The Middle East market is set for continued growth in 2014, with the U.S. easing its economic sanctions on Iran, opening up new opportunities for the Iranian economy. Countries like Iraq and Oman are also benefiting from their rich oil and gas resources, making the region an attractive destination for multinational suppliers. The UAE remains the financial hub of the Middle East, and with the upcoming Dubai World Expo 2020, the city is expected to become a major economic center. Its security market has seen rapid development, driven by strict government regulations that require safety measures across various industries such as hospitality, retail, education, and banking.
Mr. Hayashi highlighted that the UAE has established high standards for video surveillance, with HD and megapixel cameras, along with 180-day video storage, becoming the norm. Balaa Al Akkad from Axis Middle East noted that government oversight has led to advanced network-based surveillance systems being widely adopted. In Abu Dhabi, the latest regulations mandate that all public and private schools be equipped with megapixel cameras covering key areas like sports fields, corridors, and classrooms. Access control systems are also required in staff offices and laboratories. Additionally, school buses must have mobile DVRs, vandal-proof cameras, and GPS navigation. Samsung’s solutions meet these requirements with features like wide dynamic range, video analytics, and integration with access control systems.
Oman, Bahrain, Iraq, Iran, Pakistan, Lebanon, and Jordan are emerging markets attracting suppliers due to their booming oil and gas sectors. Gharbiah mentioned that Oman has numerous infrastructure projects, including oil and gas, airports, and transportation, with fast-track government approvals. Iraq, with its vast oil and gas industry, has seen significant investment, with companies deploying thermal imaging cameras for refinery and pipeline projects.
As U.S. sanctions on Iran ease, the country's economy is expected to recover in 2014 or 2015. Hayashi noted that previous restrictions limited technology imports, but the new government brings hope. With over 90 million people and top-five oil and gas reserves, Iran presents a promising market. Stefano E Cini from Vineo Systems added that growing awareness of IP-based technologies among system integrators and users is laying a solid foundation for the expansion of IP surveillance in the region.
VIVOTEK has a strong presence in the Middle East, especially in Iran’s banking sector. Chen Wanli from Jing Rui Communications believes that with the new Iranian government and gradual economic liberalization, the market will see improved business conditions.
While the Middle East offers many opportunities, challenges remain. Conflicts in Syria and Egypt, along with economic pressures from the U.S. and EU, make the region’s future uncertain. However, with global events driving demand, the market is expected to grow significantly over the next seven years.
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