Agreed. The amount of investment needed to uproot Mercury would be substantial.
I often had conversations with video guys who never sold EAC, they always struggled with understanding how entrenched the EAC market is. As you stated, there has not been any major, disruptive technology that has forced EAC manufactures to re-consider their strategies. Additionally, I agree with that the telecom/IT houses adopting video as an add-on sale, are staying away from EAC. In other words, it is a legacy technology, legacy market and has been very slow to adapt.
It seems to me, in my opinion, that the real next step would be passive credentials. Phone and/or biometrics would be the best entry into passive credentials, however it seems that the technology is still lacking, and for those technologies that could be viable, the cost is very prohibitive.
I would also add that the limitations on the Mercury hardware itself, has forced most EAC manufactures to stay 'close to home'. I would argue that this is a major reason why EAC has not grown, with respect to technology. Everyone has to play to the same, low common denominator, which in this case is Mercury.
While some have ventured out, Amag, Software House, Infinias (I used to sell it and still think they have some cool technology) they each still play to the bar that Mercury has set.
Again, to your point... what is the true ROI for a disruptive technology? Is it possible to disrupt the EAC industry?
I believe there is an ROI, but is a long term play. Most VC/PE firms would not invest in a long term play, so investment capital is very limited. I do think that the EAC market is due for a disruption, no I do not think cloud EAC is the answer, but we are a few years off. The old guard needs to move on and a new, nimble and innovative player needs to position to capture the new leaders in the EAC market. However, a valid argument could be made that now is the time for a disruptive argument.
Surprised there has not been any bright, up and coming companies that have captured attention.
I like the bluB0X idea, feel their marketing is over-promising, but again they are doing what everyone else is.