Electronic Access Control System Market Growth, Trends, Share and Industry Size by 2022

From: Fact.MR
Published: Tue Dec 18 2018


In order to study the many forthcoming movements and patterns prevailing in the global market, FactMR has included the latest Forecast report on Electronic Access Control System Market to its vast database. The delivered study offers significant figures about the leading regions and applications which are functioning in the Electronic Access Control System Market Forthcoming Trends by 2022, along with their market production, consumption, revenue, upcoming industry trends and forecasted market share details. Further, the accomplished market research report also anticipates that the concerned market would grow at a constructive CAGR until 2022.

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Globally, sealing residential, and commercial buildings is becoming need of the hour. Several market players are increasingly integrating the commercial, residential, and educational buildings with electronic security to prevent data breaches, and thefts. The electronic access control systems is becoming a de facto security system for several commercial facilities globally. Integration of the electronic access control systems reduces the risk of security as these highly sophisticated gadgets cannot be duplicated. As these security systems only let end users bypass through entering a code, the end users can save their pocket space and time.

The electronic access control systems continues to witness significant demand attributed to its data tracking features. The 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 global electronic access control systems market positively. Increasing investments by tenants, property managers, and stakeholders has revved up demand for the electronic access control systems 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 global market.

Government Organizations to Fuel Market Growth

Adoption of electronic access control systems 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 global electronic access control systems 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 demand for electronic access control systems globally.

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Growing need for security in the healthcare industry is expected to fuel growth of the global electronic access control systems 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 global electronic access control systems market positively. Further, growing demand for securing the medical equipment, and facilities for various treatment procedure is also expected to fuel growth of the global market during the forecast period.

Card-Based Technology to Represent a Dominant Segment

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.

Competition Tracking

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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