Electronic Access Control Systems Market Global Forecast, Market Share, Size, Growth and Industry Analysis, 2014 - 2019
Albany, NY -- (SBWIRE) -- 11/07/2016 -- A new Transparency Market Research report states that the global electronic access control systems market stood at US$15.406 bn in 2013 and is anticipated to reach US$31.188 bn in 2019, by expanding at a CAGR of 12.60% from 2014 to 2019. The report is titled "Electronic Access Control Systems Market Global Forecast, Market Share, Size, Growth and Industry Analysis, 2014 - 2019."
Electronic access control (EAC) systems are the systems installed and designed for providing protection against the entry of unwanted visitors into a property and for allowing free entry and movement for the authorized users. The installation of these systems help provide protection to visitors, employees, property, and stock. These systems present exit and entry control through nominated doors with the help of a control panel and a certain form of electronic facility. EAC systems also present a host of other features that are quite useful in a number of areas such as integration with payroll systems, attendance functions, vending machine applications, car park management, etc.
As per this report, the market for EAC systems is fuelled by the increasing activities of terrorism and the increasing crime rate demanding security solutions. In addition, the rising government regulations have also resulted in the increasing usage of EAC systems globally. Furthermore, rising investments in infrastructure will also have a positive impact on the growth of the market. On the other hand, the absence of a proper infrastructure and the lack of awareness amongst individuals on technological improvements are amongst the chief factors threatening to the growth of this market.
On the basis of process, the report segments the market into authentication systems, intruder alarm systems, and perimeter security systems. Authentication systems are further segmented into biometrics and card-based authentication systems. The segment of biometrics is further segmented into iris recognition, face recognition, voice recognition, fingerprint recognition, palm recognition, signature recognition, vein recognition, fingerprint recognition, and automated fingerprint identification system/live scan. The card-based systems segment is further classified into smart cards and proximity cards. On the other hand, perimeter security systems are further segmented into buried perimeter security and free standing perimeter security.
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As per the report, the development in sensor technologies and mobile devices is increasing the preference towards biometric systems. However, authentication system held the largest share in 2013 by expanding at a CAGR of 13.1% from 2009 to 2013 and reached US$11.7 bn in the same year. By end user, the market is segmented into commercial, industrial, government, and residential. The utilization of EAC systems within the commercial sector was the largest and expanded at a 13.90% CAGR from 2009 to 2013 and reached US$4.6 bn by 2013.
Geographically, the market is segmented into Europe, North America, and Asia Pacific. As per the report, the prime companies providing products under all three processes are Tyco International Ltd., United Technologies Corporation, Cisco Systems, Inc., and Godrej Industries Limited, among others. On the other hand, companies dominant in only two processes are 3M Cogent, Inc. (authentication and perimeter security system), Safran SA (authentication and intruder alarm system), and Panasonic Corporation (intruder alarm and perimeter security), among others. The companies making products for just a single category are Hitachi Ltd. (intruder alarm), Magal Security Systems Ltd. (perimeter security system), and Siemens AG (authentication system), among others.