Published on : Dec 15, 2016
With the rise in the crime rate, the global demand for electronic access control systems has witnessed strong growth across the world. The increase in terror attacks and the recurrent events of security breaches have raised the concerns of people over safety and security, consequently prompting the demand for effective security measures, among which electronic access control systems is the most prominent one.
In addition to this, regulations and policies enforced by several governments, globally, to ensure safety and security of their inhabitants, are likely to present lucrative opportunities to manufacturers of electronic access control systems. However, the high installation cost of these systems, together with the absence of proper infrastructure, is projected to restrict this market from growing steadily over the forthcoming years.
Demand for Authentication Systems to Remain High
Broadly, the global market for electronic access control systems is studied on the basis of the system type and the application. By system type, the worldwide market is classified into intruder alarm systems, perimeter security systems, and authentication or access control systems. The demand for authentication systems is higher than other electronic access control systems across the world and is projected to remain high in the near future.
Predominantly, electronic access control systems are utilized in the government, industrial, commercial, and residential sectors. Among these, the commercial sector has surfaced as the leading end user of these systems across the world and is expected to retain its position over the next few years.
Global Electronic Access Control Systems Market - Competitive Analysis
The worldwide market for electronic access control systems demonstrates a highly fragmented structure with a large pool of companies operating in it. At the forefront of this market are NEC Corp., Panasonic Corp., Godrej Consumer Product Ltd., Tyco International Ltd., Cisco Systems Inc., Siemens AG, Honeywell International Inc., Johnson Controls Inc., Hitachi Ltd., Bosch Security Systems, United Technologies Corp., and Magal Security Systems Ltd.