Project Description

Market Assessment of ELV Product and Services in the KSA

  • ELV market was estimated to be ~$4.3 billion in 2022, and projected to reach $6.3 billion by 2026, representing a CAGR of 9.8% during the period. Digitization of the economy, construction activities, mega projects, and smart city initiatives are a few factors that are driving the market in Saudi Arabia
  • Commercial construction is the largest end-user segment for ELV products in Saudi Arabia, accounting for ~32% of total demand in 2022. Education (14%), healthcare (12%), infrastructure (12%), and residential (10%) are the key fast-growing sector.
  • ELV market is a highly fragmented market in Saudi Arabia, with over 78% of the market being accounted by small, niche players. Top 5 companies account for ~18% of the market. Solutions by STC is the leader in ICT system integration, while SETRA is the leader in building solutions sector
  • As part of Saudi Vision 2030, the country has set a target for ICT industry to contribute ~4.6% of GDP in 2023. The vision is a long-term economic model that aims to diversify the Saudi economy by increasing contribution from sectors other than oil.
  • ELV market is an evolving market with OEM bringing new technology or specifications to the products hence the integrators should keep updating their portfolio and knowledge to create a competitive advantage as customers look for the latest solutions

Table of Content:

Macro Overview of KSA

  • National Accounts
    • GDP, GDP Breakdown by Sector
    • Unemployment and Inflation
  • Demographics overview
    • Population by age and gender
  • ICT Sector Overview

Value Chain Analysis

  • Key stakeholders in KSA

Market Demand Analysis

  • ELV Products Market (2021-2026)
    • Market by Product Group
      • IT Networking and Data Center Solutions
      • Security Systems and Alarm
      • AV Systems
      • Automation Solutions
      • Fire & Life Safety
      • Others (including services)
    • Market by End Users
      • Residential
      • Commercial
      • Industrial

Market dynamics including

  • Key demand drivers such as Vision 2030, ICT sector investments, digital transformation efforts
  • Main challenges such as supply chain issues, skillset availability
  • Latest trends such as govt. regulations for fire and security systems, growth in data centers, and industry 4.0

Government Regulations

  • Current regulations impacting ELV sector in KSA
  • Upcoming policies, regulations (if any)

Competitive landscape

  • Market share analysis
  • Key competitor profile (top 3 only)
    • Overview
    • Financials*
    • Product range
    • Key customers


  • Market attractiveness
  • Key considerations