Innovation will Keep Card-based Electronic Access Control Systems Market Afloat
A recent report stated that technological advances such as images with better resolution and permanent personalization attributes are likely to push card-based electronic access control systems to a whole new level.
The global electronic access control systems market is segmented on the basis of processes and regions. The processes in the electronic access control systems market are authentication systems, intruder alarm systems, and perimeter security systems. The authentication systems segment is further sub-segmented into biometric systems and card-based authentication systems. The various types of biometric systems seen in this market are face recognition, fingerprint recognition, iris recognition, palm recognition, vein recognition, voice recognition, and automated fingerprint identification system/live scan. Card-based authentication systems include smart cards and proximity cards. The types of perimeter security systems on the market are buried perimeter security and free standing perimeter security.
Government Investments for Better Security Standards to Drive Market
According to research analysts, authentication systems held the biggest share in the global electronic access control systems market in 2013. This segment grew at a significant CAGR of 12.6% from 2009 to 2013 to register a revenue of US$11.7 bn. The global electronic access control systems market is expected to witness dynamic growth, as governments across the globe are investing in enhanced security systems. In addition to this, construction of residential buildings, roads, educational institutes, and healthcare centers is expected to propel the global electronic access control systems market as contractors work towards improving security standards.
Rising Criminal Activities Contribute to Growth of Electronic Access Control Systems Market
Unfortunately, the main driver responsible for the surge in revenue in the global electronic access control systems market is the rate at which criminal activities are spreading all over the world. The terrifying number of terror attacks in public locations and in/near government offices is also forcing local forces to install various types of electronic access control systems. The global electronic access control systems market is expected to reach US$31.1 bn by 2019, expanding at a CAGR of 12.6% from 2014 to 2019.
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Some of the key players shaping the global electronic access control systems market are Panasonic Corporation, Honeywell International Inc., 3M Cogent, Inc., and Safran SA. These companies are only providing services and products for a few categories. On the other hand, the other noteworthy players in this market are DigitalPersona, Inc., Everspring Industry Co., Ltd., Hitachi Ltd., Siemens AG, Magal Security Systems Ltd, Tyco International Ltd., Godrej Industries Limited, Cisco Systems, Inc., and United Technologies Corporation.
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