The competitive landscape of the global
access control and authentication market is highly fragmented
owing to the presence of a large number of players with small market
shares, says Transparency Market Research (TMR) in a recent report.
As innovation is the key to enter or sustain in the market, many new
players are focusing on the development of innovative products.
However, to keep up with the pace of innovation and to stay ahead of
current technology curve, big companies are merging with
organizations that will give them more resources. Events such as
Honeywell acquiring Xtralis and RSI Video Technologies in early 2016
and partnership between Bosch Security Systems with Sony in early
2017 are intensifying the competitive landscape of this industry.
Some of the leading companies in the market are Morpho Safran, Inc.,
Honeywell International, Inc., Bosch Security Systems, and 3M Company
were identified as prominent players in this market.
In the report, Transparency Market
Research (TMR) has revealed that in 2013, the global access control
and authentication market was valued at US$ 18,723.6 mn. The market
is expected to exhibit a CAGR of 15.3% from 2014 and 2020 and is
estimated to reach a valuation of US$ 49,890.3 mn by 2020.
One of the key applications of access
control and authentication solutions, EAC systems occupied the
dominant share in the global market in 2014, due to huge demand for
security systems from various industrial segments, especially across
logistics and transportation. Compared to document readers and ANPR,
EAC system is a more technologically advanced segment. However,
applications of access control and authentication systems in document
reader and ANPR sectors are in the developmental stage and are
expected to grow over the forecast period. Furthermore, rise in the
number of road accidents is leading to the increased demand for
advanced ANPR systems.
As a consequence of 9/11 terrorist
attack, the market for electronic access control and authentication
has escalated in the North America. Also, due to strict compliance
rules and security laws, the North America market dominated the
global access control and authentication market in 2013, holding the
dominant share. Whereas, Asia Pacific dominated in terms of growth
rate due to developing public infrastructure and technological
advancements.
Growing awareness, rising security
concerns, and acceptance of technology for security purposes are
among the key driving factors of the global access control and
authentication market.
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Prevention of activities like vandalism
in logistics and transportation, trafficking, smuggling, crime, and
terrorism are motivating governments from across the world to set
strict laws and regulations and enhance security systems. Governments
have instigated strict laws for the transportation sector. Moreover,
the growing demands from sectors such as education, healthcare,
hospitality, and retail are anticipated to boost the growth prospects
of the global market. In business organizations, access control and
authentication systems find uses across applications areas such as
remote diagnostics and configuration, equipment/location
identification, user authentication for remote connections, access to
network services, and keeping passwords and privileges. The rising
set of applications from the enterprise sector is further anticipated
to poise the market.
The rising cost of advanced access
control and authentication systems may act as a restraint for market
growth. However, emerging technologies and innovations are expected
to overcome this challenge. Trend for mobility-based solutions are
motivating the engineers to build mobile security solutions. However,
connecting these devices through the wireless mode is considered
insecure by various end-user industries. Nevertheless, manufacturers
are continually developing technologically advanced equipment, which
is estimated to help the market gain sustainable growth
opportunities.
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