Dublin, March 30, 2023 (GLOBE NEWSWIRE) -- The "Global Access Control Market by Offering (Hardware-Card-based, Biometric, & Multi-technology Readers, Electronic Locks, Controllers; Software; Services), ACaaS (Hosted, Managed, Hybrid), Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Access Control Market size is projected to grow from USD 9.9 billion in 2023 to USD 14.9 billion by 2028; it is expected to grow at a CAGR of 8.4% from 2023 to 2028.
Offices and other business units are the key end-users of access control systems. Security smart cards and biometric access systems play an important role in preventing minor security risks in offices. These systems control the access of individuals in offices and monitor their attendance. Digitus Biometrics, Inc. provides advanced access control systems and server locks based on biometric authentication, RFID smart card technology, and other identity management technologies for securing data centers and critical IT assets.
Increased acceptance of cloud-based services to create lucrative opportunities for market players
The managed ACaaS market is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the feature of updating the access rights by third parties, which helps in reducing the time and costs involved in monitoring and managing all access control activities and enables the consumers to pay as per use. The benefits offered by the hosted and managed services and the reduction of capital expenditure by paying only for consumed services have been driving the ACaaS market.
Growing need for security and maintenance to drive market
North America in the access control market holds the largest share and Asia Pacific is expected to witness the highest growth during the forecast period. This growth can be attributed to a rise in crime rate that has resulted in a growing focus on providing effective and efficient electronic security solutions. The growing demand for a secure and reliable form of identification for all federal employees and contractors largely drives the access control market in the US.
Market Dynamics
Drivers
- Growing Awareness Concerning Home Security
- Rising Number of Smart Infrastructure and Smart City Projects
- Ongoing Technological Advancements and Increasing Deployment of Wireless Security Systems
- Increasing Adoption of IoT-Based Security Systems with Cloud Computing Platforms
Restraints
- High Installation, Maintenance, and Ownership Costs of Access Control Systems
- Security and Privacy Concerns Related to Unauthorized Access and Data Breaches in Access Control Environment
Opportunities
- Rapid Urbanization in Emerging Countries
- Adoption of ACaaS Cost-Effective and Flexible Solution
- Growing Implementation of Mobile-Based Access Control
Challenges
- Low Awareness Among Users About Availability and Benefits of Advanced Security Solutions
- Availability of Free Access Control Services
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 248 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $9.9 Billion |
| Forecasted Market Value (USD) by 2028 | $14.9 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Types of Access Control Systems
7 Access Control Models
8 Access Control Market, by Offering
8.1 Introduction
8.2 Hardware
8.2.1 Card-Based Readers
8.2.2 Biometric Readers
8.2.3 Multi-Technology Readers
8.2.4 Electronic Locks
8.2.5 Access Controllers
8.2.6 Others
8.3 Software
8.4 Services
9 Access Control as a Service Market
9.1 Introduction
9.2 Access Control as a Service
9.3 Hosted Acaas
9.4 Managed Acaas
9.5 Hybrid Acaas
10 Access Control Market, by Vertical
10.1 Introduction
10.2 Commercial
10.3 Military & Defense
10.4 Government
10.5 Residential
10.6 Education
10.7 Healthcare
10.8 Manufacturing and Industrial
10.9 Transportation
11 Access Control Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- Allegion plc
- Amag Technology, Inc.
- Assa Abloy
- Axis Communications Ab
- Bosch Security and Safety Systems
- Brivo, Inc.
- Cansec Systems Ltd.
- Datawatch Systems
- Dormakaba Holding
- Forcefield Systems
- Gallagher Group Limited
- Gunnebo Ab
- Honeywell International Inc.
- Idemia
- Identiv
- Johnson Controls
- Kisi Inc.
- Nec Corporation
- Nedap N.V.
- Salto Systems, S.L.
- Stanley Security (Securitas Technology)
- Suprema Inc.
- Telcred Ab
- Thales Group
- Vanderbilt Industries
For more information about this report visit https://www.researchandmarkets.com/r/7lgmqj
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