US Electronic Access Control Products & Systems Demand to Reach $7.3 Billion in 2007
CLEVELAND, OH -- (MARKET WIRE) -- 12/10/2003 -- The US market for electronic access control products and systems is projected to increase ten percent per year through 2007 to $7.3 billion. Fueling gains will be ongoing preoccupation with upgrading homeland security in the face of an increasing array of security threats, compounded by geopolitical instability and sustained high crime rates even after an extended period of reported declines. These and other trends are presented in "Biometric & Electronic Access Control Systems," a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
Biometric systems will enjoy especially strong growth, as demand reaches $550 million in 2007. Along with fingerprint and hand geometry systems that have already achieved some commercialization, nonintrusive biometric technologies such as facial and voice recognition hold the potential to develop into fairly sizeable markets over a comparatively short time. Iris scanners, which offer extremely accurate personal identification, hold favorable prospects as well.
Smart card-based access control systems will register nominally rapid growth from an even smaller base than biometrics, but demand will be limited to $100 million in 2007, due to stiff functional competition from cost-effective alternatives. Contraband detection devices -- after enjoying a surge of growth in the single year of 2002 associated with implementation of new federal mandates regarding baggage screening at airports -- will exhibit slower gains as deployment of advanced systems is extended beyond airports.
Most end-user markets will register healthy growth in electronic access controls demand through 2007, with lesser-developed markets such as business/professional/personal services, financial institutions and trade/ distribution establishments generally holding the best prospects in terms of per-annum growth. The industrial sector will also register healthy gains, as an improving capital spending outlook will promote increased investment in electronic access controls and other security measures.
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