New York, NY, March 09, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Electronic Access Control Systems Market by Technology (Authentication System, Intruder Alarm Systems, and Perimeter Security System) For Residential, Commercial, Government, and Industrial Applications by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2023’’. According to the report, global Electronic Access Control Systems Market was valued at around USD 20.49 billion in 2017 and is expected to reach approximately USD 35.51 billion in 2023, growing at a CAGR of slightly above 9.6% between 2018 and 2023.
In this era of digitization, the need to maintain the security of the provided area is essential. Electronic Access Control System (EAC System) can provide security in both ways including physical and electronic surveillance. EAC system is an electromechanical system that provides complete control over the physical security of a specific zone or premise. Globally various private sector companies, as well as governments, are investing significantly in improving the security of their facilities. This has increased the demand for EAC systems in order to keep the facilities safe and secure from robberies, crimes, and other security threats. EAC system is preferred over other traditional measures as it offers high accuracy, user convenience, and efficiency of time over all other products available in the security market. An EAC system offers features such as deciding which user or person should have access to which doors and at what times. Most electronic access control systems offer a review trail which records the time when the door was accessed, or access was denied, and by whom. These review reports can provide detailed information regarding who has accessed or tried to access the facility and when.
Browse through 29 Tables & 22 Figures spread over 110 Pages and in-depth TOC on "Global Electronic Access Control System Market Size, Share, Trends and Forecast 2016 – 2022”.
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The continuously increasing demand for enhanced security solutions in government premises is one of the major factors driving the electronic access control systems market globally. Additionally, crimes, thefts and other threats related to public and private properties have also been spurring the growth of this market positively. The high cost of installation of EAC systems is expected to be one of the major restraining factors for electronic access control systems market.
The Asia Pacific is expected to be the fastest growing market for electronic access control systems both in terms of revenue and customer base. Some of the major factors that are expected to drive the market during the forecast period increase in customer base, high demand for electronic surveillance, rising living standards of the people, etc. The high adoption rate of EAC systems in various companies located in this region is anticipated to drive the market growth within the forecast period. China is expected to be the leading country in the electronic access control system market in the Asia Pacific over the forecast period.
Browse the full "Electronic Access Control Systems Market by Technology (Authentication System, Intruder Alarm Systems, and Perimeter Security System) For Residential, Commercial, Government, and Industrial Applications by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2023." report at https://www.zionmarketresearch.com/report/electronic-access-control-system-market
Europe is expected to witness significant growth in electronic access control systems market over the forecast period owing to the demand for monitoring public and private properties on a regular basis. Other regions such as Latin America and the Middle East and Africa are also growing in terms of the consumer base, technology, and establishing infrastructure for providing high quality living to the end users. These factors are expected to drive the growth of EAC systems market in the region within the forecasted period.
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The key players operating in the global electronic access control systems market are Godrej Consumer Product Limited, Cisco Systems, Magal Security Systems Ltd., Bosch Security Systems, Johnson Controls, Honeywell International Inc., Tyco International Ltd., Siemens AG, NEC Corporation, and Panasonic Corporation among others.
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The report segments global electronic access control system market as follows:
Electronic Access Control Systems Market: Technology Segment Analysis
- Authentication System
- Biometric Authentication System
- Fingerprint Recognition
- Iris Recognition
- Signature Recognition
- Face Recognition
- Palm Recognition
- Vein Recognition
- Voice Recognition
- Card Based Authentication System
- Intruder Alarm Systems
- Motion Detector
- Glass Break Detector
- Door/Window Sensor
- Perimeter Security System
- Free Standing Intruder Alarm System
- Fence Security System
- Buried Perimeter Security System
Electronic Access Control Systems Market: Application Segment Analysis
- Residential
- Commercial
- Government
- Industrial
Electronic Access Control Systems Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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