
oVIP/Close Protective Services
oEvent Security
oPolice Support Service
oCrowd Management
oOthers
oFire & Safety Risk Assessments
.Digital Security Services
oRemote Monitoring Services
oSecurity System Integration Service
oCybersecurity Risk Assessments
oFirewall Management
oIntrusion Detection and Prevention
oContinuity Management
oInformation Security
oOthers
.Occupational Safety and Health (OSH) Services
oWorkplace Safety Audits and Inspections
oEnvironmental Compliance
oEmergency Response Planning
oOthers

By Enterprise Size

.SMEs
.Large Enterprises

By Industry

.Transportation
.Government
.Banking & Finance
.Utility & Energy
.Residential
.Industrial
.Hospitality
.Others

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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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