Tuesday 26 October 2021
 
»
 
»
Story

Biometric security is currently a proven
and a stable technology, say experts.

Saudi access control systems market to hit $1.2bn

BURNABY, Canada, April 22, 2015

High crime rate, increasing government security spending and evolving government policies are boosting Saudi Arabia’s access control systems market, which is projected to touch nearly $1.2 billion by 2020, a report said.

The access control systems market in the Kingdom is growing at a robust pace owing to rise in expenditure insecurity infrastructure due to increasing incidences of fraudulence, criminal activities and security threats, explained the report "Saudi Arabia Access Control Systems Market Forecast & Opportunities, 2020” by TechSci Research, a global market research and consulting company.

Further, increasing security threats in Middle East is compelling businesses and government to reconsider their security infrastructure, it added.

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, according to the report.

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, organisations 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,” said Karan Chechi, research director with TechSci Research.

“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."

The report provides statistics and information on market structure, consumer behaviour 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.

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. – TradeArabia News Service




Tags: Saudi Arabia | TechSci Research |

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads