The global electronic access control systems market is expected to develop at a CAGR of 12.6% from 2014 to 2019. Consistency in this growth rate will allow the market to reach US$31.188 billion in 2019. The global access control systems market was worth US$15.406 billion in 2013, according to a research released by Transparency Market Research. The report titled “Electronic Access Control Systems Market Global Forecast, Market Share, Size, Growth and Industry Analysis, 2014 – 2019” explores the global access control systems market in detail to provide accurate forecasts regarding the market’s growth prospects.
The key driver of the global electronic access control systems market is the growing rate of criminal activities and terror attacks on especially public and government locations. Private facilities and homes are targeted as well, making the global electronic access control systems needed in an even greater level today.
The global electronic access control systems market is a part of the global security market, and therefore has to compete with other security features and services to grow in terms of revenue. Key attributes that will attract consumers to the global electronic access control systems market, according to the report, are its high accuracy and efficiency in time, cost, and convenience.
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Government bodies that are seeking superior security systems to negate fraudulent entries, criminal activities, and even illegal immigration, can find the tools and services for them through the global electronic access control systems market.The largest segment in the global electronic access control systems market for 2013 was authentication systems, which exhibited a CAGR of 12.6% between 2009 and 2013. By the end of 2013, this segment had generated a revenue of US$11.7 billion.