Leveraging new technologies and business models will provide an opportunity for security dealers, installers and integrators who work in the security lock and door hardware space.
According to the IHS Markit Physical Security Equipment and Services report of September 2016, the global access control market is positioned to grow from $3.69 billion in 2015 to $5.16 billion in 2020. During this growth period, there will be three key trends that will have a significant impact on the business of security dealers, installers and integrators — the continued development of IP-enabled equipment; mobility; and a greater focus on software-based revenue generation as part of Access Control as a Service (ACaaS).