Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The "Electronic Access Control Systems (EACS): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Electronic Access Control Systems (EACS) estimated at US$10.1 Billion in the year 2022, is projected to reach a revised size of US$34.1 Billion by 2030, growing at a CAGR of 16.4% over the analysis period 2022-2030.
Authentication Systems, one of the segments analyzed in the report, is projected to record 19.1% CAGR and reach US$21.8 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Intruder Alarm Systems segment is readjusted to a revised 12.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 27.4% CAGR
The Electronic Access Control Systems (EACS) market in the U.S. is estimated at US$2.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$11.8 Billion by the year 2030 trailing a CAGR of 27.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 13.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
Select Competitors (Total 256 Featured) -
- ADT LLC
- Allegion Plc
- ASSA ABLOY AB
- Axis Communications AB
- BIO-key
- Bosch Security Systems
- dormakaba Holding AG
- Gemalto N.V.
- Gunnebo AB
- Honeywell International, Inc.
- Identiv Inc.
- ISONAS
- Johnson Controls International Plc
- Kisi Inc.
- NEC Corporation of America
- Nortek Security and Control LLC
- Oberthur Technologies SA
- SecuGen Corporation
- Sony Corporation
- STANLEY Security
- UTC Climate
- Vanderbilt Industries
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 302 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $9.9 Billion |
| Forecasted Market Value (USD) by 2027 | $22.4 Billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- EACS: Enabling Easier Protection and Control of Assets, People, and Property through Authorized & Restricted Access
- Recent Market Activity
- EACS: The Dominant Electronic Security Systems Category
- Important Factors Driving Widespread Adoption of EACS over the Years
- Consumer Perception of Crime
- Regulatory Mandates
- New Building Constructions/Renovations
- Product Innovations & Introductions
- Growing Need to Establish a National Identity Framework in Countries across the World: The Fundamental Growth Driver
- Secure Document Implementations across the World by 2021
- Economic Empowerment through National Identity
- Mobile Identity (mID)
- Digital Driver's License on the Mobile Phone
- National Identity Schemes
- Global Market Outlook
- Developing Countries to Spearhead Growth and Replace the Hitherto Dominant US and European Markets
- Electronic Access Control Systems (EACS) - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- EACS' Grand Convergence Supported by Game Changing Trends and Technologies Drive Strong Market Growth
- Widespread Adoption of Smart Mobile Devices Enabling Anytime, Anywhere Access Control Drive Market Penetration
- Smartphones Revolutionize Access Control Technology
- Growing Popularity of Smarts Cards in Providing Enhanced Protection Drives Healthy Demand for Card-Based EACS
- Smart Cards Outshines Traditional Legacy & Proximity Cards
- Remote Login Made Secure by Smart Card Based EACS
- Demand for Multi-Application Smart Cards Gain Momentum
- Multiple Applications of Smart Cards Summarized
- Biometrics: The Critically Important Authentication Technology Fast Replace the Vulnerable Traditional Access Control Approaches
- Benefits
- Market Drivers in a Nutshell
- Market Inhibitors
- Biometrics: The Dominant Electronic Access Control Technology
- Frictionless Face and Iris Recognition Technologies to Take Over Fingerprint Biometrics
- Law Enforcement Agencies to Invest Significantly in Biometrics Implementations
- Expanding e-Governance Projects Drive Opportunities
- Prisons & Detention Centers Bank on Biometrics Technology
- Ubiquitous Access Control Cards to Stay Relevant Despite Rise of Biometrics
- Massive Installed Base
- Non-Requirement of Higher Security
- Cards Work Every Time
- Simple Measures to Improve Card Security
- Upcoming Smart Cities to Fuel Large-Scale Adoption
- Smart Homes to Drive Demand for Biometric Solutions
- Growing Trend towards Affordable & Efficient Access Control Solutions Boost Adoption of Cloud Based ACaaS
- Access Control as a Service (ACaaS): A Plug and Play Environment for Access Control Deployments
- Cloud Services to Drive Mobility for Audio & Video Authentication
- Rising Need for Identification and Authentication Drive Demand in the Commercial & Enterprise Sector
- Globalization & Workforce Decentralization Boost EACS Demand
- Stringent Data Protection Laws Benefit Prospects in the Enterprise Sector
- Biometrics Identify Potential Opportunities in the Retail Segment
- Small and Mid-Sized Businesses: A Lucrative Market Segment
- Banking and Financial Services Sector: Most Promising End-use Market for EACS
- Biometric Payment Cards Provide Additional Security
- Expanding Social Network Footprint Opens Opportunities
- EACS: A Mandatory Requirement for the Industrial Sector
- Hand Geometry Biometrics for Harsh Working Environments
- Behavioral EACS Technologies Gain Prominence
- Rising Penetration of EACS Solutions in Airport Security Promote Market Expansion
- Immigration Control & Travel Document Verification
- EACS Deployments Gain Traction in the Hospitality Sector
- Card-based EACS: A Widely Acknowledged Access Technology in Hospitality Facilities
- Hospitality Sector Offers Significant Growth Opportunities for Biometrics-based EACS
- Increasing Deployments of EACS in the Education Sector Lends Traction to Market Growth
- Smart Card EACS Gaining Traction in Educational Facilities
- Healthcare Establishments Offer Huge Untapped Market Potential for EACS
- Contactless Access
- Smart Cards and Readers
- Recovery in Construction Activity Worldwide Offer Bright Prospects for the EACS Market
- Exponential Increase in Global Urban Population Benefits Market Demand
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/41t3ln
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