IP-enabled access control market grows in Asia

The Asia-Pacific region has experienced a rise in demand for access control and IP-based equipment in 2015, and this trend is expected to continue in the coming years, with total earnings for access control panels predicted to reach US$499.3 million in 2020, based on a recent report released by IHS Markit.

According to Alexander Derricott, Analyst for Access Control & Fire at IHS, the growing shift to IP-based products is largely due to an increase in ease and decrease in cost of such installations. As such, IP-enabled panels are set to account for the majority of the market – 58 percent – in 2020, growing at 11.8 percent CAGR from 2015 to 2020.

The report cited Singapore as the fastest adopter of IP-based access control systems in the region. Malaysia and Thailand were also listed as countries that have experienced significant uptake of this technology.

Several factors limit the growth of IP-based panels and other equipment in the Asia Pacific, including poor internet infrastructure and the recent slowdown in the Chinese economy.