Dublin, Dec. 22, 2021 (GLOBE NEWSWIRE) -- The "Global Access Control Market - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global access control market is expected to grow from USD 8.6 billion in 2021 to USD 13.1 billion by 2026; it is expected to grow at a CAGR of 8.7% during 2021-2026.
Continued adoption of Access Control as a Service (ACaaS); implementation of mobile-based access control; global proliferation of smart cities initiatives; and increasing urbanization in emerging countries are expected to provide huge growth opportunities to the access control market players.
The growth of the access control market is driven by high adoption of access control solutions owing to increasing crime rates globally; technological advancements and deployment of wireless technology in security systems; and adoption of IoT-based security systems with cloud computing platforms.
Card-based readers are expected to lead access control hardware market during the forecast period
Card-based readers are proven to be more reliable than biometric readers and electronic locks. Increasing requirement for smart and proximity cards to monitor and record employee activities is one of the factors driving the growth of the market for card-based readers.
Biometric readers are rapidly gaining traction worldwide owing to the growing need for security and surveillance in the private and business sectors. The adoption of voice recognition systems in BFSI is expected to fuel the growth of the market for biometric readers in the coming years.
Hosted access control as a service are expected to lead access control as a service market during the forecast period
The owner of the solutions maintains different types of hosted access control as a service software; therefore, users need not pay for the maintenance of the servers. This has been the key driving factor for the growth of the market for hosted services. The ability of a third party to update access rights of the user saves the time and cost spent on monitoring and managing all access control activities.
APAC to be the fastest-growing market for access control during the forecast period
The growth of the access control market in APAC is attributed to rapid technological advancements, increased awareness regarding security among the masses.
In the coming years, the penetration of the access control systems is expected to grow at a significant rate with the growing security concerns among public transport authorities in APAC. APAC is one of the potential markets for access control systems with the robust presence of several companies offering security solutions in the region.
Major players profiled in this report:
- ASSA ABLOY AB (Sweden)
- Johnson Controls International plc (Ireland)
- dormakaba Holding AG (Switzerland)
- Allegion plc (Ireland)
- Honeywell Security Group (US)
- Identiv, Inc. (US)
- Nedap N.V. (Netherlands)
- Suprema HQ Inc. (South Korea)
- Bosch Security Systems Inc. (US)
- Thales Group (France)
Key Topics Covered:
Market Overview
- Introduction
- Market Dynamics
- Drivers
- Increasing Number of Terrorist Attacks and Organized Crimes Globally
- Growing Awareness Regarding Home Security Systems
- Ongoing Technological Advancements and Increasing Deployment of Wireless Security Systems
- Rising Adoption of IoT-based Security Systems with Cloud Computing Platforms
- Restraints
- High Installation, Maintenance, and Ownership Costs of Access Control Systems
- Major Security and Privacy Concerns Related to Unauthorized Access and Data Breach in Access Control Environment
- Opportunities
- Continued Adoption of Access Control as a Service (ACaaS)
- Gradual Implementation of Mobile-based Access Control
- Rapid Urbanization in Emerging Countries
- Global Proliferation of Smart Cities Initiatives
- Challenges
- Less Awareness Among Users About Availability and Benefits of Advanced Security Solutions
Industry Trends
- Value Chain Analysis
- Access Control Ecosystem
- Key Use Cases
- Idemia Provides Access Control to Digital Garage's New Headquarters
- Eurostar Has Enabled Biometric-Enabled Boarding for UK Passengers
- Multi-Biometric Entry/Exit Program in UAE Enables Seamless Crossings
- Average Selling Price
- Historical Five-Year Revenue Analysis
- Impact of COVID-19 on Access Control Market
- Emergence of Contactless Biometrics
- Use of Thermal Cameras in Access Control
Access Control Market, by Offering
Access Control Models
Types of Access Control Systems
Access Control as a Service Market
Access Control Market, by Vertical
Geographic Analysis
- Introduction
- North America
- US
- US Accounted for Largest Share of Access Control Market in North America in 2019
- Canada
- Adoption of High-Security Solutions Resulted in Significant Share of Canada in Access Control Market
- Mexico
- High Focus of Government on Tightening Security Measures Would Create Lucrative Opportunities for Providers of Access Control Systems
- Europe
- UK
- Market in UK to Grow at Highest CAGR During Forecast Period
- Germany
- Escalating Demand for Biometric Solutions Drives Access Control Market in Germany
- France
- Growing Terrorist Activities Push Access Control Market Growth in France
- Rest of Europe
- APAC
- China
- China Accounted for Largest Share of Access Control Market in APAC in 2019
- Japan
- Growing Economy and Increasing Security Threats to Propel Access Control Market Growth in Japan
- South Korea
- Surging Need for Security Solutions to Ensure Border Security to Accelerate South Korean Market Growth
- India
- Increasing Security Concerns and Rapid Urbanization Boost Indian Access Control Market Growth
- Rest of APAC
- RoW
- Middle East and Africa
- Growing Government Security Initiatives Boost Region's Access Control Market Growth
- South America
- High Crime Rate to Create Demand for Access Control Solutions in this Region
Competitive Landscape
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/kbwq43
