Electronic access control systems continue to witness sales, as sealing residential, and commercial buildings is becoming need of the hour. Several players in electronic access control system market are increasingly integrating the commercial, residential, and educational buildings with electronic security to prevent data breaches, and thefts. The electronic access control system is becoming a de facto security system for several commercial facilities globally. Integration of the electronic access control system reduces the risk of security. As electronic access control system only let end users bypass through entering a code, the end users can save their pocket space and time.
A recently published report reveals that the global electronic access control systems market is expected to represent a value of over US$ 24,000 Mn by the end of 2022.
The electronic access control system market continues to witness significant growth attributed to the data tracking features of these security systems. The electronic access control systems tracks and records all the data related to the end users, which can later be used for identification in case of theft or for later reviews.
Significant Demand in Commercial Industry
Growing demand for security systems in the commercial buildings is expected to impact growth of the electronic access control system market positively. Increasing investments by tenants, property managers, and stakeholders has revved up demand for the electronic access control system in the commercial building. This has led to a surge in demand for keeping the property safe from loiterers, fire, theft, vandalism, and other risks. Moreover, surge in the number of faculty members, and visitors is also expected to contribute towards growth of the electronic access control system market.
Electronic Access Control System Market: Government Organizations to Fuel Growth
Adoption of electronic access control system is also expected to expand in the government organizations. Attributed to increasing need for securing the projects initiated by several government organizations, adoption of electronic access control systems is likely to remain high. Moreover, increasing demand for securing the government officials is further expected to impact growth of the electronic access control system market. Several government organizations also include the research and development section to support the initiated projects. Surge in need for securing these government institutes is further expected to fuel growth of the electronic access control system market.
Considerable Demand in the Healthcare Industry
Growing need for security in the healthcare industry is expected to fuel growth of the electronic access control system market. As the need for secure boundaries in the hospitals increase, demand for electronic access control system is further expected to rev up. Moreover, hospitals continue to witness increasing demand for electronic access control systems in order to keep the patients undergoing treatment secure. In addition, surge in need for security of doctors and the staff members is also expected to contribute towards growth of the electronic access control system market positively. Further, growing demand for securing the medical equipment, and facilities for various treatment procedure is also expected to fuel growth of the electronic access control system market during the forecast period.
Electronic Access Control System Market: Card-Based Technology to Remain Preferred
With increasing demand for residential security, adoption of card-based security systems is expected to rev up. Card-based technology is expected to witness the highest revenue growth, accounting for a value of over US$ 2,600 Mn by the end of 2022. However, biometric as compared to other technologies is expected to register the highest CAGR in the global market throughout 2022.
Demand for the electronic access control systems is expected to be high in the commercial & industrial sector as compared to other end users. The commercial & industrial sector is expected to witness the highest revenue growth, recording a value of over US$ 2,000 Mn by the end of 2017. However, government & defense sector is expected to register the highest CAGR in the global market throughout 2022.
Leading market players operating in the global electronic control system market include Siemens AG, Cisco Systems, Inc, Robert Bosch GmbH, Honeywell International Inc, Schneider Electric SE, Panasonic Corporation, Johnson Controls International plc, Fujitsu Limited, ASSA ABLOY AB, and Ingersoll-Rand Plc.
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Post time: May-31-2019