The global Electronic Access Control Systems (EACS) market is estimated to reach $16.3 billion by 2017, growing at a CAGR of 7.0% from 2012 to 2017, according to a new market research report available on Reportlinker.com. This growth is mainly attributed to heightened security concerns backed by government and regulatory mandates. The market is, however, facing the issues of technological dormancy and high cost. At the same time, an increasing number of regional regulatory compliances are seen as the major impediment to market growth. There is also a detailed analysis of growth opportunities, key drivers, and restraints of the market; along with emerging industry trends. As a result of the advancement in technologies, there is a renewed interest in upgrading perimeter security systems; both – at the government and enterprise level.
The EACS (Electronic Access Control Systems) market comprising authentication systems, intruder alarm, and perimeter security system has recovered post recession and is showing a promising growth; owing to revived commercial projects and technical advancement in the field. EACS is being employed across various fields; ranging from defense to commercial sectors. Authentication systems’ market is poised to grow at a higher pace owing to increased security concerns and inflating security budgets all over the world as compared to the intruder alarm and perimeter security systems market. Biometrics is the major contributor to authentication systems market. Biometrics technology improves the effectiveness of identification and authentication processes, refurbishes control access to physical and electronic resources, and advances the security of information systems. An emerging trend with respect to the EACS market is the demand for integrated solutions that integrate immediate onsite response with electronic security and alarm systems.
The major players in the market include Bosch Security Systems (Germany), Siemens Building Technologies (Switzerland), Honeywell international Inc. (U.S.), Schneider Electric (France), Assa Abloy AB (Sweden), Tyco International (Switzerland), Magal Security Systems Ltd. (Israel), and Future Fibre Technology (Australia) among others.
Global EACS market is categorized into three basic systems; intruder alarm systems, perimeter security systems, and access control systems. The authentication system is further segmented into four categories on the basis of technology such as “biometrics”, “card-based”, “touch screens and keypads”, and “door contacts”. The intruder alarm systems comprise “detection systems”, “alarm panels”, and “communication devices”. The sub segments of perimeter security systems include “free standing”, “fence and wall mounted”, and “buried” perimeter security system.