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Global Physical Access Control Market – US$6.0 Billion by 2015

Global Physical Access Control Market – US$6.0 Billion by 2015

Global Physical Access Control Market – US$6.0 Billion by 2015

Global Physical Access Control Market – US$6.0 Billion by 2015

Global Physical Access Control Market – US$6.0 Billion by 2015

Although the prolonged severity of the recent economic slowdown, and depressed key end-use sectors have elicited decline in value sales for physical access control systems, the market is nevertheless expected to recover poise in the short to medium term period to reach US$6.0 billion by 2015, according to Global Industry Analysts report. Primary factors fingered to drive this growth include increasing concerns over safety and security among individuals and organizations, post recession resurgence in key end-use markets and technology developments. Robust growth in demand from developing markets, particularly Asia-Pacific also augurs well for the market.

However, the market has shown signs of marked weakening. With most key end-use sectors i.e. banking, financial services, retail (malls, multiplexes), construction, and hospitality (hotels & restaurants) collapsing like a pack of cards, growth patterns have been largely distorted. The forced delay in launch of new retail projects such as malls, chain retailers and franchise outlets, as a result of distortions in economic variables, such as, drying up of debt markets, lack of capital investments, and deep corporate budgets cuts, have eroded market opportunities for physical access control.

HID Global surveyed security system users, integrators, installers, product distributors and consultants to understand their views on change and industry best practices for physical access control.

“This survey raises questions about how well organizations are keeping up with the bad guys,” said John Fenske, vice president of product marketing, Physical Access Control with HID Global.   “Complacency isn’t wise, however, and adherence to industry best practices will be increasingly critical in order to take advantage of the coming generation of technologies and capabilities, including mobile access control on smartphones.  A reliance on legacy infrastructure, technology and mindsets will make it hard to keep up with today’s technology advances that address a world of increasingly sophisticated threats.”

HID Global’s infographic combines results from its survey with published data on security breaches and associated costs.  Key findings incorporated into the infographic include:
·        Only 37 percent of users perform annual security assessments, and most users do not contract a third party to test their existing PACS. This means users either conduct their own security audits or penetration exercise internally, or do not test their systems at all.
·        More than half of respondents have not upgraded in the last year, and more than 20 percent haven’t upgraded in the last three years.
·        75 percent of end users said cards with cryptography were important.  The majority also believes that magstripe and proximity technologies provide adequate security, despite their vulnerability to cloning.
·        75 percent of respondents state that the highest-security technologies were important or very important, but half said they weren’t implementing them well, or at all.   Over 90 percent felt the most secure policies were important or very important, with only 70 percent felt they were implementing them effectively or very effectively.
·        Biggest barriers to best-practice implementation were budget-related, and management not seeing value in the investment.  Yet the cost of not investing in best practices can be very high – for example, $5.4 million for a data breach, according to Ponemon Institute.

HID Global believes that current perceptions about access control will have an impact on the adoption of future technologies.  For instance, mobile access control on smartphones will enable a more hassle-free access control experience for users, who can carry all of their keys and credentials on a device they carefully protect and rarely lose or forget.  However, if the market continues to delay shoring up its best practices now against today’s threats to traditional cards and readers, it will be difficult for enterprise infrastructures to seamlessly move to digital credentials carried on smartphones in a BYOD deployment environment with new and different security threats. Technology advances continue to skyrocket as threats become more sophisticated. Legacy proprietary infrastructure, technology and mindsets make it hard to keep up. Migration to open technologies enables organizations to upgrade to improved security and capabilities while preserving earlier investments.

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About Kalpana Singhal

Kalpana Singhal is Co-Founder & Editor in Chief at Techplus Media. She is an Innovative & challenger Entrepreneur who started her journey from corporate communication in early 2001 with I.T. Industry followed by Lead - Editorial at BeautyIndia.in in 2008 . You can follow her on twitter, Google+ and Facebook.

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