The Latin America, Middle East and Africa Smart Security Market would witness market growth of 13.8% CAGR during the forecast period (2023-2030).
Edge computing employed to process data closer to the source (at the network's edge) rather than relying solely on centralized cloud servers. This helped reduce latency and improve real-time processing in these applications. Mobile applications for security management becoming more sophisticated, allowing users to monitor and control their security systems remotely through smartphones and tablets. These systems are widely used in homes for monitoring and protecting against intrusions. This includes smart doorbell cameras, smart locks, motion sensors, and integrated home security systems that can be monitored remotely.
Healthcare facilities use these solutions to ensure the safety of patients, staff, and sensitive medical equipment. Access control, surveillance, and RFID-based tracking systems contribute to enhanced security. The banking sector employs these measures to protect financial transactions, secure ATMs, and monitor bank branches. Biometric authentication and advanced access control systems are often implemented. These solutions are employed in transportation hubs, airports, and logistics centers to monitor people, vehicles, and cargo.
Saudi Arabia's Vision 2030 outlines ambitious economic diversification and technological advancement goals. The vision emphasizes the importance of a secure and safe environment, driving investments in these technologies in Saudi Arabia. Saudi Arabia is investing in developing smart cities, such as NEOM and the King Salman Energy Park (SPARK). These smart city projects integrate advanced technologies, including these solutions, to create sustainable and secure urban environments in Saudi. Saudi Arabia fosters a culture of innovation, leading to the adoption of cutting-edge technologies. With the increasing convergence of physical and cybersecurity, Saudi Arabia emphasizes the integration of cybersecurity measures into these systems. Due to these aspects, the market will expand across the LAMEA region in upcoming years.
The Brazil market dominated the LAMEA Smart Security Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,875.8 million by 2030. The Argentina market is showcasing a CAGR of 14.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 13.5% during (2023 - 2030).
Based on Protocol, the market is segmented into Hybrid, Wireless Protocols, and Wired Protocols. Based on Type, the market is segmented into Intelligent Video Surveillance, Access Control Systems, Smart Intruder Alarms, and Others. Based on Application, the market is segmented into Commercial, Residential, and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Smart Security Market is Projected to reach USD 135 Billion by 2030, at a CAGR of 12.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alarm.com Holdings, Inc., Netgear, Inc., ADT, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Johnson Controls International PLC, Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., Robert Bosch GmbH and Legrand Group
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