Electronic Access Control Systems to Reach $6.1 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Driven by the threat of terrorism, the need for securing business assets and employees, and stringent legislative environment, the market for electronic access control systems is set to reach US$6.1 billion by 2010.
San Jose, CA (PRWEB) July 19, 2007 -- Electronic access control systems are one of the fastest growing sectors of the security industry. Though demand in industrial, residential, and commercial sectors has reached maturity, opportunities exist in the form of product replacements and security upgrade. Growing demand for heterogeneous technologies for security applications and RFID technology will also contribute to market expansion. Biometric solutions are fast making inroads since they enjoy an edge over conventional authentication solutions such as passwords, PINs, and tokens. The market for smart cards is also projected to grow especially in banking, mass transit, building, network security, and identification sectors.
United States is the largest market worldwide, worth an estimated US$2.2 billion in 2007. Europe is the second largest regional market followed by a much smaller Asian market at third position. Europe and the US together account for over 80 percent of the global electronic access control systems market as stated by Global Industry Analysts, Inc. The global and regional markets are expected to grow at CAGRs ranging between 15% and 20%. Card Based electronic access, inclusive of among others, proximity and smart cards, represents the leading product segment, capturing over 65% share of value sales. The segment is expected to register sales of about US$3.5 billion by 2010. Biometrics-Based electronic access presents enormous opportunities for growth, with the Iris Recognition sub-segment set to witness fastest growth through 2010.
The global marketplace is characterized by the presence of players such as Aiphone Co, ASSA-ABLOY, BIO-key International Inc., Chubb Securite S.A.S, DigitalPersona, GE Security, Gunnebo AB, Hirsch Electronics Corp., Honeywell Access Systems, Ingersoll Rand Recognition Systems Inc., International Electronics Inc., Kaba Group, L-1 Identity Solutions, Motorola /Printrak International Inc., NAPCO Security Systems Inc., PAC International Ltd, SAFLINK Corporation, SAFRAN Group, SecuGen Corporation, Sentex Systems, Siemens Building Technologies/Bewator Ltd and others.
"Electronic Access Control Systems: A Global Strategic Business Report" by Global Industry Analysts, Inc. provides a comprehensive review of market trends, drivers, product profile, players, competition, technological developments, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Analytics are provided in terms of product segments including Card-Based EACS (Proximity Cards, Smart Cards, Legacy Technology Based Cards, and Others), Biometrics-Based EACS (Fingerprint, Face Recognition, Voice/Signature Verification, Hand Geometry, and Iris Recognition), Audio and Video-Based EACS, and Keypad-EACS.
For more details about this research report, please visit www.strategyr.com/MCP-1142.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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