Access Control Market by Application (Commercial, Residential, Military & Defense) Worth $10.4 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) March 18, 2015 -- The unification of the biometric technology and mobile devices with access control systems have also propelled the growth of the access control market. These factors are driving the access control market and are expected to continue to do so, in the coming years. The report predicts that the access control market is expected to reach $10.4 billion by 2020, with an estimated CAGR of 10.6%.
Browse 45 market data tables and 70 figures spread through 170 pages and in-depth TOC on "Access Control Market".
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The report details the access control market based on geography in North America, Europe, and APAC. The rest of the world (ROW) region has also been considered wherein the regions like South Africa and Middle East were analyzed. Each of these regions has also been segmented based on countries, wherein the market size of each country pertaining to the access control market has been estimated in the report.
The integration of entrance control along with the biometrics, access cards, and video surveillance and mobile devices is evidence of the unification of different technologies. Today we live in an age where security has become a prime concern, whether it is in a commercial, residential, or homeland sector, with access control becoming a part of everyday life. Unification provides access information, which reduces the overall cost along with the enhancing the features and capabilities of the device. These capabilities of unification are now driving product launch & development, systems integration, and connecting the manufacturers, integrators, and end users; thereby driving the growth of the access control market.
The government and commercial sectors currently are the key areas in the access control market, and advanced access control solutions, access control protocol standardization, and security management are deeply penetrating these areas. The potential of cloud storage which is a newly added concept has still not been realized in the access control industry, unlike other technology sectors. However, the vendors in the access control market are moving towards adopting cloud services for their systems. Apart from this, biometrics is becoming an integral part of the access control market. The access control industry is currently focusing on different biometric recognitions such as iris, hand geometry, signature verification, fingerprint and face recognition techniques, wherein around 60% of the biometrics market is held by the fingerprint sensing technology. The access control market is continuously evolving and is expected to become one of the most profitable industries in the future.
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