Access control, biometric market riding high
CLEVELAND--Technological advances, falling price and the ongoing fear about terrorism will play a role in the demand for biometric and access control products in the United States, with expectations this segment will reach $7.2 billion in 2007.
According to The Freedonia Group and its report, Biometrics and Other Electronic Access Control Systems, the market will increase at a rate of 10 percent each year over the next four years.
The largest gain will occur in the biometric market, with an annual increase to exceed 30 percent. The report also anticipates the smart card market to log double-digit gains.
In terms of vertical markets, The Freedonia Group expects airports will increase spending on access control products, now that many have completed their investment in explosive detection devices.