Global Electronic Access Control System (EAC) Market: Requirement of Better Security Systems to Tackle Increasing Crimin

According to the latest report published by Variant Market Research, the global electronic access control system (EAC) market size is projected to reach $39.6 billion by 2024 from $14.8 billion in 2016. In this report, electronic access control system (EAC) market forecast says that the global market is growing at 13.1% CAGR from 2016 to 2024.
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Illegal immigration to drive the global market
The global electronic access control system (EAC) market trend includes requirement of better security systems to tackle increasing criminal activities, illegal immigration and tackle fraudulence, and high growth in the sectors including IT, banking, retail, and hospital sector. Though, High cost may hinder the electronic access control system (EAC) market growth. Moreover, growing international trade and privatization would provide an opportunity for players of market.
Market Segmentations
The global electronic access control system (EAC) market is classified into technology, application, and geography. Technology segment includes authentication systems, intruder alarm systems, perimeter security systems, and other technologies. Authentication system is further divided into biometric system and card-based system. Further, the market is classified on basis of application into government, commercial, industrial, residential, and other applications. North America (U.S., Mexico, and Canada), Europe (France, Italy, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
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Authentication system, by technology dominated the global market in 2016
Authentication system held for the highest market share in 2016 and expected to continue its dominance over the forecast period, 2016– 2024, owing to inflating security budgets and improved security concerns over the forecast period.
North America dominated the global market in 2016
North America held for the highest market share in 2016 and expected to continue its dominance over the forecast period, 2016– 2024, owing to well-developed economy and increasing demand at highest pace in the country.
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Competitive Landscape
Key players are offering innovative products and services to increase their electronic access control system (EAC) market share. Major players of the market are Assa Abloy AB, Magal Security Systems Ltd., Tyco International, Future Fibre Technology, Schneider Electric, Siemens Building Technologies, Bosch Security Systems, Cisco Systems, Inc, Cognitec System GMBH, and Honeywell International Inc., among others.
Scope of the Global Electronic Access Control System Market
Technology Segments
• Authentication Systems
o Biometric Systems
 Fingerprint
 Facial recognition
 Iris Recognition
 Hand Geometry
 Voice Authentication
 Signature Verification
 Vein
 Livescan
 Others
o Card Based Systems
 Proximity Card
 Smart Card
 Legacy Technology Based Card
• Intruder Alarm Systems
• Perimeter Security Systems
o Free Standing Perimeter Security
o Buried Perimeter Security
o Others
Application Segments
• Government
• Commercial
• Industrial
• Residential
• others
Geographical Segments
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
• RoW
o South America
o Middle East
o Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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