Middle East and Africa forecast for strong growth opportunity in Access Control, with CAGR of 14.8%
May 15, 2014
The EMEA region continued to make strides toward recovery in 2013 and is expected to see moderate growth from 2014 through 2015 for traditional electronic access control. For traditional access control, IHS has estimated growth of about 3.1%in 2014. When including electronic locks (mechatronic, digital cylinder and electromechanical), IHS estimated a growth of about 7.4% in 2014. According to IHS’s 2014 report on access control, the Middle East and African regions are forecast to be worth about $180 million in 2014, which combine to have a CAGR of about 15% from 2013 through 2018.