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.
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