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Future Market Insights, a research firm in India, projects that the electronic card based access control market in North America will increase by almost $1 billion dollars over the next 6 years; market share in 2014 was approximately $2 billion and it is expected to increase to $3 billion by 2020.
Pallavi Guhe, senior consultant at Future Market Insights told Security Systems News that the North American market is expected to surpass all other global regions in the electronic card based market. She said that the 2014 global value was approximately $6 billion and it will increase close to $11 billion by 2020.
The report discusses two types of access control cards: smart cards and proximity cards. The report did not state which type of technology is the currently the most popular or which will prevail in the future. The report also reviewed the market by types of end-users; government, commercial, industrial, and residential.
“Commercial and industrial end-user segments are expected to lead the global market by value. Additionally, these segments are expected to show the leading growth rates for coming five years as compared to other end-user segments,” she said. Guhe said that crime and terrorist activities are driving the increase in market growth.
Healthcare facilities, pharmaceutical companies and financial institutions are increasing demand for card access control system, said Guhe.