Albany, NY -- (SBWIRE) -- 10/31/2017 -- The key driver of the global electronic access control systems market is the growing rate of criminal activities and terror attacks on especially public and government locations. Private facilities and homes are targeted as well, making the global electronic access control systems needed in an even greater level today.
The global electronic access control systems market is a part of the global security market, and therefore has to compete with other security features and services to grow in terms of revenue. Key attributes that will attract consumers to the global electronic access control systems market, according to the report, are its high accuracy and efficiency in time, cost, and convenience.
Government bodies that are seeking superior security systems to negate fraudulent entries, criminal activities, and even illegal immigration, can find the tools and services for them through the global electronic access control systems market.
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The largest segment in the global electronic access control systems market for 2013 was authentication systems, which exhibited a CAGR of 12.6% between 2009 and 2013. By the end of 2013, this segment had generated a revenue of US$11.7 billion.
The report's geographical segmentation of the global electronic access control systems market reveals the Asia Pacific to have the highest CAGR of 16.7% within the report's forecast period. The Asia Pacific electronic access control systems market is expected to be worth US$9.6 billion by 2019.
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The largest end user in the global electronic access control systems market in 2013 was the commercial sector. This segment was previously developing at a CAGR of 13.9% from 2009 to 2013 to be worth US$4.6 billion by 2013.
The major players in the global electronic access control systems market are the ones that provide all services available in the market. This list of companies includes Cisco Systems, Inc., Godrej Industries Limited, Tyco International Ltd., and United Technologies Corporation.
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Companies that operate in the global electronic access control systems market while providing services and products in only two of the three market categories are Honeywell International Inc., Panasonic Corporation, 3M Cogent, Inc., and Safran SA. Other market players are Everspring Industry Co., Ltd., DigitalPersona, Inc., Magal Security Systems Ltd., Hitachi Ltd., and Siemens AG.