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. The major factors contributing towards the market growth include high adoption of access control solutions, higher technological advancements and deployment of wireless technology in security systems, and wider adoption of IoT based security systems with cloud computing platforms. Due to the growing security concerns, there is a higher adoption of access control solutions witnessed by major enterprises and residents across the globe.
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 factors 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.
SMARTair a renowned market player recently provided services to a brand new superstore Witzand. It installed a highly flexible access control system for this superstore. This development has caught the attention of the industry experts. In the forthcoming years, a merger is expected to take place between the two giants.
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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LIST OF TABLES
Table 1 Access Control Market, by Region, 2018–2023
Table 2 North America: Access Control Market, by Country, 2018–2023
Table 3 Europe: Access Control Market, by Country, 2018–2023
Table 4 Asia-Pacific: Access Control Market, by Country, 2018–2023
Table 5 Middle East & Africa: Access Control Market, by Country, 2018–2023
Table 6 Latin America: Access Control Market, by Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Access Control Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Access Control Market
FIGURE 4 Value Chain of Global Access Control Market
FIGURE 5 Share of Global Access Control Market in 2017, by Country (in %)
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