Technology has not only seen great change over the last decade, but there have been vast changes at an impressive speed. While the access control market has been challenged to keep pace with this influx of change, current data and predictions show that this segment is poised for continued growth and a positive shift in the global market.
According to the IHS research firm, the access control market reached new peaks in 2015 with a significant spike to the $1 billion mark, and a predicted rise to $2 billion by 2020. This was an increase from 2014, which peaked at $961 million. As the economy picked up, and world events such as terrorist attacks certainly affected the security market, this was reflected by growth in the access control market – and the security market overall.
The trend toward integrated access control is expected to see even further growth as customers continue to realize the advantages of replacing legacy or antiquated systems with systems that can be easily integrated with open-platform, non-proprietary hardware and software. While competitive pricing has affected tools such as video surveillance, market stability has resulted in steady pricing for access control.
A forecast study conducted by SDM Magazine revealed that 66 percent of respondents predict an increase in spending on access control equipment in 2016, and 80 percent report good or excellent standing in the access control market for 2015. With a market that is booming, there are some very essential components that must be addressed.
Unified platforms will lead the way in the future, replacing disparate and less efficient systems. A more personalized approach to security needs and a greater focus on user experience will also be key factors as the industry moves forward. Working with integrated partners enables a broader view of security trends and innovative security solutions to meet the needs of end users.
Vanderbilt continues to offer quality products, and also recognizes the pertinent task of building and maintaining relationships with customers to fully customize their security and access control needs. Additionally, Vanderbilt’s open-platform design allows for customers to utilize new and legacy hardware and software to create a customized security solution that meets their individual needs. The wave of the future is greater efficiency, and Vanderbilt is committed to achieving this as the access control market steadily increases on a national and global scale.