Global Electronic Access Control Systems Market to Reach US$6.0 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Electronic Access Control Systems. Although the prolonged severity of the recent economic slowdown, and depressed key end-use sectors have elicited decline in value sales for electronic access control systems (EACS), the market is nevertheless expected to recover poise in the short to medium term period to reach US$6.0 billion by 2015. Primary factors fingered to drive this growth include increasing concerns over safety and security among individuals and organizations, post recession resurgence in key end-use markets and technology developments. Robust growth in demand from developing markets, particularly Asia-Pacific also augurs well for the market.
By product, Card-Based Electronic Access control systems market continues to be the largest product segment, holding a lion’s share of the global market. Smart cards represent the largest revenue contributor to the card-based EACS market. Audio and Video-Based Electronic Access Control Systems market is the fastest growing product segment, waxing at a CAGR of about 6.8% over the analysis period Major players in the marketplace include Aiphone Co. Ltd., ASSA ABLOY AB, BIO-key, International Inc., DigitalPersona Inc, Gunnebo Ab, Hirsch Electronics Corporation, Honeywell Access Systems, Ingersoll Rand Recognition Systems Inc., Linear LLC, Imprivata® Inc., Kaba Holding AG, L-1 Identity Solutions, NAPCO Security Systems Inc., PAC International Ltd, SAFRAN Group, SecuGen Corporation, Siemens Industry USA Building Technologies, The Chamberlain Group Inc, UTC Fire & Security, Chubb Securite S.A.S, and GE Security Inc.
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Despite the popular perception that ever-present safety & security needs and rising crime rates, which interestingly tend to escalate during periods of economic downturn,make electronic Access Control System market recession proof, the market ironically has shown signs of marked weakening in the midst of steady deterioration in business climate. With most key end-use sectors i.e. banking, financial services, retail (malls, multiplexes), IT sector, construction, and hospitality (hotels & restaurants) collapsing like a pack of cards, growth patterns have been largely distorted. The forced delay in launch of new retail projects such as malls, chain retailers and franchise outlets, as a result of distortions in economic variables, such as, drying up of debt markets, lack of capital investments, and deep corporate budgets cuts, have eroded market opportunities for EACS.
The meltdown of the construction industry, as reflected in the general weakness in new office, commercial and residential building projects, rising vacancy rates, construction delays and sharp falls in the number of applications for new building permits, and government scaling back of infrastructure-related projects have also played instrumental roles in negatively impacting new equipment order influx rates for EACS. For instance, although a very valuable addition to security infrastructure, the importance of electronic access control systems has temporarily been overshadowed as building owners focus squarely on surviving the crisis. In addition, widespread postponements, cancellation of upgradation security projects and delays in scheduled system replacements in existing facilities, have resulted in sharp declines in replacement demand. However, a transient disruption in the economic climate like the recent recession is not likely to leave an indelible mark on the market, as prevention of authorized access and detection of perpetrators will always remain vital in the overall security arrangements. Although the tough economic climate has squeezed new orders for EACS, the focus on safety and security among organizations, government agencies and general public continues to remain unchanged, as security coverage is closely tied to safety of human life and asset protection in infrastructure facilities and residential and commercial centers.
The research report titled “Electronic Access Control Systems: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and
projections in value sales for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia & Rest of Europe), Asia-Pacific, Middle East and Latin America. Product segments analyzed include Card Based EACS (Proximity Cards, Smart Cards, Legacy Technology based Cards and Others), Biometrics-Based EACS (Fingerprint Face Recognition Voice/Signature Verification, Hand Geometry and Iris Recognition), Audio and Video- Based EACS and Keypad-Based EACS
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