The Global Market for Electronic Access Control Systems (EACS) is Projected to Reach US$9.4 Billion by 2024

Electronic Access Control Systems’ Grand Convergence Supported by Game Changing Trends and Technologies Drive Growth in the Global 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 reach US$9.4 billion by 2024, driven by the grand convergence that is underway in the global EACS market and the growing preference for anytime anywhere access via smartphones led by convenience and affordability benefits.

Electronic Access Control Systems (EACS) ensures safety and security of people, assets, and resources by preventing unauthorized entry, monitoring visitor traffic, and controlling internal access. Unauthorized people are kept out of secure and sensitive areas to prevent crimes and thefts in government, enterprise, commercial & residential facilities thus facilitating efficient management of ‘who’ has been ‘where’ and ‘when’. Access control devices can be integrated with time and attendance systems and also with fire and alarm systems for enhanced authentication and security purposes. Inefficiencies of traditional access control technologies in terms of tailgating and forgotten, leaked, stolen or hacked user IDs and passwords bring electronic access control systems to the fore, which comes across as a much precise, safer, inexpensive and convenient method of authenticating individuals. The capability of electronic access control in monitoring, screening and managing the flow of individuals and restricting their unauthorized access with minimal staff and higher 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.

Strong growth is projected for the market in the coming years driven by the grand convergence that is underway in the EACS market resulting in cost-effective, capable and connected user experience more easily supported than ever before. The grand convergence is made possible due to the emergence of IP access control systems; expanding capabilities of the evolving Internet of Things (IoT) ecosystem resulting in the convergence of traditional access control solutions with networked IoT devices amidst transforming building environments due to the massive growth of technology usage within buildings enabling the creation of interconnected or connected buildings and homes. The omnipresence of smart devices and smarter solutions that provide enormous amount of usable information in addition to inexpensive and more dependable sensor technology that allow for collection of greater amounts of data in a more convenient, less expensive, and faster way are also expected to drive rapid advancement of IP-centric access control. Steadily increasing smartphone penetration and the resulting need for anytime, anywhere access, along with growing demand from the government sector represent other important growth drivers. 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), Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 10.7% 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 untapped market growth opportunities in the region.

Key players in the market include ADT LLC; Allegion Plc; ASSA ABLOY AB; Axis Communications AB; Bosch Security Systems; BIO-key, International, Inc.; dormakaba Holding AG; Gemalto N.V.; Gunnebo AB; Honeywell International, Inc.; Identiv Inc.; ISONAS; Johnson Controls International Plc; Kisi Inc.; NEC Corporation of America; Nortek Security and Control LLC; Oberthur Technologies SA; SecuGen Corporation; Sony 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.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

To connect with us, visit our LinkedIn page.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.