Security - Algeria

Algeria

Revenue in the Security market is projected to reach US$19.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.23%, resulting in a projected market volume of US$45.1m by 2029.
In the Security market, the number of active households is expected to amount to 5.2m users by 2029.
Household penetration will be 51.3% in 2024 and is expected to hit 53.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$4.13.

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Analyst Opinion

The Security market in Algeria is experiencing significant growth due to several key factors.

Customer preferences: Customers in Algeria are increasingly prioritizing their personal safety and the security of their property. This is driven by a number of factors, including rising crime rates and concerns about terrorism. As a result, there is a growing demand for security solutions that can provide peace of mind and protection for individuals and businesses.

Trends in the market: One of the key trends in the security market in Algeria is the increasing adoption of advanced technologies. This includes the use of surveillance cameras, access control systems, and alarm systems. These technologies allow for real-time monitoring and quick response to potential threats, enhancing the overall security of individuals and properties. Another trend in the market is the growing popularity of integrated security solutions. Customers are looking for comprehensive security systems that can address multiple needs, such as video surveillance, access control, and intrusion detection. Integrated solutions offer convenience and efficiency, as they can be managed and monitored from a single platform.

Local special circumstances: Algeria's geopolitical position and its history of political instability have contributed to the increased demand for security solutions. The country has faced security challenges, including terrorism and organized crime, which have created a need for robust security measures. Additionally, the country's large oil and gas industry has also led to a demand for security solutions to protect critical infrastructure.

Underlying macroeconomic factors: The security market in Algeria is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed individuals and businesses to invest in security solutions to protect their assets. Furthermore, government initiatives aimed at improving security infrastructure have also contributed to the growth of the security market. The government has recognized the importance of security and has implemented measures to enhance public safety. This includes investments in surveillance systems, increased police presence, and the implementation of security regulations. In conclusion, the security market in Algeria is growing due to increasing customer preferences for personal safety and the security of their property. The adoption of advanced technologies and integrated security solutions is a key trend in the market. Local special circumstances, such as geopolitical challenges and the presence of critical infrastructure, have also contributed to the demand for security solutions. Additionally, underlying macroeconomic factors, including economic growth and government initiatives, have further fueled the growth of the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.