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Senior Correspondent, IFSEC Global

September 3, 2015

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Terror Threat and Regulations Fuelling Growth in Global Access Control Market

The global electronic access control systems market is projected to grow to more than £20.3bn by 2019, according to a study conducted by Persistence Market Research.

The market is predicted to grow at a compound annual growth rate (CAGR) of 12.6% for the period 2013 to 2019.

The highest regional CAGR growth during this period will be witnessed in the Asia-Pacific region, predicted by the study to post 16.7% to reach a value of £6.3bn by 2019.

Strong growth in the electronic access control market is partly attributed by the study to the rising global terror threat, which is prompting authorities and businesses to tighten security.

Since 2012 there has been a 69% rise in terrorist attacks worldwide according to the Study of Terrorism and Responses, to Terrorism (START).

Stricter government regulations placing emphasis on greater security and the creation of new infrastructure are also going to be key drivers of the growth, according to Persistence Market Research.

Another sector that could bring growth to the sector is biometric-enabled smartphones, which are fuelling interest in face recognition, fingerprint recognition, palm recognition, iris recognition, signature recognition, voice recognition, and automated fingerprint identification system or live scan technology.

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