The global electronic access control systems (EACS) market is projected to exhibit a CAGR of 6.13% during the forecast period of 2017 to 2021, gaining traction primarily from increasing security concerns in various sectors, such as aviation, consumer services, corporate, and others. MarketResearchReports.biz has recently added a market study that explores every crucial aspect of the global electronic access control systems market, segments it to gauge the profitability of smaller parts, studies the potential of the market in all important regions and countries, and profiles some of the key companies in order to represent the competitive landscape. The report is titled “Global Electronic Access Control Systems Market 2017-2021.”
The report observes that recently, acts of terrorism across the world has increased manifold, targeting both public and private properties. The market for electronic access control systems includes authentication systems and intruder alarm as they resiliently monitor the perimeter security. Technological advancements, increasing deployment of wireless technology, and adoption of IoT-based security systems with cloud computing platforms are some of the other factors favoring the global electronic access control systems market. In addition to that, rising adoption of EMV standards owing to growing need for secure financial transactions is reflecting positively on the global EACS market. EMV cards are now used by various companies for cashless transactions. On the other hand, lack of awareness about advanced security solutions among end users and considerable initial cost are a few factors obstructing the proper prosperity of the global electronic access control systems market.
Some of the emerging trends of the electronic access control systems market are: migration from single to multi-modal authentication systems, growing adoption of access control as a service (ACaaS), increasing penetration of self-access control terminals, and rising adoption of access control in schools.
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Based on product-type, the report segments the global electronic access control systems market into authentication, intruder alarm, and perimeter security. In 2016, authentication system segment accounted for the maximum demand-share, which offers various features such as certificate-based client authentication, proxy authentication, and prevention of dictionary-style attacks. Application-wise, the market for EACS has been bifurcated into commercial, industrial, and residential. Currently, the commercial application account for the major share of the market, with keypads and card readers as common electronic access control systems. Geographically, the report evaluates the potential of electronic access control systems market in the regions of Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC).
The report also detects a fragmented competitive landscape existent in the global electronic access control systems market, with a vast number of global and regional companies competing on the factors such as security, authentication, and better response time. Research and development of new products is expected to be the primary strategy of the leading companies to add to their shares of the pie. Some of the key companies identified by the report in the global electronic access control systems market are: Honeywell International, Bosch Sicherheitssysteme, Siemens, ASSA ABLOY, Schneider Electric, Tyco, Comelit Group UK, Texecom, Communication Networks, Panasonic, Genetec, and SALTO Systems.