ELECTRONIC ACCESS CONTROL SYSTEMS MARKET ANALYSIS

Key Takeaways from Analyst

The global electronic access control systems market is expected to witness steady growth in the coming years. Some of the key drivers for this growth include rising security concerns across commercial and residential sectors. Government mandates regarding safety and security of critical infrastructure will also boost demand. Further, demand for cloud-based access control solutions owing to the IoT revolution is anticipated to open new opportunities in the market.

However, high initial installation costs of advanced electronic access control systems can negatively impact uptake to some extent. Data and network security challenges associated with wireless and cloud-based systems require attention as well. The replacement of older lock-and-key systems with digital solutions can also meet resistance from certain customer segments.