Access Control and Authentication Market - Global Industry Analysis, Size, Share, Growth, Outlook and Forecast to 2022 : Brisk Insights

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Date Submitted: 09/14/2016 04:19 AM

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According to a recently published report, the global Access Control And Authentication Market is expected to grow at a CAGR of 16.2% during the forecast period of 2016-2022 and is projected to reach $70 billion by 2022. The segmentation of global access control and authentication market is based on product types, applications and geography. The report on global access control and authentication market forecast, 2016-2022 (product types, applications and geography) provides detailed overview and predictive analysis of the market.

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Global access control and authentication systems are used to control the access of objects and people, monitor them, and prevents intrusion into any property or information. In the recent years, research and development and rising innovation has given a strong momentum to the global access control and authentication market. Rising need for safety and security and wide adoption of these systems in end user industry are the major driving factor of global access control and authentication market. In U.S. alone, on an average, in every 13 seconds an intrusion is committed. In 2014, approximately 71% of the organizations were affected by a successful cyber attack and it is estimated to increase at the rate of 61% annually in the coming years. Europe saw 41% increase in cyber intrusions in 2014. These intrusions cost on an average of $3.5 million per organization. In addition, increase in the number of road accidents due to violation of traffic laws is the major concern for governments of most of the countries. In order to cater this problem, government is incorporating new technologies. A large number of countries in North America and Europe are installing automatic number plate recognition, which in turn will spur the demand of global access control and authentication market. However, few restraints and challenges such as increasing...