[Research Report] The 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.
Analyst Perspective:
The access control market has witnessed significant growth in recent years, driven by the increasing need for better access control systems, growing concerns about safety and security, and the rise in smart home projects. The increasing popularity of wireless access controls and cloud-based access control solutions further drives the market growth. In addition, prominent trends in the market include the expanding use of smartphones for access controls, the increasing acceptance of access control as a service (ACaaS), and the growing integration of contactless biometric access control devices. However, the market's expansion may be constrained by the high initial cost of implementing access control systems. Concerns about safety and security and developing nations' lack of knowledge about modern security solutions are anticipated to impede the access control market's expansion.
Market Overview:
Access control is a data security process that enables organizations to manage authorization to access corporate resources and data. Implementing access control is a crucial component of web application security, which guarantees that only the appropriate users have the appropriate level of access to the appropriate resources. Access control is essential for assisting enterprises in preventing data breaches and thwarting attack methods like phishing, buffer overflow, KRACK, and on-path attacks. Access control is managed through several components, such as authentication, authorization, access, management, and audit. The first step in verifying a user's identity is authentication. However, authentication alone is insufficient to safeguard companies' data. The process of authenticating gains additional security through authorization. A user's identity will be confirmed after the authorization and authentication processes are completed. This grants users access to the resource they are trying to log into. Organizations can manage their access control system by adding and removing user and system permission and authentication. Through access control audits, organizations can enforce the least privilege principle, enabling them to collect information about user behavior and utilize it to investigate access violations.
Using VPNs is one of the most popular ways to create access controls. This makes it possible for users to safely access resources from a distance, which is essential for remote employees. Businesses can utilize virtual private networks, or VPNs, to offer secure access to their networks when employees are based in various locations worldwide. Although this is the best option in terms of security, it may cause latency and other performance problems. Identity repositories, monitoring and reporting software, password management tools, provisioning tools, and security policy enforcement services are some more access control techniques.
Organizations can protect their users and data by implementing a variety of access control types such as Attribute-based Access Control (ABAC), Discretionary Access Control (DAC), Mandatory Access Control (MAC), Role-Based Access Control (RBAC), Break-glass Access Control, Rule-based Access Control.
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Access Control Market: Strategic Insights
Market Size Value in US$ 6.05 Billion in 2017 Market Size Value by US$ 16.66 Billion by 2025 Growth rate CAGR of 13.2% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Access Control Market: Strategic Insights
| Market Size Value in | US$ 6.05 Billion in 2017 |
| Market Size Value by | US$ 16.66 Billion by 2025 |
| Growth rate | CAGR of 13.2% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Market Driver:
Increasing Number of Cyberattacks Across Enterprises to Drive Growth of the Access Control Market
Cyber-attacks have been rated the fifth top-rated risk in 2020 and are increasing day by day with technology. Computer malware, data breaches, and denial of service (DoS) are some of the examples of cyber risks. Businesses are under continuous threat of cybercrimes. Cyber-attacks have grown more widespread in recent years. During the pandemic, cybercriminals took advantage of misaligned networks as businesses moved towards remote working environments. For instance, According to OneLogin, cybercrime cost the world over US$1 trillion, wherein 37% of organizations were affected by ransomware, and 61% were affected by malware attacks in 2020. Between 2019 and 2020, cyber-attacks in the US have increased by 139%. In fact, there were a staggering 145.2 million cases in Q3 2020 alone. Malware attacks increased by 358% in 2020 when compared to 2019. Similarly, according to the Clusit Report, cyber-attacks across the globe have increased by 10% in 2021 compared to the previous year. Cyber-attacks increased by 125% globally in 2021 and increasing volumes of cyber-attacks continued to threaten businesses and individuals in 2022. For instance, according to AAG, the UK had the highest number of cybercrime victims per million internet users at 4783 in 2022, an increase of 40% over 2020. The average cost of a cyber breach was US$4.35 million in 2022, and it is predicted that this number is expected to rise to US$10.5 trillion by 2025.
Nowadays, most employees access data and apps over a public internet connection. Every access point presents a fresh opportunity for attack. Organizations are using more Internet of Things (IoT) devices, such as printers, sensors, and smart security measures, but these devices also need to connect to networks, apps, and data. This is among the factors contributing to the rise in credential-based assaults by cybercriminals. The number of attack vectors rises each time a login ID and password are assigned to a human or digital identity. Cyber threats are a huge matter of concern in today's digital environment. They have serious consequences for individuals, corporations, and governments. Prevention from cyber-attacks is essential. The rise in cyber-attacks has increased the importance of cybersecurity to safeguard critical infrastructures and ensure the safety of individuals and organizations. Access control is companies' most important solution to safeguard data and resources. Establishing, enforcing, and maintaining strict access controls creates a robust security posture. Thus, the increasing number of cyberattacks across enterprises drives the growth of the access control market.
Report Segmentation and Scope:
The "Access Control Market" is segmented based on offering, type, end user, and geography. Based on the offering, the market is segmented into hardware, software, and services. Based on type, the market is segmented into Discretionary Access Control (DAC), Attribute-based Access Control (ABAC), Mandatory Access Control (MAC), Role-Based Access Control (RBAC), and others. Based on end users, the market is segmented into residential, commercial, industrial, and homeland security. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Segmental Analysis:
Based on the offering, the access control market is segmented into hardware, software, and services. The hardware segment in the market is expected to grow with the highest share. An access control system is composed of multiple hardware components. Three types of access control hardware are security hardware, internal hardware, and tenant credentials. Access control systems used to be made exclusively of hardware in the past. Traditional locks and keys are among the most common examples of an entirely hardware-based access control system. Nevertheless, modern access control systems use software to use the power of the internet, cloud computing, and other technical advancements.
Regional Analysis:
North America holds one of the largest global access control market shares. High technology adoption trends in various industries in the North American region have fueled North America's market growth. Furthermore, the rise of cyberattacks and increased government backing are some factors driving North America's access control market. In addition, the US has a large number of access control market players who have been increasingly focusing on developing innovative solutions. Some of the key players in the market are Honeywell International, Identiv, Bosch Security Systems, and others. These market players have been witnessing constant demand from consumers. All these factors contribute to North America's access control market growth.
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Key Player Analysis:
The access control market analysis consists of players such as Honeywell International Inc.; dormakaba Group; ASSA ABLOY AB; Johnson Controls.; Allegion plc; Nedap N.V.; Identiv, Inc.; SUPREMA; Thales Group; Bosch Sicherheitssysteme GmbH, among others, are the key access control market players profiled in the report.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the access control market. A few recent keyaccess control market developments are listed below:
- In November 2023, Redox announced the launch of role-based access control (RBAC). With role-based access control, users will have more control over user access in Redox organizations to mitigate the risk of leaking sensitive data, reduce the chances of breaking changes, and enforce observance.
- In July 2023, Anviz announced the launch of its next-generation access control solutions powered by Open Supervised Device Protocol (OSDP). The two new offerings – the SAC921 single-door access controller and C2KA-OSDP RFID keypad reader, are future-proof systems packed with state-of-the-art technology and smart features. Both solutions seek to ensure customer safety and peace of mind, providing a comprehensive security solution for today's modern world.
- In November 2022, Zwipe announced the launch of a two-factor authentication solution for access control based on its biometric authentication technology platform. The full capability of Zwipe's biometric card operates with existing access control systems, thereby removing the need to make time-consuming and costly adjustments to existing access control infrastructure.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION 13
1.1 SCOPE OF THE STUDY 13
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 13
2. KEY TAKEAWAYS 14
3. ACCESS CONTROL MARKET LANDSCAPE 16
3.1 MARKET OVERVIEW 16
3.2 MARKET SEGMENTATION 17
3.2.1 Global Access control Market – By Type 19
3.2.2 Global Access control Market – By Application 19
3.2.3 Global Access control Market – By Geography 19
3.3 PEST ANALYSIS 21
3.3.1 North America – Pest Analysis 21
3.3.2 Europe – Pest Analysis 23
3.3.3 Asia Pacific – Pest Analysis 25
3.3.4 Middle East and Africa – Pest Analysis 27
3.3.5 South America – Pest Analysis 29
4. ACCESS CONTROL MARKET – KEY INDUSTRY DYNAMICS 31
4.1 KEY MARKET DRIVERS 31
4.1.1 Increasing security concerns 31
4.1.2 Increase in need for holistic security at hardware level 31
4.1.3 Rise in demand for interconnected systems 32
4.2 KEY MARKET RESTRAINTS 32
4.2.1 High cost of ownership 32
4.3 KEY MARKET OPPORTUNITIES 32
4.3.1 Increasing demand from emerging economies 32
4.3.2 Rise in demand from the residential sector 33
4.4 FUTURE TREND 33
4.4.1 Proliferation of IoT and connected devices 33
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINT 34
5. ACCESS CONTROL – GLOBAL MARKET ANALYSIS 35
5.1 GLOBAL ACCESS CONTROL MARKET OVERVIEW 35
5.2 GLOBAL ACCESS CONTROL MARKET FORECAST AND ANALYSIS 36
6. ACCESS CONTROL MARKET REVENUE AND FORECAST TO 2025 – TYPE 37
6.1 OVERVIEW 37
6.2 GLOBAL ACCESS CONTROL MARKET BREAKDOWN, BY TYPE, 2017 & 2025 37
6.3 HARDWARE MARKET 38
6.3.1 Overview 38
6.3.2 Hardware Market Forecast and Analysis 38
6.3.3 Global Hardware Market Breakdown, By Sub-Type, 2017 & 2025 39
6.3.3.1 Readers 40
6.3.3.2 Electronic Locks Hardware 41
6.3.3.3 Others 41
6.4 SOFTWARE MARKET 42
6.4.1 Overview 42
6.4.2 Software Market Forecast and Analysis 42
6.5 SERVICES MARKET 44
6.5.1 Overview 44
6.5.2 Services Market Forecast and Analysis 44
7. ACCESS CONTROL MARKET REVENUE AND FORECAST TO 2025 – APPLICATION 45
7.1 OVERVIEW 45
7.2 GLOBAL ACCESS CONTROL MARKET BREAKDOWN, BY APPLICATION, 2017 & 2025 45
7.3 BFSI MARKET 46
7.3.1 Overview 46
7.3.2 BFSI Market Forecast and Analysis 46
7.4 RESIDENTIAL MARKET 47
7.4.1 Overview 47
7.4.2 Residential Market Forecast and Analysis 47
7.5 COMMERCIAL MARKET 48
7.5.1 Overview 48
7.5.2 Commercial Market Forecast and Analysis 48
7.6 HEALTHCARE MARKET 49
7.6.1 Overview 49
7.6.2 Healthcare Market Forecast and Analysis 49
7.7 GOVERNMENT & TRANSPORTATION MARKET 50
7.7.1 Overview 50
7.7.2 Government & Transportation Market Forecast and Analysis 50
7.8 OTHERS (EDUCATION, MANUFACTURING & INDUSTRIAL) 51
7.8.1 Overview 51
7.8.2 Others Market Forecast and Analysis 51
8. ACCESS CONTROL MARKET – GEOGRAPHICAL ANALYSIS 52
8.1 OVERVIEW 52
8.2 NORTH AMERICA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 53
8.2.1 Overview 53
8.2.2 North America Access control Market Breakdown by Key Countries 54
8.2.2.1 U.S. Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 54
8.2.2.2 Canada Access control Market Revenue and Forecast to 2025 (US$ Mn) 55
8.2.2.3 Mexico Access control Market Revenue and Forecasts to 2025 (US$ Mn) 56
8.2.3 North America Access control Market Breakdown by Type 56
8.2.3.1 North America Access control Market Breakdown by Hardware 56
8.2.4 North America Access Control Market Breakdown by Application 57
8.3 EUROPE ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 58
8.3.1 Overview 58
8.3.2 Europe Access Control Market Breakdown by Key Countries 59
8.3.2.1 France Access Control System Market Revenue and Forecasts to 2025 (US$ Mn) 59
8.3.2.2 Germany Access control Market Revenue and Forecast to 2025 (US$ Mn) 60
8.3.2.3 Italy Access Control System Market Revenue and Forecasts to 2025 (US$ Mn) 61
8.3.2.4 U.K. Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 62
8.3.2.5 Spain Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 63
8.3.3 Europe Access control Market Breakdown by Type 63
8.3.3.1 Europe Access control Market Breakdown by Hardware 64
8.3.4 Europe Access control Market Breakdown by Application 64
8.4 APAC ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 65
8.4.1 Overview 65
8.4.2 APAC Access Control Market Breakdown by Key Countries 66
8.4.2.1 Australia Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 66
8.4.2.2 China Access Control Market Revenue and Forecast to 2025 (US$ Mn) 67
8.4.2.3 India Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 68
8.4.2.4 Japan Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 69
8.4.2.5 Rest of APAC Access Control Market Revenue and Forecast to 2025 (US$ Mn) 70
8.4.3 APAC Access Control Market Breakdown by Type 70
8.4.3.1 APAC Access Control Market Breakdown by Hardware 71
8.4.4 APAC Access Control Market Breakdown by Application 71
8.5 MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 72
8.5.1 Overview 72
8.5.2 MEA Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 72
8.5.3 MEA Access Control Market Breakdown by Key Regions 73
8.5.3.1 South Africa Access Control Market Revenue and Forecast to 2025 (US$ Mn) 73
8.5.3.2 Saudi Arabia Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 74
8.5.3.3 UAE Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 75
8.5.3.4 Rest of MEA Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 76
8.5.4 MEA Access Control Market Breakdown by Type 76
8.5.4.1 MEA Access Control Market Breakdown by Hardware 77
8.5.5 MEA Access Control Market Breakdown by Application 77
8.6 SAM ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 78
8.6.1 Overview 78
8.6.2 SAM Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 78
8.6.3 SAM Access Control Market Breakdown by Key Countries 79
8.6.3.1 Brazil Access Control Market Revenue and Forecast to 2025 (US$ Mn) 79
8.6.3.2 Argentina Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 80
8.6.3.3 Rest of SAM Access Control Market Revenue and Forecasts to 2025 (US$ Mn) 81
8.6.4 SAM Access Control Market Breakdown by Type 81
8.6.4.1 SAM Access Control Market Breakdown by Hardware 82
8.6.5 SAM Access Control Market Breakdown by Application 82
9. INDUSTRY LANDSCAPE 83
9.1 MARKET INITIATIVE 83
9.2 NEW DEVELOPMENT 85
10. COMPETITIVE LANDSCAPE 86
10.1 COMPETITIVE PRODUCT MAPPING 86
10.2 MARKET POSITIONING – GLOBAL TOP 5 PLAYERS RANKING 87
11. GLOBAL ACCESS CONTROL – COMPANY PROFILES 88
11.1 GEMALTO N.V. 88
11.1.1 Key Facts 88
11.1.2 Business Description 88
11.1.3 Financial Overview 89
11.1.4 SWOT Analysis 89
11.1.5 Key Developments 91
11.2 HONEYWELL INTERNATIONAL, INC. 92
11.2.1 Key Facts 92
11.2.2 Business Description 92
11.2.3 Financial Overview 93
11.2.4 SWOT Analysis 93
11.2.5 Key Developments 95
11.3 SIEMENS AG 96
11.3.1 Key Facts 96
11.3.2 Business Description 96
11.3.3 Financial Overview 97
11.3.4 SWOT Analysis 97
11.3.5 Key Developments 99
11.4 ASSA ABLOY AB 100
11.4.1 Key Facts 100
11.4.2 Business Description 100
11.4.3 Financial Overview 101
11.4.4 SWOT Analysis 101
11.4.5 Key Developments 103
11.5 NEC CORPORATION 104
11.5.1 Key Facts 104
11.5.2 Business Description 104
11.5.3 Financial Overview 105
11.5.4 SWOT Analysis 105
11.5.5 Key Developments 107
11.6 JOHNSON CONTROLS INTERNATIONAL PLC 108
11.6.1 Key Facts 108
11.6.2 Business Description 108
11.6.3 Financial Overview 109
11.6.4 SWOT Analysis 109
11.6.5 Key Developments 111
11.7 AMAG TECHNOLGY INC. 112
11.7.1 Key Facts 112
11.7.2 Business Description 112
11.7.3 Financial Overview 112
11.7.4 SWOT Analysis 113
11.7.5 Key Developments 114
11.8 SCHNEIDER ELECTRIC SE 115
11.8.1 Key Facts 115
11.8.2 Business Description 115
11.8.3 Financial Overview 116
11.8.4 SWOT Analysis 116
11.9 GALLAGHER GROUP LIMITED 119
11.9.1 Key Facts 119
11.9.2 Business Description 119
11.9.3 Financial Overview 119
11.9.4 SWOT Analysis 120
11.9.5 Key Developments 121
11.10 IDENTIV, INC. 122
11.10.1 Key Facts 122
11.10.2 Business Description 122
11.10.3 Financial Overview 123
11.10.4 SWOT Analysis 123
11.10.5 Key Developments 125
12. APPENDIX 126
12.1 ABOUT THE INSIGHT PARTNERS 126
12.2 GLOSSARY OF TERMS 126
12.3 METHODOLOGY 127
12.3.1 Coverage 127
12.3.2 Secondary Research 127
12.3.3 Primary Research 128
LIST OF TABLES
TABLE 1. GLOBAL ACCESS CONTROL SYSTEM MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 36
TABLE 2. NORTH AMERICA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY TYPE (US$ MN) 55
TABLE 3. NORTH AMERICA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY HARDWARE (US$ MN) 56
TABLE 4. NORTH AMERICA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 56
TABLE 5. EUROPE ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY TYPE (US$ MN) 62
TABLE 6. EUROPE ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY HARDWARE (US$ MN) 63
TABLE 7. EUROPE ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 63
TABLE 8. APAC ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY TYPE (US$ MN) 69
TABLE 9. APAC ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY HARDWARE (US$ MN) 70
TABLE 10. APAC ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 70
TABLE 11. MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY TYPE (US$ MN) 75
TABLE 12. MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY HARDWARE (US$ MN) 76
TABLE 13. MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 76
TABLE 14. MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY TYPE (US$ MN) 80
TABLE 15. MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY TYPE (US$ MN) 81
TABLE 16. SAM ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 – BY APPLICATION (US$ MN) 81
TABLE 17. GLOSSARY OF TERM: ACCESS CONTROL MARKET 125
LIST OF FIGURES
FIGURE 1. U.S. ACCESS CONTROL MARKET, (US$ MN), 2017 & 2025 14
FIGURE 2. MEA ACCESS CONTROL MARKET, (US$ MN), 2017 & 2025 15
FIGURE 3. ACCESS CONTROL MARKET SEGMENTATION 17
FIGURE 4. ACCESS CONTROL MARKET SEGMENTATION - GEOGRAPHIC 18
FIGURE 5. NORTH AMERICA- PEST ANALYSIS 21
FIGURE 6. EUROPE- PEST ANALYSIS 23
FIGURE 7. ASIA PACIFIC- PEST ANALYSIS 25
FIGURE 8. MEA- PEST ANALYSIS 27
FIGURE 9. SOUTH AMERICA- PEST ANALYSIS 29
FIGURE 10. ACCESS CONTROL MARKET IMPACT ANALYSIS OF DRIVERS AND RESTRAINT 34
FIGURE 11. GLOBAL ACCESS CONTROL MARKET 35
FIGURE 12. GLOBAL ACCESS CONTROL MARKET FORECAST AND ANALYSIS 36
FIGURE 13. GLOBAL ACCESS CONTROL MARKET BREAKDOWN, BY TYPE, 2017 & 2025 (%) 37
FIGURE 14. GLOBAL HARDWARE MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 38
FIGURE 15. GLOBAL ACCESS CONTROL MARKET BREAKDOWN, BY TYPE, 2017 & 2025 (%) 39
FIGURE 16. GLOBAL READERS MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 40
FIGURE 17. GLOBAL ELECTRONIC LOCKS HARDWARE MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 41
FIGURE 18. GLOBAL OTHERS MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 41
FIGURE 19. GLOBAL SOFTWARE MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 42
FIGURE 20. GLOBAL SERVICES MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 43
FIGURE 21. GLOBAL ACCESS CONTROL MARKET BREAKDOWN, BY APPLICATION, 2017 & 2025 (%) 44
FIGURE 22. GLOBAL BFSI MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 45
FIGURE 23. GLOBAL RESIDENTIAL MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 46
FIGURE 24. GLOBAL COMMERCIAL MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 47
FIGURE 25. GLOBAL HEALTHCARE MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 48
FIGURE 26. GLOBAL GOVERNMENT & TRANSPORTATION MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 49
FIGURE 27. OTHERS MARKET REVENUE AND FORECAST TO 2025 (US$ MN) 50
FIGURE 28. ACCESS CONTROL MARKET, GLOBAL BREAKDOWN BY REGIONS, 2017 & 2025 (%) 51
FIGURE 29. NORTH AMERICA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 52
FIGURE 30. NORTH AMERICA ACCESS CONTROL MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 53
FIGURE 31. U.S. ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 53
FIGURE 32. CANADA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 54
FIGURE 33. MEXICO ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 55
FIGURE 34. EUROPE ACCESS CONTROL SYSTEM MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 57
FIGURE 35. EUROPE ACCESS CONTROL SYSTEM MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 58
FIGURE 36. FRANCE ACCESS CONTROL SYSTEM MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 58
FIGURE 37. GERMANY ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 59
FIGURE 38. ITALY ACCESS CONTROL SYSTEM MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 60
FIGURE 39. U.K. ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 61
FIGURE 40. SPAIN ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 62
FIGURE 41. APAC ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 64
FIGURE 42. APAC ACCESS CONTROL MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 65
FIGURE 43. AUSTRALIA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 65
FIGURE 44. CHINA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 66
FIGURE 45. INDIA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 67
FIGURE 46. JAPAN ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 68
FIGURE 47. REST OF APAC ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 69
FIGURE 48. MEA ACCESS CONTROL MARKET BREAKDOWN BY KEY REGIONS, 2017 & 2025(%) 72
FIGURE 49. SOUTH AFRICA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 72
FIGURE 50. SAUDI ARABIA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 73
FIGURE 51. UAE ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 74
FIGURE 52. REST OF MEA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 75
FIGURE 53. SAM ACCESS CONTROL MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 78
FIGURE 54. BRAZIL ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 78
FIGURE 55. ARGENTINA ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 79
FIGURE 56. REST OF SAM ACCESS CONTROL MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 80
The List of Companies
1. Gemalto N.V.
2. Honeywell International, Inc.
3. AMAG Technology Inc.
4. Siemens AG
5. ASSA ABLOY AB
6. NEC Corporation
7. Johnson Controls International PLC
8. Schneider Electric SE
9. Gallagher Group Limited
10. Identiv, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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