A new report from IMS Research, “The World Market for Electronic Physical Access Control Equipment,” predicted strong sustained growth for multitechnology readers. Despite the global economic slowdown, multitechnology readers are forecast to account for more than US$35 million of global reader revenues by 2013, with a compound annual growth rate (CAGR) of 14.2 percent.
A new report from IMS Research, “The World Market for Electronic Physical Access Control Equipment,” predicted strong sustained growth for multitechnology readers. Despite the global economic slowdown, multitechnology readers are forecast to account for more than US$35 million of global reader revenues by 2013, with a compound annual growth rate (CAGR) of 14.2 percent.
An increased need for verification and integration is causing a shift in the market from proximity to smart card technology. Housing both proximity and smart card technology in a single reader, multitechnology readers create a less expensive and ideal transition pathway between the two technologies.
Report author and Market Analyst Blake Kozak said, “Multitechnology reader growth will remain strong through 2013 as organizations continue to future-proof their access control systems. Growth for multitechnology readers will be fastest within larger commercial installations with several hundred employees. The financial implications of transitioning employees to a new credential are significantly higher than the costs associated with replacing existing readers to multi-technology. For smaller organizations with fewer employees, this trend is not as relevant and there is a preference to replace credentials and readers at the same time.”
Kozak said, “The transition from proximity to smart card technology is an ongoing process. While new installations are increasingly requiring smart card technology, the large installed base of proximity readers suggests it will take some time before smart card readers replace proximity readers. As a result, the market is forecast to see a continued trend towards multitechnology readers as this transition continues.