Global Electronic Access Control Systems Market to Top $31B by 2019, Report Says
Terrorism threats, vandalism and violence in public places such as city centers and educational institutions are some of the factors leading to increasing demand for EAC systems.
NEW YORK CITY – The global electronic access control (EAC) systems market is forecast to increase from $15.4 billion in 2013 to $31.2 billion in 2019, growing at a compound annual growth (CAGR) of 12.6%, according to a report by Persistence Market Research. The EAC systems market was valued at $10.1 billion in 2009.
The authentication system market, the largest market niche within EAC systems in 2013, increased by 13.1% CAGR during 2009-2013 to reach $11.7 billion in 2013. The Asia-Pacific EAC systems market is expected to record the highest CAGR growth of 16.7% to reach $9.6 billion in 2019. Usage of EAC systems in the commercial sector (the largest end user in 2013) increased by 13.9% CAGR during 2009-2013 to reach $4.6 billion in 2013.
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 EAC systems, according to the research firm, based here. Increasing international trade and privatization have influenced the government and private sector to invest in better infrastructure facilities.
Construction of roads, residential buildings, health-care centers and educational institutes are expected to increase in the coming future, increasing the demand for EAC systems in order to attain better security levels. Local and national government 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 is currently generating a shift toward biometrics systems.
The research firm separates EAC systems into three major technologies: authentication systems (biometrics and card-based); intrusion and perimeter security (free standing, buried cable and fence-mounted); and end-user segment (government, commercial, industrial and residential).
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!