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Dehumidifier Market to Reach US$2.97 bn by 2020, Driven by Demand from Industrial and Commercial Sectors

10-21-2016 04:06 PM CET | IT, New Media & Software

Press release from: TMR Research Reports

Security is one of the major concerns of governments and individuals. Security concerns prompt governments, financial institutes, corporate and residential buildings to install better security systems. EAC systems are among the leading segments in the overall security market. EAC system refers to a method of using electronic or electromechanical hardware to allow restricted access into premises. Rising terrorist attacks, vandalism, and violence in public places such as city centers and educational institution are some of the factors leading to increasing demand for EAC system products. Need for better security systems to tackle fraudulence, illegal immigration, and criminal activities have propelled governments to invest in EAC systems. According to Study of Terrorism and Responses to Terrorism (START), one of the world’s top terrorism trackers, 2012 witnessed 69% rise in terror attacks and 89% increase in fatalities caused by them over 2011. Increasing crime and terror attacks demand high-end security. EAC systems offer certain advantages such as high accuracy, convenience, and time efficiency over other security products, which increase its attractiveness in the global security market. Governments and private sectors across the globe are investing in better infrastructure facilities.

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Construction of roads, residential buildings, healthcare centers and educational institutes is further expected to increase demand for EAC systems in order to attain better security levels. Local and national government have instructed the private sectors to invest on security system for the prevention of population and property from illegal acts. Advancement of mobile devices and sensor technologies is currently generating a shift toward biometrics system.

EAC system is majorly divided into three major technologies, authentication system (biometric and card based authentication system), intruder alarm system and perimeter security system (free standing and buried perimeter security system). The global market for EAC system in value term grew from USD 10.1 billion in 2009 to USD 15.4 billion in 2013, and is expected to grow to USD 31.2 billion in 2019 growing at a CAGR of 12.6%. The Authentication system (largest market in 2013) increased by 13.1% CAGR during 2009-2013 to reach USD 11.7 billion in 2013. The Asia-Pacific EAC systems market expected to record the highest CAGR growth of 16.7% to reach USD 9.6 billion in 2019. Usage of EAC system in commercial sector (largest end-user in 2013) increased by 13.9% CAGR during 2009-2013 to reach USD 4.6 billion in 2013.

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The security system market is fragmented with several players operating at a global or regional level, supplying security products which include EAC systems. Major companies operating globally and providing products under all three categories of EAC systems are United Technologies Corporation, Tyco International Ltd., Godrej Industries Limited, and Cisco Systems, Inc. There are companies which operate globally and provide products under two categories of EAC systems. Major examples of such companies are Safran SA (authentication and intruder alarm system), 3M Cogent, Inc. (authentication and perimeter security system), Panasonic Corporation (intruder alarm and perimeter security), and Honeywell International Inc. (authentication and intruder alarm). Some companies operate on the global level and provide only one EAC system product. Major examples of such companies are Siemens AG (authentication system), Hitachi Ltd. (intruder alarm), and Magal Security Systems Ltd. (perimeter security system). Additionally, there are companies which operate in one region and specialize in one EAC system product such as DigitalPersona, Inc. (authentication system) and Everspring Industry Co., Ltd. (intruder alarm system).

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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