The Global Market for Electronic Access Control Systems (EACS) is Projected to Exceed US$40 Billion by 2024
Access via Smartphones Emerge as a Key Trend in the
Global Electronic Access Control Systems Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches
comprehensive analysis of industry segments, trends, growth drivers, market
share, size and demand forecasts on the global Electronic Access Control
Systems (EACS) market. The global market for Electronic Access Control
Systems (EACS) is projected to exceed US$40 billion by 2024, driven by the growing need to establish a
national identity framework in countries across the world coupled with the
growing preference for access via smartphones led by convenience and
affordability benefits.
Access control represents
one of the most critical functions within the overall security arrangements
provided for commercial & residential constructions or any other
infrastructure facility. With most of the investigations into terrorist
attacks, thefts, break-ins or unauthorized use of information or assets,
pointing towards unauthorized entry of suspects as the primary reason for the
incident, the importance of access control and access control solutions has
come to the forefront. The capability of electronic access control in monitoring,
screening and managing the flow of individuals and restricting their
unauthorized access with minimal staff and high efficiency is driving strong
adoption of electronic access control systems (EACS) such as Card-based EACS,
Biometric EACS, Audio and Video-Based EACS and Keypad-Based EACS, for
residential, small and medium businesses as well as large networked
environments. The access control technology is rapidly evolving and morphing
into various directions over the past several years. The radical transformation
in terms of implementation and approach related to access control is attributed
to advent of smart microchips, increasing penetration of smartphones, ongoing
advances in wireless technology and convergence of sophisticated network-centric
technologies.
Future growth
in the market will be driven by strong smartphone proliferation and the
resulting need for anytime, anywhere access; and growing demand from the
government sector. As mobile IDs, biometrics, a mobile driver license, and
other virtual documents are growing in prominence, the need to establish a
national identity framework in the coming years is part of the main agenda for
countries across the world. Incremental technology developments induced rise in
product sophistication and fall in prices will also help expand demand further.
Development of more advanced, and higher value access control systems and
efforts to integrate new advanced features and capabilities to the already
installed systems, will also generate substantial demand for EACS over the next
few years. Technologies that are expected to be an integral part of next
generation access control systems include wireless technology, mobile
credentials, multi-modal biometrics, wireless/offline locks, drone technology,
networked IP device technology, Near Field Communications (NFC), cloud based
Access Control as a Service (ACaaS), and the Internet of Things (IoT) that
facilitates connection and data sharing between intelligent devices and
networks to deliver an enriched experience to system administrators and
end-users.
As stated by
the new market research report on Electronic Access Control Systems (EACS), the United States represents the largest market
worldwide. Surging investments in advanced security technologies against the
backdrop of rising security breaches over the years and stringent building
security norms represent key growth drivers in the country. Asia-Pacific ranks
as the fastest growing market with a CAGR of 12.0% over the analysis period. Non-availability
of adequate technologies and mechanisms for linking individuals to their legal
identity; increasing demand for access control solutions for new homes, small
and medium businesses, huge corporate workplaces, and stores; gradual
digitalization of government certified documents; huge unmet identification and
verification needs; and the robust rise in National/Civil ID projects offer
lucrative opportunities in the region.
Key players in
the market include ADT LLC; Allegion Plc; ASSA ABLOY AB; Bosch Security Systems;
BIO-key, International, Inc.; dormakaba Holding AG; Gunnebo AB; Honeywell Access;
Identiv Inc.; ISONAS; Johnson Controls International Plc; Kisi Inc.; NEC
Corporation of America; Nortek Security and Control LLC; SAFRAN Group; SecuGen
Corporation; STANLEY Security; UTC Climate, Controls & Security; and
Vanderbilt Industries, among others.
The research
report titled “Electronic Access Control Systems (EACS): A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive
review of market trends, issues, drivers, mergers, acquisitions and other
strategic industry activities of global companies. The report provides market
estimates and projections in value for the United States, Canada, Japan, Europe
(France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific
(China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of
Latin America), and Rest of World. Major product types analyzed in the report
include Card-Based EACS; Biometrics-Based EACS; Audio & Video-Based EACS;
and Keypad-Based EACS.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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