Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Global Card-based Access Control Systems Market Outlook 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Global Card-based Access Control Systems Market Set to Reach $3.9 Billion by 2030
The global Card-based Access Control Systems market is experiencing substantial growth, with an estimated value of $2.3 billion in 2022. Projections indicate that this market is set to surge to $3.9 billion by 2030, marking a robust CAGR of 6.6% during the period from 2022 to 2030. Key segments within this market, such as BFSI, are anticipated to witness a 5.2% CAGR, reaching $545.7 million by the end of the analysis period, while the Retail segment is expected to grow at a steady 5.7% CAGR over the next eight years.
U.S. Market Valued at $586.2 Million, China's Growth at 8.1% CAGR
In 2022, the Card-based Access Control Systems market in the U.S. was valued at an impressive $586.2 million. Meanwhile, China, as the world's second-largest economy, is forecasted to attain a projected market size of $847 million by 2030, driven by a remarkable CAGR of 8.1% from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each expected to grow at rates of 5.3% and 5.7%, respectively, during the 2022-2030 period. In Europe, Germany is set to experience growth at an approximate 5.8% CAGR.
Prominent Competitors Shaping the Landscape
The Card-based Access Control Systems market is highly competitive, with 91 key competitors featured. Some of the notable players in this industry include:
- Assa Abloy AB
- Axis Communications AB
- Gunnebo AB
- Tensor PLC
- Shenzhen Sycreader RFID Technology Co. Ltd.
- SALTO Systems, S.L.
- Nortech Control Systems Ltd.
- Sonitrol Corporation
- Secura Key
- ZKTECO Co. Ltd.
These leading companies are at the forefront of innovation and market development, striving to meet the evolving needs of the industry.
Latest Insights and Offerings in the Market
In addition to market statistics and competitor analysis, this report provides several valuable insights and offerings:
- Special discussions on the global economic climate and market sentiment.
- Coverage on global competitiveness and key competitor percentage market shares.
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial.
- Online interactive peer-to-peer collaborative bespoke updates.
- Access to digital archives and a research platform.
- Complimentary updates for one year.
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts, and market influencers via interviews, podcasts, press statements, and event keynotes.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 433 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $2.3 Billion |
| Forecasted Market Value (USD) by 2030 | $3.9 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- COVID-19 Outbreak to Introduce New Changes in Access Control Domain
- COVID-19 Pandemic Catalyzes Demand for Mobile Access Control Credentials
- Card-based Access Control Systems - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Electronic Access Control Systems: A Prelude
- Card-based Access Control Systems
- Types of Card-based Electronic Access Control Systems
- Traditional Cards
- Smart Cards
- Contactless Smart Card Technology
- Insight into Smart Card based Access Control Systems
- Access Control Cards Stay Relevant Despite Rise of Biometrics
- Market Fortunes Intrinsically Tied to Performance of the Overall Electronic Access Control Industry
- Integrated Systems Grow in Prominence
- Market Outlook
- Underpenetrated Developing Countries Offer Huge Untapped Market Growth Potential
- Widespread Consumer Awareness: The Crucible for Success
- Stiff Competition from Biometrics and Mobile Credentials Pose a Major Challenge
- High Implementation Costs Deter Smart Card Adoption
- Competition
- Players from Developed Markets Face Growing Competition from Low-Cost Asian Manufacturers
- M&A Activity Picks Up
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Contact Cards Give Way to Contactless Card Based Access Control Technologies
- Smart Cards Outshines Traditional Legacy & Proximity Cards
- Global Card-based Access Control Systems by Segment (In %)
- Multi-Application Smart Cards Grow in Demand
- Advancements in Smart Card Readers Drive Adoption
- Businesses Opt for Hybrid Approach
- Smart Card EACS as Smart ID Badges
- Smart Card EACS Witness Increasing Application as Attendance Management Tool
- Biometric Smart Cards in Spotlight
- The Enterprise Sector: A Major End Use Market for Card Based EACS
- Global Connected Enterprise Market (In US$ Billion) for the Years 2017, 2022 and 2024
- Smart Cities to Drive Adoption
- Global Smart Cities Market in US$ Billion: 2018-2026
- Need to Restrict Unauthorized Access to Sensitive Areas Drive Demand in Healthcare Establishments
- Focus Grows on Reducing the Touchpoints in Hospitals
- Card-based EACS: A Widely Acknowledged Access Method in Hospitality Facilities
- Different Types of Access Cards for Hospitality Sector: A Snapshot
- Slowdown in Hospitality Sector Impacts Growth
- Impact of COVID-19 on Hotel Occupancy Rates in Select Countries: March 2020
- Shift from Traditional Frisking and Manual Verification Procedures in Physical Access Control Boost Market Prospects
- Government Sector: An Important Market for Card Based EACS
- Higher Education Sector: A Key Contributor to Growth
- Millennial Population to Significantly Influence Access Control Solutions Market
- Integration of Access Control and Visitor Management Improves Security & Operational Efficiency
- Logical Access Control: Market Laden with Immense Potential for Card Based EACS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/74ziyv
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