A recent report published by Infinium Global Research on electronic access control system market provides an in-depth analysis of segments and sub-segments in the global as well as regional electronic access control system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electronic access control system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electronic access control system market. According to the report, the global electronic access control system market is projected to grow at a CAGR of 9.3% over the forecast period of 2019-2025.
Electronic Access Control System is a type of system that permits restricted access into premises using the electromechanical hardware method. It is used in different fields such as government, private residential and commercial. Owing to its advantages such as high accuracy, efficiency, and convenience over other security. It provides precise authentication service and identification which helps to reduce illegal access to data, in order to minimize and track criminal activities, illegal activities, and fraudulence. This system is available in different solutions such as an alarm system, perimeter security and authentication system which helps to control access in offices and operation. The major purpose of an electronic access control system is to provide convenient and quick access to those people who are authorized at the same time restricting access to unauthorized persons. The software programs used in this system allow security administrators the ability to determine who can have access at what time and on which day or time. The area which requires high-security use a different type of electronic access control system such as card readers, door controllers, biometric and RFID. These access points are controlled individually as per the requirement of the company or organization where high security is necessary. This type of security is important especially in companies that handle sensitive data.
The rapid growth of the hospital, IT, banking and retail sector provides growth opportunities for the Electronic Access Control System market. Furthermore, the increasing need to limit individual premises access, increase in crime and growing security concerns drive the electronic access control system market. However, lack of awareness and higher costs associated with it hinders the growth of the electronic access control system market.
Geographically, the electronic access control system market is segmented into North America, Asia Pacific, Europe, and RoW. The Asia Pacific is expected to hold high shares in this market owing to the rapid pace of commercialization, industrial development and increasing living standards of the people furthermore growing government spending on the security system in their premises and increase in crimes rates in this region drives the electronic access control system market.
The report on global electronic access control system market covers segments such as system, and end user. On the basis of system, the sub-markets include biometric system, card based authentication system, intruder alarm system, and perimeter security system. On the basis of end user, the sub-markets include residential, commercial, government, and industrial.
The report provides profiles of the companies in the market such as Cisco Systems Inc, Cognitec Systems GmbH, Aiphone Co. Ltd, Bio-Key International Inc, Bosch Security Systems, Honeywell International PLC, Panasonic Corporation, Assa Abloy AB, Boyce Company Ltd, and Napco Securities Technologies Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electronic access control system market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.