A recently published report reveals that the global access control systems market is expected to represent a value of over US$ 24,000 Mn by the end of 2022.
Rockville, MD -- (SBWIRE) -- 02/06/2018 -- The global electronic access control system market is expected to witness a healthy growth attributed to increasing demand in the commercial, government, and healthcare industry. Increasing demand for sealing the commercial, government, and residential buildings with security is expected to impact growth of the global market positively. This report, compiled by Fact.MR, provides in-depth analysis of the global electronic access control systems market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR's report is to analyze the global electronic access control systems market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Electronic access control systems manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to electronic access control systems.
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Considering the wide scope of the global electronic access control systems market and to offer in-depth insights, Fact.MR's report provides segment-wise analysis and forecast. The electronic access control systems market has been categorized on the basis of technology, by end user, and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
Significant Demand in Commercial Industry
Growing demand for security systems in the commercial buildings is expected to impact growth of the global electronic access control systems market positively. Increasing investments by tenants, property managers, and stakeholders has revved up demand for the electronic access control systems in the commercial building. This has led to a surge in demand for keeping the property safe from loiterers, fire, theft, vandalism, and other risks. Moreover, surge in the number of faculty members, and visitors is also expected to contribute towards growth of the global market.
Government Organizations to Fuel Market Growth
Adoption of electronic access control systems is also expected to expand in the government organizations. Attributed to increasing need for securing the projects initiated by several government organizations, adoption of electronic access control systems is likely to remain high. Moreover, increasing demand for securing the government officials is further expected to impact growth of the global electronic access control systems market. Several government organizations also include the research and development section to support the initiated projects. Surge in need for securing these government institutes is further expected to fuel demand for electronic access control systems globally.
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Card-Based Technology to Represent a Dominant Segment
With increasing demand for residential security, adoption of card-based security systems is expected to rev up. Card-based technology is expected to witness the highest revenue growth, accounting for a value of over US$ 2,600 Mn by the end of 2022. However, biometric as compared to other technologies is expected to register the highest CAGR in the global market throughout 2022.
Demand for the electronic access control systems is expected to be high in the commercial & industrial sector as compared to other end users. The commercial & industrial sector is expected to witness the highest revenue growth, recording a value of over US$ 2,000 Mn by the end of 2017. However, government & defense sector is expected to register the highest CAGR in the global market throughout 2022.
Leading market players operating in the global electronic control system market include Siemens AG, Cisco Systems, Inc, Robert Bosch GmbH, Honeywell International Inc, Schneider Electric SE, Panasonic Corporation, Johnson Controls International plc, Fujitsu Limited, ASSA ABLOY AB, and Ingersoll-Rand Plc.
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