BURNABY, Canada, April 21, 2015 /PRNewswire/ --
High crime rate, increasing government security spending and evolving government policies are boosting access control systems market in Saudi Arabia
According to a recently published report by TechSci Research "Saudi Arabia Access Control Systems Market Forecast & Opportunities, 2020", the access control systems market in Saudi Arabia is projected to nearly USD1.2 billion by 2020.The access control systems market in the Kingdom is growing at a robust pace owing to rise in expenditure onsecurity infrastructure due to increasing incidences of fraudulence, criminal activities and security threats. Further, increasing security threats in Middle East is compelling businesses and government to reconsider their security infrastructure.
Governmental entities and BFSI companies account for a majority share in the demand for access control systems in the country. Government sector accounts for a lion's share in the overall access control systems market. Banks are focusing on expanding their presence by undertaking new projects and optimizing infrastructure. This is expected to raise the demand for advanced and fool proof security systems in the coming years. Few of the major players in Saudi Arabia access control systems market include Bosch Security Systems, Johnson Controls, Siemens, Honeywell, Genetec, NEC Corporation, Nedap, IrisGuard, 3M Cogentand Cisco Systems, among others.
Access cards and biometrics based access control systems currently lead the Saudi Arabia market. A prominent trend in access control systems market is the rising use of physical access control system and IT security on a single platform. In addition, centralized credential management across the security infrastructure helps enhance a company's operational efficiency. Further, organizations are increasingly migrating from analog to IP-enabled physical access control systems to improve operational efficiency, security and availability.
"Biometric security is currently a proven and a stable technology, with a small failure rate in terms of the identification process. In Saudi Arabia, biometrics market is gaining momentum, with one of the largest contributors being the fingerprint biometrics segment, which accounts for the largest share due to the ease of usage and cost efficiency.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Saudi Arabia Access Control Systems Forecast & Opportunities, 2020" has evaluated the future growth potential of the access control systems market in Saudi Arabia. The report provides statistics and information on market structure, consumer behavior and trends. In addition, the report also includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevailing in the Saudi Arabia access control systems market.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
Sales & Marketing Consultant
Contact Phone- +1 646 360 1656
Email- [email protected]
SOURCE TechSci Research