New York, United States , July 16, 2024 (GLOBE NEWSWIRE) -- The Global Access Control Market Size is to Grow from USD 9.6 Billion in 2023 to USD 20.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.78% during the projected period.
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Access control is one type of security that reduces user access and resource usage in a computer system. This can be applied to real resources like rooms or buildings as well as digital resources like files, databases, and computer systems. Access control systems frequently utilize authorization and authentication to verify users' identities and grant or deny access by their permission. Authentication verifies a user's identity, whereas authorization determines what resources or actions a user is allowed to access based on their role or permissions. The access control system is one of the most crucial parts of corporate security departments for protecting the perimeter and high-level data and assets. The increased use of cloud computing platforms in conjunction with Internet of Things-based security systems is one of the primary reasons behind the growing demand for access control. The power of cloud technologies and cloud-based infrastructure has enabled several improvements. Businesses can benefit from cloud-based solutions in ways that could impact budget, operational efficiency, and compliance. However, the primary factor restricting the market's growth is expected to be the high installation and maintenance costs of access control systems. When putting up an access control system, specialized hardware and sophisticated software for configuration and management are usually required.
Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the report on the "Global Access Control Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Type (DAC, MAC, RBAC), By Application (Homeland Security, Commercial, Residential, and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The hardware segment is anticipated to hold the greatest share of the global access control market during the projected timeframe.
On the basis of component, the global access control market is divided into software, hardware, and services. Among these, the hardware segment is anticipated to hold the greatest share of the global access control market during the projected timeframe. Integrated hardware solutions such as encrypted door controllers, smart cards, biometric applications, wireless lock systems, and portable hand-held card readers improve security and protect people, property, and assets.
The discretionary access control (DAC) segment is anticipated to hold the largest share of the global access control market during the projected timeframe.
On the basis of type, the global access control market is divided into mandatory access control (MAC), discretionary access control (DAC), and role-based access control (RBAC). Among these, the discretionary access control (DAC) segment is anticipated to hold the largest share of the global access control market during the projected timeframe. The primary driver propelling the growth of this market is the adoption of DAC systems. The system is gaining popularity in the industry due to its benefits, which include lower prices, quicker authentication, more efficiency, and data security.
The commercial segment is predicted to hold the greatest share of the global access control market during the estimated period.
On the basis of application, the global access control market is divided into homeland security, commercial, residential, and industrial. Among these, the commercial segment is predicted to hold the greatest share of the global access control market during the estimated period. These kinds of standards are likely to rapidly grow the need for access control systems in the commercial sector.
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North America is expected to hold the largest share of the global access control market over the forecast period.
North America is expected to hold the largest share of the global access control market over the forecast period. North America is well-known for its widespread use of cutting-edge technologies, stringent legal system, and focus on security. One of the security measures that companies and organizations concentrate on to protect employee safety, data, and assets is access control systems. Due to ongoing investments in IoT integration, smart building projects, and the need to comply with privacy and data protection regulations, the market is growing in North America.
Asia Pacific is predicted to grow at the fastest pace in the global access control market during the projected timeframe. In the Asia-Pacific region, access control is growing more and more popular. As Asia's economies expand, there is a growing demand in both the public and commercial sectors for more robust security measures. Infrastructure development, growing urbanization, and the emergence of smart cities are driving the use of the access control market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global access control market include SSA ABLOY, Johnson Controls, dormakaba Group, Allegion plc, Honeywell International Inc., Nedap N.V., Identiv, Inc., Suprema Inc, Thales, Gunnebo AB, NEC Corporation, Napco Security Technologies, Inc., HID Global Corporation, Vanderbilt Industries, and Others.
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Recent Developments
- In June 2024, The Morley-IAS Max, a small and potent intelligent fire alarm control panel designed to enhance building and occupant safety, was launched by Honeywell in Vietnam. An easy-to-install and maintain array of technically sophisticated functionality is provided by the new fire detection and alarm system.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global access control market based on the below-mentioned segments:
Global Access Control Market, By Component
- Hardware
- Software
- Services
Global Access Control Market, By Type
- DAC
- MAC
- RBAC
Global Access Control Market, By Application
- Homeland Security
- Commercial
- Residential
- Industrial
Global Access Control Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Global Access Control Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Type (DAC, MAC, RBAC), By Application (Homeland Security, Commercial, Residential, and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
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