Qatar Physical Security Services Market report comprehensively covers the market by service types, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/ high growth areas, market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
Qatar Physical Security Services Market Synopsis
Qatar physical security services market grew at a considerable rate in recent years owing to the remarkable jump in the oil & gas sector, hotels, hospitals, and commercial sector on the back of strong government support to pull up Qatar’s economy as it’s majorly driven by petroleum sector.
However, the spread of COVID-19 led to an overall economic slowdown across the country, as a result of a fall in oil prices, a complete shutdown of the commercial sector and businesses which further declined the government revenues and had an adverse impact on the ongoing investment sizes and activities in domains such as oil & gas, commercial sector, energy, and telecommunication, thereby leading to falling demand for physical security services during the lockdown period in the year 2020. However, the market is expected to regain its momentum in the coming years on account of reviving economic activities such as business, trade, industry, and construction owing to the upcoming FIFA world cup 2022 along with Qatar Vision 2023, which would increase the demand for physical security such as manned guarding and CCTV surveillance, thus propelling the growth of the physical security services market in near future.
According to 6Wresearch, Qatar Physical Security Services Market size is projected to grow at CAGR of 13.3% during 2021-27. Qatar physical security services market is in the later growth stage of the industry life cycle and is anticipated to witness a burgeoning demand during the forecast period, on account of upcoming sports events and development of high-quality critical infrastructure. Further, due to expansion in aviation and natural gas sector, simultaneously hotels and hospitals for upcoming FIFA World Cup 2022 would create more growth opportunities for the physical security service market in Qatar.
Market Analysis by Service
By service types, manned guarding bagged the highest revenue share in 2020 with a CAGR captured around 13.1% for the year 2020. Since the requirement of guards is immense in events such as Asian Triathlon Cup, Qatar 7th International Cup- Weightlifting, FIFA World Cup 2022, etc. in comparison to CCTV & electronic security system. However, CCTV & electronic security system market is also expected to surge at a significant rate in the forecast period owing to an increase in the number of villas & apartments, more convenient usage, and 24×7 surveillance service with video recordings.
Market Analysis by Application
based on application, oil & gas, event and commercial segment have a cumulative market share of around 70% in the market revenues in 2020. Oil & gas registered the highest share for the year 2020 on account of expansion in North field project, Qatar gas plants, etc. Further, in forthcoming years, commercial sector would witness a significant growth in the forecast period on account of increase in office spaces and rise in number of enterprises such as Dubai Doha towers, QIMC tower, etc. simultaneously, events sector would also augment in the coming years due to the upcoming FIFA world cup, Expo 2023 Doha, etc.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Qatar Physical Security Services Market Overview
- Qatar Physical Security Services Market Outlook
- Qatar Physical Security Services Market Forecast
- Historical Data and Forecast of Qatar Physical Security Services Market Revenues for the Period 2017-2027F
- Historical Data and Forecast of Qatar Physical Security Services Market Revenues By Service Types, Applications and Regions for the Period 2017-2027F
- Market Drivers
- Market Restraints
- Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Player’s Revenue Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereport provides a detailed analysis of the following market segments:
By Service Types
- Manned Guarding
- CCTV & Electronic Security System
- Others (Cash in-Transit Traffic Management etc.)
By Application
- Commercial Sector
- Residential Sector
- Oil & Gas
- Events
- Others (Banking Institutions Ministry etc.)
By Regions
- Northern Region
- Southern Region
