As need for secure buildings increases in the commercial industry, demand for the electronic access control system will continue to rev up globally. In addition, increasing demand for tracking data related to the end users is projected to impact the global market growth of electronic access control systems positively. According to a recently compiled report by Fact.MR, the global electronic access control system market is projected to reflect a CAGR of 6.6% over the forecast period, 2017-2022.
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Factors Fuelling Growth of the Global Market
Growth of the global electronic access control system market is projected to be bound by several macro-economic, and micro-economic factors. Surge in need to secure the government and commercial premises continues to rev up demand of electronic access control systems. Increasing prevalence of thefts, and data breaches continues to pose significant challenges to the market players globally. Demand for the security system in the residential, government, and healthcare industry is likely to impact the global market growth positively.
Adoption of the electronic access control system in the healthcare industry is also projected to rev up demand in the global market. Increasing demand to protect the patients under treatment procedures along with doctors is projected to impact the global market growth positively. In addition, growing need to keep the medical devices, and equipment secure from theft is projected to boost demand for the security systems in the healthcare industry. Bound to these factors, growth of the global electronic access control systems market is projected to increase during the forecast period.
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Although the overall outlook on growth of the global market looks positive, several factors continue to inhibit demand for the electronic access control systems. As these systems are comparatively costly to conventional security systems, demand for the electronic access control system is projected to drop. Moreover, growing incidences of false alarms in several electronic access control systems is projected to restrain growth of the market globally.
Market Segments Covered
Biometrics Electronic Access Control SystemsCard-based Electronic Access Control SystemsKeypad Electronic Access Control SystemsIntruder Alarm Electronic Access Control SystemsPerimeter Security Electronic Access Control Systems
By End User
Electronic Access Control Systems for Government & DefenseElectronic Access Control Systems for Commercial & Institutional UseIndustrial Electronic Access Control SystemsResidential Electronic Access Control Systems
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Major players in the global market of electronic access control system are Cisco Systems, Inc, Siemens AG, Honeywell International Inc, Robert Bosch GmbH, Panasonic Corporation, Schneider Electric SE, Fujitsu Limited, Johnson Controls International plc, Ingersoll-Rand Plc, and ASSA ABLOY AB.
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