The
global electronic
access control (EAC) systems market is an important part of the
global security systems industry. The market serves government
bodies, financial institutions, educational institutions, residential
buildings, commercial premises, and a number of other end users,
helping tackle security breaches such as illegal immigration,
criminal activities, and fraudulence. EAC systems refer to the
technologically advanced locking mechanisms that utilize electronic
or electromechanical hardware, a reader, and a form of controller to
replace the need for physical locks and keys.
Multiple
Issues with Physical Locks and Many Benefits with their Electronic
Variants
There
are many problems that physical lock and keys face. The fact that
small items such as physical keys are easy to copy and changing a
lock is the only option in case of a lost key, and a premise guarded
by a physical lock cannot be remotely accessed, works in favor of
electronic access control systems. Not only are electronic keys quite
difficult to duplicate, one also need not change an electronic lock
when an electronic key is lost, since the key’s record from the
database can be immediately removed and replaced with a new one.
Places
where frequent personal traffic is observed, such as schools,
colleges, or office entrances, locking and unlocking could become a
time consuming task. Many more such benefits are afforded by
electronic access control systems and the added security features,
such as entry and exit logs, alarms for intrusion attempts, etc.,
make the concept highly effective.
A
Market that Survived the Blow of Global Recession
The
global market for such systems is flourishing. Though the market was
not entirely impervious to the economic slowdown of 2008-2009, it
remained fairly resilient to the harsh market conditions of this
period. A research report published by Transparency Market Research
states that the market had a net worth of US$10.1 billion in 2009 and
had risen to US$15.4 billion by 2013.
The
market is expected to grow at a CAGR of 12.6% between 2013 and 2019,
allowing it to rise to US$31.2 billion by 2019. Post-recession, the
authentication system market segment observed growth at a 13.1% CAGR
during 2009-2013. During this period, the commercial sector emerged
as the fastest growing end-use segment for EAC systems market, as it
observed growth at a 13.9% CAGR. The report states that the EAC
system market in Asia Pacific will record growth at the highest pace,
a 16.7% CAGR between 2013 and 2019.
Market
Dynamics and Key Players
The
global market for electronic access control systems is highly
fragmented. It features a number of businesses operating at regional
or global levels. Some companies include all the three most popular
variants of electronic access control systems, i.e. authentication
systems, perimeter security system, and intruder alarm systems in
their portfolios, while some businesses have their offerings
dedicated to one or two specialties.
Companies
such as Tyco International Ltd., Cisco Systems, Inc., United
Technologies Corporation, and Godrej Industries Limited provide EAC
systems spanning all the three categories. Global companies such as
Safran SA, 3M Cogent, Inc., Panasonic Corporation, Honeywell
International Inc., Hitachi Ltd., Siemens AG, and Magal Security
Systems Ltd. are well known for their specialized operations in one
or two EAC verticals. Regional businesses such as DigitalPersona,
Inc., and Everspring Industry Co., Ltd. are also well known for their
considerable business share in their respective regional markets.
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Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
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information. With extensive research and analysis capabilities,
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research techniques to develop distinctive data sets and research
material for business reports.
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