According to the new research report published by The Insight Partners, titled “Automated Barriers and Bollards Market - Global Analysis and Forecast to 2025”, the global conditional access system market is expected to reach US$ 1.80 billion in 2025, registering a CAGR of 4.1% during the forecast period 2016 to 2025.
In 2016, Europe accounted for the largest revenue share of little less than two-fifth of the total market share, closely followed by North America.
This research report provides insights on the Global Automated Barriers and Bollards Market. The boom barriers are the most commonly used barrier type deployed in residential, commercial and industrial sectors with limited or narrow space and where control on speed of the gate is one of the critical factor. Barrier gate arms comes with different lengths and with varying lift speeds as per end-use vertical need.
Government of various countries in the world are adopting the momentum of Smart Cities thereby, investing in the development of modernized infrastructure in the countries. This would further increase the growth of construction and infrastructure in the region. For instance, the Government of India has allocated US$ 7.34 Bn to build 100 smart cities across India. Also, during 2017, over 500 Chinese cities are underway or are anticipated to build their "smart-city" transformations. Along with these countries, Malaysia, Indonesia, Korea, Philippines and others are developing smart cities. Also, under the smart city project, Barcelona and San Francisco have installed smart parking technology. Urban challenges including, traffic congestion, safety and security, and aging infrastructure has resulted in increased infrastructure development thereby, the installation of automated boom barriers and bollards in such projects is expected to increase.
The APAC market is segmented into countries: Australia, China, India, Japan, and rest of APAC. The region comprises of several developing economies such as China and India, as well as Southeast Asian countries. Large population in the Asia Pacific region has led to increased demand for residential as well as commercial construction in the region. The APAC region comprises of several developing economies such as China and India as well as many South East Asian countries, strongly demanding for infrastructure projects. The rising population of these countries is the main driver for growth of construction sector in the region. Furthermore, the governments of various economies are taking several measures in order to attract private investments in the construction and infrastructure development.
Key findings of the study:
- From a growth perspective the Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 6.7% during the forecast period
- Based on product type, the RFID tag reader segment is projected to witness significant lucrative profitable opportunities with projected CAGR growth rate of 4.6%
- Based on end-use vertical, the commercial segment is projected to grow with a CAGR of 4.2%
The global market for automated boom barrier has been segmented on the basis of product type into five major segment including push button, RFID tags reader, remote controlled, loop detector and others. Each product types have different application areas and is designed to fulfil varied end-users demand. Key end-use verticals of this market are, commercial, residential and industrial. Commercial sector including offices, IT Park, malls, paid parking lots and is the largest end-user segment of barrier and bollards. However, residential segment will have highest growth rate during the forecast period. Commercial sector is the major contributor in terms of revenue in this market attributed to the development of intelligent transportation system and smart parking in the area of traffic management, highway toll collection, borders and custom security premises, where high security is required.
The initial step in value chain analysis includes the R&D i.e. product development, which is one the most significant process for any manufacturer. During this process, new technologies and product innovation is carried out and feasibility of the technologies are tested. Second step includes integration of different components required to manufacture/assemble automated boom barriers and bollards. These components include gear box, balancing spring, control panel, motor, arm, and drives among others. After the assembly of these components, the end-use products are produced i.e. boom barriers and bollards. The boom barriers are further categorized depending on the mechanism of operation. These products are then delivered either directly to end-users or through system integrators. The end-user can choose appropriate boom barrier as per the requirements, which is working, cost, security, accuracy etc. Further, system integrators are required in case of specific requirement of the end-user for example, integration with ANPR.
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