Saudi Arabia is one of the most advanced countries in the world when it comes to establishing smart homes.
Recent studies regarding the real estate market indicated that the Gulf countries in general and Saudi Arabia in particular are likely to be the most advanced with respect to establishing smart homes as a result of the level of constructional development in this region.
According to a report by Statista the revenue in the ‘Smart Home’ market amounts to US$124m in 2017 with expectation for it to show an annual growth rate (CAGR 2017-2021) of 42.3 % resulting in a market volume of US$507m in 2021.
The report further reveals that currently the household penetration is at 6.1 % in 2017 and is expected to hit 24.7 % in 2021.
Ring, a leader in in neighbourhood security, has embarked on a two-city roadshow in Riyadh and Jeddah, to promote Ring’s innovative home security products and solutions and share insights into the importance of home security with its partners in the kingdom.
Mohammad Meraj Hoda, Vice President of Business Development – Middle East and Africa at Ring, said: “Ring believes in keeping homes and communities safe rather than just comfortable and we hope to change the way home owners view security by keeping an eye on their family and property, even when they can’t.”