Global Electronic Access Control Systems (EACS) Market Report 2021: Market to Surpass $10 Billion by 2027 - Expanding e-Governance Projects Drive Opportunities

Dublin, Aug. 24, 2021 (GLOBE NEWSWIRE) -- The "Electronic Access Control Systems (EACS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Electronic Access Control Systems (EACS) Market to Reach $10.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Electronic Access Control Systems (EACS) estimated at US$6.2 Billion in the year 2020, is projected to reach a revised size of US$10.1 Billion by 2027, growing at a CAGR of 7.3% over the analysis period 2020-2027.

Biometrics-Based EACS, one of the segments analyzed in the report, is projected to record a 8% CAGR and reach US$6.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Card-Based EACS segment is readjusted to a revised 6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 11% CAGR

The Electronic Access Control Systems (EACS) market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2027 trailing a CAGR of 11.2% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 6.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

Other Types Segment to Record 7.3% CAGR

In the global Other Types segment, USA, Canada, Japan, China and Europe will drive the 6.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$322.9 Million in the year 2020 will reach a projected size of US$509.5 Million by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.4 Billion by the year 2027, while Latin America will expand at a 8.6% CAGR through the analysis period.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• 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

2. FOCUS ON SELECT PLAYERS

• ADT LLC

• Allegion plc

• ASSA ABLOY AB

• HID Global Corporation

• Axis Communications AB

• BIO-key, International, Inc.

• Bosch Security Systems

• Crossmatch Technologies, Inc.

• DoorKing, Inc.

• dormakaba Holding AG

• Fermax Electronica S.A.U.

• Gemalto N.V.

• Gunnebo AB

• Honeywell International, Inc.

• IDenticard Systems

• Identiv Inc.

• ISONAS

• Johnson Controls International Plc

• Kisi, Inc.

• NAPCO Security Technologies, Inc.

• NEC Corporation of America, Inc.

• Nortek Security and Control LLC

• Oberthur Technologies SA

• IDEMIA

• Pelco, Inc.

• SecuGen Corporation

• Sony Corporation

• STANLEY Security

• The Chamberlain Group, Inc.

• UTC Climate, Controls & Security

• Vanderbilt Industries

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

• Total Companies Profiled: 243

For more information about this report visit https://www.researchandmarkets.com/r/vgg26a

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