Electromagnetic locks and electric strikes market to record strong growth by 2017
The electromagnetic locks and electric strikes market will grow at CAGRs of 6.9% and 7.8% respectively by 2017, significantly outperforming the mechanical locks’ segment, a new research report from IHS has revealed.
It’s already a well known fact that access control systems are becoming increasingly popular because they provide a higher level of security while offering integration opportunities with time management and building automation systems.
This trend is contributing directly to the market growth of electric strikes and electromagnetic locks, the report from IHS forecasting that, from 2012 to 2017, global revenues for electromagnetic locks and electric strikes will grow at compound annual growth rates (CAGRs) of 6.9% and 7.8% respectively, compared to just around 4.5% for mechanical locks in the same time frame.
In terms of electric lock uptake, electromagnetic locks and electric strikes are the most common electric locking devices used in accordance with access control systems. Traditionally, electromagnetic locks have been the standard solution; however mature markets such as the United States and Western Europe have started adopting electric strikes at a stronger pace. Electric strikes are assumed to be more secure, aesthetically-pleasing, and more energy efficient than electromagnetic locks and are projected to have stronger growth from 2012 to 2017 in every region.
On the other hand, IHS expects most applications still require a mechanical lock override in the case of a power failure or system error thus access control is only limiting the growth of mechanical solutions in the medium-term, not necessarily replacing them.
If you’d like to find out more about the range of solutions supplied by Access Control UK, both in terms of hardware (smart card readers, biometric readers, turnstiles, etc.) and software (access rights management software solutions, etc.), just contact us, we’ll be more than happy to answer any queries you might have.