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Electronic Access Control Systems Market - Offer certain Advantages such as High accuracy, Convenience, and Time Efficiency over other Security Products

02-06-2017 04:09 PM CET | IT, New Media & Software

Press release from: TMR - Research Reports

Electronic Access Control Systems Market - Offer certain

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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TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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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