A leading market study on the global market study on Electronic Access Control (EAC) systems: Biometric Systems to Witness Highest Growth by 2019,” states the global Electronic Access Control systems market was valued at $15,406.1 million in 2013 and is further expected to rise at a CAGR of 12.6% from 2014 – 2019. The market is estimated to reach a value of $31,187.8 million in 2019.
Electronic Access Control Systems Market – Overview
The need for efficient security systems to wield criminal activities, illegal immigrations, and fraudulent events has led to the emergence of EAC systems. Electronic Access Control (EAC) systems has increased its attractiveness in the global market because of benefits such as convenience, high-accuracy, and time-efficiency.
According to world’s best terrorism trackers – Study of Terrorism and Responses to Terrorism (START), the year 2012 had witnessed 69% rise in terror attacks and around 89% of fatality incidences. Such rise in crime and terror attacks highlights the need for high-end security. Therefore, Electronic Access Control systems (EAC) stand apart from conventional security systems in the overall industry.
In terms of value, the global EAC market expanded from $10.1 billion in 2009 to $15.4 billion in 2013. This market is further expected to reach a value of $31.2 billion in 2019 at a CAGR of 12.6%. The deployment of EAC system is at its highest in the commercial sector. In 2013, this end-user segment increased by CAGR 13.9% to reach $4.6 billion in 2013, for the forecast 2009 - 2013.
The electronic access control systems find its applications in several sectors of the industry due to the following growth factors.
Electronic Access Control Systems – Market Drivers
As EAC is a responsive security system with high benefits, many local and national governments worldwide have instructed public and private sectors to make investments in these security systems for the prevention of population and properties from fraudulent or illegal activities.
The need for EAC systems has grown manifold in the wake of corruption and threats becoming increasingly intricate around the world. Acts like vandalism, rising terrorist attacks, violence in public places and threats to the public, as well private properties, educational institutions, or city centers have made security the chief concern in minds of the individuals. Hence, the major concern for every individual, government agencies, or private organizations is to actively prevent intrusions and detect threats using effective safety measures, resulting in the demand for electronic access control systems in the global market.
Moreover, increase in the infrastructural developments, healthcare centers, or educational institutes across different regions in the world are expected to increase in the forthcoming years, thus, rising the demand for electronic access control systems market in the scope to achieve infallible security levels.
For both governments and individuals – safety and security are undoubtedly some of the major concerns to stay protected. Such concerns have fairly prompted financial institutes, governments, corporate and residential buildings to heavily invest in better security systems, such as EAC. This market is among the leading segments in the global security industry.
EAC System Market – By Process Segment
EAC system is bifurcated into three main technologies:
- Authentication system (biometric and card based authentication system)
- Intruder alarm system and perimeter security system (free standing, buried cable and fence mounted security system)
- End-user segment (government, commercial, industrial and residential)
Within this market, the authentication system held the largest market shares in 2013. It is estimated to grow at CAGR 13.1% during 2009-2013 and reach $11.7 billion in 2013. In addition, mobile phone devices are generating a shift toward biometrics systems with their advanced sensor technologies. The most prominent end-users of EAC systems are the commercial sector, followed by industrial and government sectors.
Indeed, EAC systems prove to be reliable and authentic when they are put to use. Most of the major companies produce EAC systems based on the market trends and consumer needs. Some of the leading companies in the electronic access control systems market are Godrej Industries Limited, Cisco Systems, Inc., United Technologies Corporation, and Tyco International Ltd.
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