According to a new report from Global Industry Analysts, the global market for card-based electronic access control systems is projected to reach $8.6 billion by 2018, driven by rising concerns in both the public and private sectors over the need to control access to information and property.
In a statement, the research firm says that card-based access systems are "increasingly finding favor" in a variety of industries including government buildings, corporate offices, banks, infrastructure facilities, as well as commercial and residential construction. These systems are also being for logical access applications to prevent unauthorized entry into computers, servers and networks.
While the U.S. is the largest regional market for card-based access systems, the fastest growing market is in the Middle East where sales are expected to reach a compound annual growth rate of 13.2 percent.
Among the different product segments, smart cards are expected to grow the fastest at a CAGR of about 10.7 percent. However, proximity cards continue to make up the bulk of the market.
The markets major players, according to the research firm, include Assa Abloy, Bosch, Gemalto, Gunnebo, Ingersoll Rand, Napco Security Technologies, Oberthur Technologies, PAC International, SAFRAN Group, and UTC.
Click here for more information about the report.
