Published By : 15 Apr 2016 | Published By : QYRESEARCH
The global market for electronic access control (EAC) systems has been experiencing an immense surge in demand. The increasing rate of crime across the world has been boosting this market significantly over the last few years. The growing incidence of terror attacks and security breaches is increasing the concerns of people over safety and security, fueling the demand for EAC systems around the world. Asia Pacific is expected to lead the global market for EAC systems in the coming years.
Authentication Systems Segment Leads Global EAC Systems Market
Intruder alarm systems, perimeter security systems, and authentication systems are the major types of EAC systems available across the world. Among these, the authentication system segment has acquired the leading position in the overall market over the last few years. It increased at a CAGR of 13.10% between 2009 and 2013 and attained a value of US$12 bn in 2013.
The authentication systems market include biometric and card-based authentication systems while buried perimeter security systems and free standing security systems are the major components of the market for perimeter security systems.
Commercial Industry Emerges as Biggest Consumer of EAC Systems
The government, industrial, commercial, and residential sectors are the key application areas for EAC systems. The commercial industry has emerged as the leading consumer of EAC systems across the world. Historically, the demand for EAC systems in the commercial industry expanded at a CAGR of 13.90% between 2009 and 2013, garnering a total revenue of US$4.6 bn by 2013. The segment broadly includes airports, research institutes, hospitals, and financial organizations.
The global market for EAC systems is highly fragmented in nature. The major players operating in this market are Magal Security Systems Ltd., Siemens AG, Tyco International Ltd., United Technologies Corp., Hitachi Ltd., Johnson Controls Inc., Cisco Systems Inc., Bosch Security Systems, Honeywell International Inc., Godrej Consumer Product Ltd., NEC Corp., and Panasonic Corp.