Staff Report
HSD International, a new security services provider, has launched its operations in Dubai to meet the growing needs of physical security services in the Middle East which is estimated to reach $23 billion in the next four years.
The rapidly transforming economies of the region have witnessed a surge in demand for the latest safety and security solutions, according to new research.
Analysts, 6Wresearch, noted that the regional market for physical and perimeter security is expected to grow at a CAGR of 13.5 per cent between 2018 and 2024, by when it is estimated to be worth $23 billion.
The HSD International launching ceremony was attended by Dr Yaqoub Mousa, Chairman of Bu Abdullah Group of Companies; Main Munir Hans, President, PPP Gulf region; Pramod Gupta, CEO, Hunter House Media and other top officials of the new company in Dubai.
Talking to the media Shayam Thapa, CEO, HSD International echoed that his new company is dedicated to providing leading security services and solutions within the UAE in order to create a safer environment
and enhance the quality of life, for the local and international communities living in the UAE.
“The UAE is building its economy on the strength of tourism and influx of tourists to the country, which means more hotels, more entrainment sites and more security, surveillance and monitoring,” he added.
Malik Shehroz Chuhan, a top official at the company, mentioned that his company has currently hired 40 employees from different nationalities across the UAE and they are planning to expand their workforce in the coming years as there is a need for security solutions and secure players in the market.
It is estimated that the Middle East’s commercial security market will be worth $8.4 billion (Dhs30.85b) by 2025, and will demonstrate a 16 per cent compound annual growth rate (CAGR) over the next two and a half decades, according to the 6W Research report.
According to the report, growth in the commercial security market is being driven by increasing infrastructure developments in the region and stringent regulatory policies. These are fuelling demand for super-smart & high-tech surveillance, access control, and intrusion detection solutions.
The bulk of demand for these solutions is rising from Saudi Arabia (29.9%), followed by the UAE (24.7%), and Kuwait (7.2%), the report states.
Video surveillance systems are leading current demand, with research pointing to the potential for advanced technology solutions.
“The segment is expected to continue its dominance as governments in the region are putting special focus on the installation of video surveillance systems across the Middle East,” the report said.
“Increasing adoption of IP surveillance, video analytics, and smart storage would further push the segment growth in the coming years,” it added.
