Electronic Access Control Systems Market to Exceed $31B by 2019, Report Forecasts
The Asia-Pacific EACS market is expected to record the highest CAGR growth of 16.7% to reach $9.6 billion in 2019.
NEW YORK CITY – The global electronic access control systems (EACS) market is projected to be valued at $31.2 billion by 2019, growing at a compound annual growth rate of 12.6%, according to a new market forecast.
The report, published by Persistence Market Research, splits EACS into three major categories: authentication (biometric and card-based systems), intrusion alarm and perimeter security systems (free standing, buried cable and fence mounted security system), and end-user segments (government, commercial, industrial and residential).
Advantages such as high accuracy, convenience and time efficiency of EACS increase its attractiveness in the global security market, according to the report. Rising terrorist attacks, vandalism and violence in public places such as city centers and educational institutions are some of the factors leading to increasing demand for EACS.
Increasing international trade and privatization have influenced governmental and private sectors to invest in better infrastructure facilities. Construction of roads, residential buildings, health-care centers and educational institutions are expected to increase in the demand for EACS in order to attain better security levels.
Local and national governments have instructed the private sector to invest in security systems for the prevention of population and property from illegal acts. Mobile device with advanced sensor technologies are currently generating a shift toward biometrics systems, according to the report.
The global market for EACS grew from $10.1 billion in 2009 to $15.4 billion in 2013, according to the report. Authentication systems (the largest market in 2013) increased by 13.1% CAGR during 2009-2013 to reach $11.7 billion in 2013. The Asia-Pacific EACS market is expected to record the highest CAGR of 16.7% to reach $9.6 billion in 2019.
Usage of EACS in the commercial sector (the largest end-user market in 2013) increased by 13.9% CAGR during 2009-2013 to reach $4.6 billion in 2013.
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