The Global Market for Card-Based Electronic Access Control Systems (EACS) is Projected to Reach US$10.1 Billion by 2020
Developing Markets to Drive the Card-Based EACS Market,
According to a New Report Update by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report update on the Card-Based
Electronic Access Control Systems (EACS). The
global market for Card-Based Electronic Access Control Systems (EACS) is
projected to reach US$10.1 billion by 2020, driven by growing demand from
new office space, commercial and residential construction projects.
Access control
has become one of the most critical security functions in government,
enterprise, commercial & residential facilities. The ability to monitor,
screen and manage the flow of individuals and restrict their unauthorized
access with minimal staff and high efficiency, is spurring the demand for
new-age electronic access control systems such as Card-based Electronic Access Control
Systems (EACS) in these facilities. The improving enterprise, industrial and
commercial business activity as evident by the rise in number of new office
starts, increase in capital projects across different industries, and
branch/retail outlet expansions, in line with recovering global economy, is
expected to drive the card-based EACS market in coming years. Improvement in
liquidity situation, softening of interest rates, and increase in security
budgets will especially encourage investments on card based EACS in key private
sector end-use markets such as commercial retail outlets, hospitality facilities,
banking & financial institutions, IT companies etc. Increase in government
spending on national security will also present excellent opportunities for
EACS in public sector office buildings and government institutions. Realigned
focus on safety and security among organizations, government agencies and
general public, will help global EACS market gain momentum over the next few
years.
Growing demand for card-based
EACS in logical access control applications also augurs well for the market. With organizations
seeking to enhance their logical access control infrastructure with systems
that can authenticate users in a secure environment and grant access to
networked systems, demand for card-based EACS for logical access control is on
the rise. Given the growing use of wired and wireless networks for gaining
access to information resources in private companies and government agencies,
password based user authentication is being regarded as a security risk, thus
driving business case for adoption of card based EACS.
Growth in the
coming years will be especially driven by developing markets such as Middle
East, Latin America and Asia-Pacific. Continued rise in number of key
infrastructure projects, luxury hotels, high-rise buildings and large number of
oil & gas exploration companies in the region make Middle East the most
prominent regional market for card based access control systems. The huge
travel and leisure industry in Latin America offers opportunities on the
platter for card based access control systems in luxury hotels, spas and
tourist resorts that dot nations such as Brazil, Mexico and Argentina. Characterized
by burgeoning economies, increase in foreign investments and rise in business
formation activities, Asia-Pacific also has been witnessing increased adoption
of card based EACS. With several multinational companies establishing their
manufacturing, processing, marketing and service operations in countries such
as China, India, Singapore, Taiwan, Indonesia and Vietnam, the need for
efficient technologies that can ensure security on par with developed countries
is driving increased adoption of Card Based EACS in these countries. Price
sensitive nature of the market also make card based systems a preferred choice
for access control in the region.
As stated by
the new market research report on Card-Based Electronic Access Control Systems
(EACS), the United States represents the largest market worldwide. The Middle
East is the fastest growing market with value sales waxing at a CAGR of about 12%
over the analysis period. Product-wise, smart cards represent the fastest
growing segment with a CAGR of about 10% over the analysis period. Smart cards
sales are projected to surpass Proximity cards by 2017.
Key players
covered in the report include Allegion, ASSA ABLOY AB, Bosch Security Systems
Inc., Gemalto, Gunnebo Ab, HID Global Corporation, Identiv Inc., Kaba Holding
AG, NAPCO Security Technologies Inc., Oberthur Technologies, PAC International
Ltd., SAFRAN Group, Siemens Building Technologies, and UTC Building &
Industrial Systems, among others.
Comments
Post a Comment