Transparency Market Research has published a new report titled "Electronic Access Control Systems Market - Global Forecast, Market Share, Size, Growth and Industry Analysis, 2014 - 2019" to its report store.
Albany, NY -- (SBWIRE) -- 12/23/2014 -- The global Electronic Access Control systems market was valued at $15,406.1 million in 2013 and is expected to grow at a CAGR of 12.6% from 2014 to 2019. The market will reach an estimated value of $31,187.8 million in 2019.
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This report covers in-depth market analysis, by end-user segment (government, commercial, industrial and residential) and process segment (authentication system (biometric and card based authentication system) including, perimeter security system and intruder alarm system (free standing, buried cable and fence mounted security system) for the period 2009 to 2019. The current dynamics of this market also includes the restraints, recent developments, drivers, and opportunities, along with the historical and forecasted market sizes (2009-2019), in terms of value (USD million).
Electronic Access Control system refers to a method of using electronic hardware to tolerate restricted access into secured premises. Security is the major concern of individuals and governments, and with growing vandalism, terrorist attacks, and violence in private or public places, the need for efficient security systems is constantly on a rise. Also, the need to tackle illegal immigration, fraudulence, and various other criminal activities has driven the demand and growth for Electronic Access Control systems.
EAC systems are one of the most used security systems around the world. They are deployed due to their authenticity and reliability. EAC system is divided into three main technologies, perimeter security system (free standing and buried perimeter security system), authentication system (biometric and card based authentication system), and intruder alarm system. The authentication system market was the largest segment in 2013 growing at a CAGR of 13.1% from 2009 – 2013 and expected to reach a value $11.7 billion in 2013.
The major end-users of EAC systems are the commercial sectors. The usage of EAC system in this segment has increased by a CAGR of 13.9% during 2009 – 2013 to reach a value of $4.6 billion in 2013. Following to the commercial sector is the industrial and government sects that implement EAC systems on a large scale.
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The market for EAC systems is expanding because these systems offer certain advantages such as convenience, accuracy, and time-efficiency over other conventional security products. Such aspects have increased the attractiveness of this market on a global level. Many private and government sectors are investing in construction and infrastructure facilities to attain better security levels. Moreover, advancement of sensor technologies and mobile devices is developing a shift toward biometrics system. All such factors are expected to increase the demand for EAC systems across several industry verticals on a global level.
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The regional and competitive landscape section of the Electronic Access Control systems market report profiles different regions and companies based on their geographical presence, as well as in the number of product segments. Geographically, the Asia-Pacific EAC market is estimated to record the highest CAGR growth of 16.7% in order to reach a value of $9.6 billion in 2019.
In terms of value, the global Electronic Access Control Systems market grew from $10.1 billion in 2009 to $15.4 billion in 2013. The market is expected to grow to $31.2 billion in 2019, increasing at a CAGR of 12.6%.
The report details some of the key market players operating at a regional and global level. Some of the major companies providing products and operating globally under main EAC systems categories are Godrej Industries Limited, Tyco International Ltd., United Technologies Corporation, and Cisco Systems, Inc.
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