Persistence Market Research reports the global electronic access control (EAC) systems market is forecast to increase from $US15.4 billion in 2013 to $31.2 billion in 2019, growing at a compound annual growth (CAGR) of 12.6 per cent.
And according to the report, the Asia-Pacific EAC systems market is expected to record the highest CAGR growth of 16.7 per cent to reach $9.6 billion in 2019. Usage of EAC systems in the commercial sector (the largest end user in 2013) increased by 13.9 per cent CAGR during 2009-2013 to reach $4.6 billion in 2013.
Terrorist attacks, vandalism and violence in public places such as city centres and educational institutions are some of the factors leading to increasing demand for EAC systems, according to Persistence.
Also likely to push growth are lateral developments of access control technology that make access rights available at the pointy end of security operations, leverage existing carried technologies to reduce the cost of maintaining card libraries, and incorporate ROI-building automation integrations that are readily accessible to installers and integrators. ♦