Rise in Security Concerns is Influencing the Growth of Access Control Enabling Overall Growth of Access Control Market at a CAGR Of 13.2%
Latest market study on Access Control Market to 2025 - Global Analysis and Forecasts Type (Hardware, Software, and Services) and Application (BFSI, Residential, Commercial, Healthcare, Government & Transport, and Others) - Global Analysis and Forecast”, the access control market is estimated to reach US$ 16.66 Bn by 2025. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Access control is crucial for businesses to authenticate the entry and exit of people. It is also important in the school premises in order to avoid child predator or kidnapping issues. There is an increasing demand for safety and security for access control and for restricting entry for specific areas. Further, the reputational issues and legal consequences resulting from the failure of security protection has steered the need for access control. The access control systems have helped address these issues by assisting the business owners to find an appropriate balance between risk, security, and cost. Further, the facility managers and building managers seek security solutions that are both cost-effective and convenient to use. These systems aid in improved security as well as cost reduction.
Biometric device integration has become a standard requirement for secure access control, thereby delivering greater security for non-transferable devices. Furthermore, the multi-factor authentication technology is increasingly gaining importance and has mainly targeted employee access in critical areas.
The increasing infrastructural spending in the emerging economies of Middle East and African regions is expected to create new growth avenues in the access control market. Further, the developments in IP-enabled devices and wireless technologies is opportunistic for the market growth. Wireless technologies are deployed with better flexibility for cost and time efficiency. The access controls using wireless technology are a great fit for both small as well as large businesses.
The market for access control globally has been segmented on the basis of type into three major segments including hardware, software, and services. The companies operating in the global access control market design and innovate robust products and solutions depending upon the requirements of the customers or clients. The global access control market is further bifurcated on basis of application as BFSI, residential, commercial, healthcare, government & transport, and others. The global market for access control is categorized on basis of five strategic regions namely; North America, Europe, Asia Pacific, Middle East and Africa, and South America.
The global access control market is experiencing an intense growth with regards to the investments, new product developments, and deployment for future in the current scenario and is anticipated to rise in the coming years. The market for access control consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced product to the customers.
The key industry players operating in access control market globally include Gemalto N.V., Honeywell Security Group, Siemens Building Technologies, ASSA ABLOY AB, NEC Corporation, Johnson Controls International PLC, AMAG Technology, Inc., Schneider Electric SE, Gallagher Group Ltd., and Identiv, Inc. among others. Several other participants are also operational in global access control market that offers its customers with robust products and solutions, thereby catalyzing the demand of access control market.
The report segments the global access control market as follows:
Global Access Control Market - By Type
Electronic Locks Market
Global Access Control Market - By Application
Government & Transport
Global Access Control Market - By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East and Africa (MEA)
South America (SAM)
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