Global Access Control Market size was valued at US$ 8.14 Bn in 2019 and is expected to reach US$ 15.63 Bn by 2027 to exhibit a CAGR of 8.5 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global access control market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global access control market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Access control is a technology which is used in a security model to diminish the risk to the business or organization. There are two types of access control that is physical and logical. Physical access control bounds access to campuses, buildings, rooms, and physical IT resources. Access control systems accomplish identification authentication and authorization of users and entities by assessing required login credentials.
The increasing need for safety and security, technological advancements and deployment of wireless technology in security systems, adoption of IoT-based security systems with cloud computing platforms are the major factors which are driving the growth of the global access control market. Further high adoption of access control solutions owing to increasing crime rates globally is also driving the growth of this market. However high cost and observation of unreliability and less awareness among users about innovative security solutions are hampering the growth of the global Access control market.
But security anxieties related to illegal access and data breach in an access control environment are the challenges faced by the growth of this market. Also manufactures of the global access control market is expected to produce various opportunities for this market during the forecast period because of adoption of access control as a service, employment of mobile-based access control, and growing urbanization in developing countries.
Hardware card-based readers are expected to grow rapidly during the forecast period owing to the increasing use of this type of readers because of its advantages like reliability. Cards are used as credentials to validate user identity and determine access grant or rejection. Card-based readers are to be more reliable than biometric readers and electronic locks. The growing demand for smart and proximity cards to observe and record employee activities is one of the drivers for the progress of smart card readers. Also, the rising demand for smart and proximity cards to monitor and record employee activities are also boosting the growth of card-based readers in global access control market.
By the analysis of regional market analysis the Asia Pacific market is projected to dominate the global market during the forecast period owing to the rising industrialization, commercialization, and high demand for security systems. Also rising terror terrorizations and crime rates in Asia Pacific countries and low police officer to population ratio are anticipated to help the high demand for access control systems in the Asia Pacific. The increasing economy of China also makes an important requirement for security systems. Large population, increasing investments for digitalization, substantial R&D, and growing industrialization in APAC would drive the adoption of security systems.
Scope of the Global Access Control Market
Global Access Control Market, by Component
• Hardware Card-Based Readers
• Biometric Readers
• Electronic Locks
Global Access Control Market, by Service
• Access Control as a Service (ACaaS)
Global Access Control Market, by Vertical
• Military & Defense
• Manufacturing and Industrial
Global Access Control Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Access Control Market
• Assa Abloy AB
• Dormakaba Holding AG
• Allegion PLC
• Johnson Controls International PLC
• Honeywell Security Group
• Identiv, Inc.
• Nedap N.V.
• Suprema HQ Inc.
• Bosch Security Systems Inc.
• Gemlato N.V.
• Amag Technology, Inc.
• Axis Communications AB
• Gunnebo AB
• NEC Corporation
• Gallagher Group Limited
• Adman Technologies Pvt. Ltd
• Brivo, Inc.
• Salto Systems S.L.
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