August 3, 2007 — Driven by the threat of terrorism, the need for securing business assets and employees and a stringent legislative environment, the market for electronic access control systems is set to reach $6.1 billion by 2010, according to a report by Global Industry Analysts Inc.
Even with maturity in the industrial, residential and commercial sectors, sales of electronic access control systems is one of the fastest growing sectors of the security industry. There is also a growing demand for heterogeneous technologies for security applications, and RFID technology is expected to contribute to market expansion.
The United States is the largest market worldwide, worth an estimated $2.2 billion in 2007, according to the report. Europe is the second largest regional market, followed by Asia.
The global and regional markets are expected to grow between 15 and 20 percent per year. Card Based electronic access, including proximity and smart cards, represents the leading product segment, capturing more than 65 percent share of value sales. The segment is expected to register sales of about $3.5 billion by 2010.
Biometric solutions are also making fast inroads because of their 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. Another report by Global Industry Analysts Inc. shows that biometric sales are to exceed $6.48 billion by 2010.
For more about the research reports, or to purchase them, see Global Industry Analysts Inc (Electronic access, Biometrics).
