The global access control market accounted for US$ 6.05 Bn in 2017 and is expected to grow at a CAGR of 13.2% during the forecast period 2018 – 2025, to account to US$ 16.66 Bn by 2025.
Growth in the recent years is primarily driven by the following major factors, such as increasing security concerns, deployment of IP based and wireless technologies, and technological advancements. Furthermore, the growth in commercial sector has propelled the market growth to a significant extent. North America is leading the access control throughout the forecast period. However, Asia Pacific is witnessing the highest CAGR.
Lucrative Regional Access Control Markets
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Market Insights
Rise in demand for interconnected systems is anticipated to bolster access control market growth
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.
Access control solutions are seamlessly integrated with video surveillance technology for comprehensive physical security. Larger facilities with multiple parking spaces, doors, entry/exit points, and loading docks benefit enormously through this integration.
Demand from residential sector is offering lucrative opportunity to the access control market
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.
Access control solutions are seamlessly integrated with video surveillance technology for comprehensive physical security. Larger facilities with multiple parking spaces, doors, entry/exit points, and loading docks benefit enormously through this integration.
Segment by Type Insights
The component segment of access control market is segmented into hardware, software, and services. Hardware segment dominated the market in 2017 and is expected to continue its dominance till 2025. Tamper-proof hardware with dual verification options to align with the efficient security needs are opportunistic for the growth of the market. Furthermore, the adoption of wireless capabilities, modular locking components and multi-reader technology specifically for the commercial applications are expected to proliferate the access control market growth.
Segment by Application Insights
Access control systems are used in different industries to restrict a person from unauthorized access to any location or device. The report addresses almost all the major application where access control systems are used for different applications. These applications includes BFSI, residential, commercial, healthcare, government & transport, and others. Here others includes educational, manufacturing, and industrial applications. Some of these industries require high level security and restriction such as healthcare, government offices and BFSI sector, therefore access control types may vary as per industry requirements. Some of the factors influencing in the selection of access control types are the nature of business, security procedures within the organization, and the number of users on the system.
MEA Access Control Market by End-user Get more information on this report :
Strategic Insights
Technological advancements was observed as the most adopted strategy in global access control market. Few of the recent market initiatives are listed below:
2018: NEC launched NeoFace Access Control, a new facial recognition product which is used in the existing entrance and exit gates to permit easy access to the authorized individuals.
2018: AMAG Technology stated about new addition in its portfolio, namely, RISK360. The solution is an incident and case management system which explores and analyze the incidents to assist organizations operate in an efficient manner and mitigating the risk.
2018: Johnson Controls showcased its updated P2000 security management system at the 61st annual ASIS International Summit and Exhibits Anaheim held in Cali. The P2000 systems is in-built with more options to protect people, assets, and property. The system includes web-based alarm management, and geo-location mapping with advance video technology. Also, the system is compatible with Google Android devices.
GLOBAL ACCESS CONTROL – MARKET SEGMENTATION
Global Access Control Market – By Deployment Model
Global Access Control Market – By Component
Global Access Control Market – By End-user
Global Access Control Market – By Geography
Access Control Market - Company Profiles