Chicago, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The access control market is projected to grow from USD 10.4 billion in 2024 and is expected to reach USD 15.2 billion by 2029, growing at a CAGR of 7.8% from 2024 to 2029.
Increasing adoption of IoT-based security systems with cloud computing platforms is driving the market for access control. IoT sensors integrated with access control systems provide real-time data on access attempts, unauthorized entries, and potential security breaches. Cloud platforms enable centralized data analysis and prompt reaction to security threats. Moreover, IoT allows for granular access control based on factors like time of day, location, user role, and even environmental conditions. This enhances security and prevents unauthorized access to sensitive areas or resources.
To know about the assumptions considered for the study
Major Access Control Companies Included:
- ASSA ABLOY (Sweden)
- dormakaba Group (US),
- Johnson Controls (Ireland)
- Allegion Plc (Ireland)
- Honeywell International, Inc. (US)
- Identiv, Inc. (US)
- Nedap N.V. (Netherlands)
- Bosch Security Systems GmbH (Germany)
- Thales (US)
- AMAG Technology (US)
Other major companies such as Axis Communications AB (Sweden), Gunnebo Safe Storage AB. (Austria), NEC Corporation (Japan), GALLAGHER GROUP LIMITED (NewZealand), Brivo Systems, LLC. (US), SALTO Systems, S.L. (Spain), IDEMIA (France), Vanderbilt industries (UK), Cansec Systems Ltd. (Canada), Securitas Technology (US), Datawatch Systems (US), Telcred (Sweden), Forcefield Security (France), Kisi Inc. (US).
Top 2 Access Control Companies Explained:
ASSA ABLOY manufactures and sells door-opening solutions, such as access control, mechanical and electromechanical locking, identification technology, entrance automation, security doors, hotel security, and mobile access systems. It has a presence in 70 countries across Europe, North and South America, and Asia and Oceania. The company’s regional divisions manufacture and sell mechanical and electromechanical locks, digital door locks, cylinders, and security doors, adapted to the local market’s standards and security requirements. The global divisions manufacture and sell access solutions, identification products, and entrance automation in the market. ASSA ABLOY offers an extensive range of mechanical and electromechanical locks, electronic access control systems, digital door locks, security doors, entrance automation systems (primarily in identity and access management), identification products, hotel security and secure identity solutions, identity and access management tools, biometric systems, government IDs for authenticity and protection, and other related products and services. The company’s major series of access control system platforms are CLIQ, Seos, Aperio, Incedo, Hi-O, and Accentra.
dormakaba Group is a global security group formed through the merger of Kaba Group (Switzerland) and Dorma Group (Germany). The company offers a wide range of products and services, from individual locks and door controls to complete integrated access systems. The range also includes solutions for a seamless flow, such as sensor barriers, speed and self-boarding gates, high-security locks, workforce management solutions, as well as services for all these applications. The primary focus of the company is on creating safe, secure, and seamless experiences for people in various buildings and locations, spanning offices, hospitals, airports, schools, and even homes. It caters to diverse industries, including commercial, healthcare, education, hospitality, and retail. dormakaba boasts a strong commitment to innovation and sustainability, striving to constantly improve their offerings while minimizing environmental impact. With a global presence in over 50 countries (production sites and distribution and service offices) and many brands such as Keyscan, Best, Dorma, Dormakaba, and Legic.
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Access Control Market Dynamics:
Drivers: Increasing adoption of IoT-based security systems with cloud computing platforms
Increasing adoption of IoT-based security systems with cloud computing platforms is one of the major drivers for the increasing demand for access control. The power of cloud technologies and cloud-based infrastructure has led to several innovations throughout the past decade. Cloud-based platforms offer businesses advantages that can impact the budget, operational efficiency, and compliance. Cloud platforms offer on-demand scalability, allowing businesses to easily expand or contract their access control systems as needed, without significant upfront investments in hardware infrastructure. Moreover, cloud-based systems enable remote management of access control settings, user credentials, and system updates, simplifying administration and enhancing operational efficiency.
Restraint: High installation, maintenance, and ownership costs of access control systems
High costs associated with the installation and maintenance of access control systems are expected to be the key factor hampering the growth of the market. Setting up an access control system often involves specialized hardware (readers, controllers, panels) and sophisticated software for configuration and management. This complexity can drive up initial installation costs. Access control systems require regular maintenance and updates to ensure optimal performance and security. This includes software updates, hardware repairs, and potential replacements over time. Moreover, Installing complex access control systems often requires qualified technicians, further adding to the initial cost.
Opportunity: Growing implementation of mobile-based access control
Vendors are innovating their products to meet the ever-changing requirements of customers, who nowadays are constantly looking to adopt advanced security solutions. Mobile based access control aids in remote access management users can grant temporary access, revoke permissions, and manage settings remotely through their mobile devices, increasing flexibility and control. Mobile apps can also personalize access experiences based on user preferences, such as preferred entry points or automatic door unlocking upon approach.
Challenge: Low awareness among users about availability and benefits of advanced security solutions
For centuries, access control systems have existed in their simplest form as mechanical locks; with technology’s evolution, there have been various improvements and innovations. Many people perceive advanced security solutions like access control systems as complex and expensive, often reserved for large corporations or government facilities. Cost often becomes the primary deciding factor for users, leading them to overlook the long-term benefits and return on investment that advanced security solutions provide. This perception can deter potential users from exploring these options for their homes or businesses.
Access Control Market Segmented By:
By Offering:
- Hardware
- Software
- Services
By Service:
- Access control as a service
- Hosted ACaaS
- Managed ACaaS
- Hybrid ACaaS
Vertical:
- Commercial
- Military & Defense
- Government
- Residential
- Education
- Healthcare
- Manufacturing and Industrial
- Transportation
By Region:
- North America
- APAC
- Europe
- Rest of the world
