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Latest report shows size of Access Control Market and the rise of Residential Systems

Posted by: In: Blog 09 Oct 2018 Comments: 0

Global Access Control Market was valued at USD 6.8 billion in 2017, and is expected to reach a value of USD 11.1 billion by 2023 at a CAGR of 8.45%, over the forecast period (2018-2023).

According to the FBI’s Internet Crime Complaint Center (IC3), the Business Email Compromise (BEC) scam saw an increase of 1,300% in identified exposed losses, totaling over USD 3 billion, since January 2015. Such losses could be better controlled through the use of access control software. According to the Association of Fraud Examiners in 2015 the amount of internal theft accounts for about 5% of annual revenue for companies.

The implementation of access control systems contributes to the growth in the safety and security of office surroundings. Such identity theft of data has been increasing owing to which governments have been adopting the use of access control systems. As the cyber attacks, frauds and government authentication mandates continue to grow in sophistication and scope, the need to strengthen security while reducing costs is paramount across various industry verticals.

Read full report from Research and Markets at Business Wire

The implementation of access control systems contributes to the growth in the safety and security of office surroundings. Such identity theft of data has been increasing owing to which governments have been adopting the use of access control systems.

As the cyber-attacks, frauds and government authentication mandates continue to grow in sophistication and scope, the need to strengthen security while reducing costs is paramount across various industry verticals.

To lear more about how SCS can help with Access Control please contact us.

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