The increasing threat to data security from hackers, and consumer concern for privacy has led wide adoption of access control services by organization. In order to safe data from hackers, companies are taking precautions and adopting critical biometric solutions from experts such as Gemalto, Allegion, Honeywell Security, and NEC Corporation. With passage of time, the Access Control technique is also improved and at present available in various forms. Biometric readers, card based readers, and electronic locks are some of the emerging Access Control hardware.
The major growth driver of Access Control Market includes increasing adoption of card based readers to authenticate individual identity, and increasing concern of protecting infrastructure and assets among verticals such as commercial, telecommunication and banking sector. However, less awareness of advanced security solution is one of the major factor hindering the growth of Access Control Market
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Major Key Players
- Gemalto (Netherlands),
- Allegion (Ireland),
- Assa Abloy (Sweden),
- Gunnebo Security Group (Sweden),
- Tyco International Plc (Ireland),
- Crossmatch Technologies, Inc.(U.S.),
- NEC Corporation (Japan),
- Oberthur Technologies (France),
- Allegion, Plc (Ireland),
- Honeywell Security Group (U.S.)
According to MRFR, World Access Control Market is expected to reach USD 12.53 billion in 2023 with a CAGR of 9% during the forecast period 2018-2023.
Access Control market appears to be competitive in the coming years owning to the presence of numerous large players active in regional market. Gemalto, Allegion, Assa Abloy, Gunnebo Security Group and Tyco International Plc. are some of the companies leading the Access Control market globally. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
The research report distributed by Market Research Future on ‘Access Control Market’ provides an in-depth evaluation of all the segments of this market. Here are some of the major aspects of the segmental analysis.
By system type – Intruder alarm systems, authentication systems (biometric & card based authentication) and perimeter security systems (Free standing, buried cable). Out of the mentioned segments, card based authentication systems govern the market and account for the largest number of shares. The card is employed as a credential in an access control system to verify a person’s position in an organization. This is a fact that gives card based authentication an upper hand over the other segments.
By applications – Commerical, BFSI, Military & defense, residential, government, industrial and telecommunication. The commercial segment is anticipated to develop at the highest CAGR during the forecast period. It is because the commercial sector observes an immense demand to protect their assets from various threats like accidents, theft and vandalism.
The access control solution has witnessed a huge adoption over the past decade in various industries, enterprises, and residential properties across North America, Europe and the rest of the world. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period. The growth of Asia-Pacific region is due to wider acceptance of foreign companies setting up their manufacturing plants. With this, various regional as well as local IT enterprises, and startups have been established which is expected to create a need for more security of their assets. In countries like China, Japan, and India, there is a revolution in the residential properties. The properties are now equipped with advanced biometric-enabled access control which reduces the risk of burglary and theft. The major factor behind growth in residential access control is urbanization.
On the other hand, countries like the US, Canada, Germany, and the UK already have established markets. These countries along with a few other countries in Europe were early adopters of access control solution in office and residential premises. North America was the dominating region in 2017 owing to the planned residential areas, office spaces, and commercial and government properties. However, recent immigration in the US has led many citizens with a risk of theft or perimeter intrusion. This has alternatively led to the growth of access control market in the US.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.3 Research Objectives
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
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