Saudi Arabia is investing billions of dollars in infrastructure development including transportation, education, retail, healthcare and hospitality. However, with growth in the infrastructure, security concerns have also increased over recent terrorist attacks in Saudi Arabia. Further, rising data thefts, surging IT spending and need to restrict unwanted access is spurring the market for access control systems. In Saudi Arabia, transportation, commercial offices and retail sector are the major demand drivers for access control systems.
According to 6Wresearch, Saudi Arabia Access Control Systems Market is forecast to grow at CAGR of 10.14% during 2015-21, fueled by growing construction market in the region. Increasing security spending, government expenditure for infrastructure development, growing terrorist threats, and safety of physical assets and critical financial information are boosting the demand for access control systems in Saudi Arabia.
According to “Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch,” Biometric access control systems is anticipated to be one of the fastest growing segments in Saudi Arabia’s access control market, with fingerprint biometric systems contributing majority of revenue in the biometrics market.
“Demand for biometric access control systems is growing across sectors such as commercial offices, banking, retail, healthcare, hospitality and education as these offer high level of security over card reader systems,” Samuel further added.
According to “Ravi Bhandari, Research Associate, Research and Consulting, 6Wresearch,” In the Saudi Arabia Access Control Market, card reader accounted for major revenue share in 2014, followed by biometric and others. However, card reader access control systems are expected to lose their market share by 2021 due to increasing adoption and declining prices of biometric access control systems.
High cost of biometric systems has restricted the expected growth of this segment over the years. However, with improved technology and adoption, the market is expected to grow at significant pace over the coming years, Ravi concluded.
Some of the major companies in Saudi Arabia’s access control market include- Lenel Systems, Honeywell, Bosch Security Systems, Siemens, Samsung Techwin, FingerTec and Tyco.
“Saudi Arabia Access control Market (2015-2021)” provides in-depth analysis with 57 figures and 23 tables covered in more than 130 pages. The report estimates and forecast overall Saudi Arabia’s access control market by revenue, by types & technology of access control systems and verticals such as banking & financial, government & transportation, commercial offices, retail & logistics, industrial & manufacturing, residential, hospitality & healthcare and educational institutions. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.