Electronic access control systems comprise all electromechanical hardware devices that prevent entry/ access to any premise. They are used across various fields such as commercial space, government spaces, and private residential spaces which require a high level of security. The global electronic access control system market is touted to reach USD 13.3 Bn at a CAGR of 8.53% over the forecast period of 2018-2023, predicts Market Research Future (MRFR) in its latest study.
The growing incidence rate of crimes such as thefts, break-ins, and other illegal activities have compelled various institutions to adopt electronic access control system market. Various commercial, as well as residential areas, are installing electronic access control systems to prevent and minimize fraudulence and illegal activities. These systems provide various other advantages as well, which include burglar alarm system, fire, and carbon monoxide detection, and track the entry of employees and visitors. The need for electronic access control systems has increased in recent years in banks, data centers, hotels, retail stores, and others. Electronic access control systems, especially biometrics, are extensively integrated with existing payroll software which allows keeping a record of information related to attendance.
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The integration of IoT in electronic access control systems has created lucrative growth opportunities for the market. IoT based electronic access control systems can enhance the security of systems. In access control, intelligent locks, card readers, keypads, and other related devices are based on IoT and provide benefits such as easy access, improved integration, configuration, and tracking capabilities.
On the contrary, the growth of the electronic access control systems market can be hindered by high costs aligned with the installation of access control systems and maintenance costs.
Segmentation
The global electronic access control systems market has been segmented based on component and vertical.
By component, the electronic access control systems market has been segmented into biometrics reader, multi-technology readers, electronic locks, card-based reader, and controllers. The biometrics reader segment is estimated to account for the largest share of the market and register the highest CAGR as well. The high-reliability quotient of biometrics is responsible for their increased adoption.
By vertical, the electronic access control system market has been segmented into commercial spaces, military & defense, residential, education, government, healthcare, industrial, and others. Application-wise, the commercial spaces segment is likely to dominate the global market. Extensive use of electronic access control systems in commercial areas such as data centers, banks, hotels, retail stores, and malls can be credited for the growth of the segment.
Regional Analysis
By region, the electronic access control system market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is a significant market for electronic access control system and is estimated to domineer the global market over the forecast period. The region is among the early adopters of technology, and robust economic conditions have paced up the growth of the market in the region. The leading market players are based in the region which gives it unprecedented leverage.
The APAC electronic access control systems market is touted to register the highest CAGR over the forecast period. Growing incidences of crime have resulted in the accelerated implementation of security systems across the region. Moreover, growing government focus on enhancing security mechanism has also induced high demand within the market.
Competitive Landscape
The electronic access control system market is marked by the presence of various players including Johnson Controls International plc (Ireland), Nedap N.V.(Netherlands), Cansec Systems (Canada), Kisi Inc. (US), Identiv, Inc. (US), ASSA ABLOY AB (Sweden), AMAG Technology (US), Gunnebo (Sweden), NEC Corporation (Japan), Suprema HQ Inc. (South Korea), Vanderbilt Industries (US), Bosch Security Systems Inc. (US), Napco security Technologies (US), Honeywell Security Group (US), Time and Data Systems International (UK), Allegion plc (Ireland), Axis Communications (Sweden), Adman Technologies (India), IDEMIA (France), Brivo, Inc. (US), Salto Systems (Spain), Gallagher Group (New Zealand), dormakaba Holding AG (Switzerland), Gemalto N.V. (Netherlands)., and Lenel Systems International (US).
Industry Updates
May 2019 - Paxton, a developer of IP access control and door entry solutions, launched a new web-based interface for its Net2 access control system. Net2Online makes Net2 will facilitate access from any device with the help of internet connection and is a free feature with Paxton’s Net2 Pro software.
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Global Electronic Access Control Systems market was valued US$ 16.3 Bn in 2017 and is expected to reach US$ 25.72 Bn by 2026, at a CAGR of 5.2% during a forecast period.Global Electronic Access Control Systems Market, by RegionElectronic access control systems that offer smart ways to manage access for industrial and commercial facilities.
These solutions integrate a range of electronic access control locks, devices and systems with management tools to help your control who has access to your offices, operations and facilities.Based on Process system, Security concerns to prompt governments, corporate, financial institutes, and residential buildings to install better security systems.
EAC systems are the leading segments in the overall security market.
EAC system refers to a method of using electromechanical or electronic hardware to allow restricted access into premises.Based on application, private and Governments sector across the globe are investing in better infrastructure facilities.
Construction of residential buildings, roads, healthcare centers and educational institutes are further expected to increase demand for Electronic Access Control systems market in order to attain better security levels.Rising vandalism, terrorist attacks, and violence in public places such as city centers and educational institution are some of the factors leading to increasing demand for EAC system products.
Need for better security systems to illegal immigration, tackle fraudulence, and criminal activities have propelled governments to invest in EAC systems.According to Study of Responses to Terrorism (START) and Terrorism, one of the world’s top terrorism trackers, 2012 witnessed 69% rise in terror attacks and 89% increase in fatalities caused by them over 2011.
Report on World Electronic Access Control Systems Market by Product Type, Market, Players and Regions-Forecast to 2025 offered by DecisionDatabases.comElectronic Access Control Systems market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading industry Players.Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/52068-world-electronic-access-control-systems-market-reportThe Players mentioned in our reportHoneywellADVANCE TECHNOLOGYADT LLCTYCOHID Global CorporationPanasonicSouthcoJohnson ControlsASSA AbloyGlobal Electronic Access Control Systems Market: Product Segment AnalysisCard-based typeOther typeGlobal Electronic Access Control Systems Market: Application Segment AnalysisOfficeWarehouseParking AreaGlobal Electronic Access Control Systems Market: Regional Segment AnalysisUSAEuropeJapanChinaIndiaSouth East AsiaDownload Free Sample Report of World Electronic Access Control Systems Market @ https://www.decisiondatabases.com/contact/download-sample-52068 There are 10 Chapters to Deeply Display the World Electronic Access Control Systems Market.Chapter 1 About the Electronic Access Control Systems IndustryChapter 2 World Market Competition LandscapeChapter 3 World Electronic Access Control Systems Market shareChapter 4 Supply Chain AnalysisChapter 5 Company ProfilesChapter 6 Globalisation & TradeChapter 7 Distributors and CustomersChapter 8 Import, Export, Consumption and Consumption Value by Major CountriesChapter 9 World Electronic Access Control Systems Market Forecast through 2025Chapter 10 Key success factors and Market OverviewPurchase the complete World Electronic Access Control Systems Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-52068 Other Reports by DecisionDatabases.com:World Electronic Data Interchange (EDI) Software Market Research Report 2025 (Covering USA, Europe, China, Japan, India and etc)World Electronic Cumulative Timer Market Research Report 2025(Covering USA, EU, China, South East Asia, India, Japan and etc)About-Us:DecisionDatabases.com is a global business research report provider, enriching decision makers and strategists with qualitative statistics.
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