Global access control market is rising at an exponential rate as it satiates the need for advanced and innovative security systems. The global access control market is anticipated to inflate by an impressive CAGR of 9% during the forecast period (2018-2023) with which it can scale valuation USD 12.53 billion in 2023, asserts Market Research Future (MRFR) in its comprehensive study. The technology is thriving on several advantages such as tracking crime rate, safety, accurate information, improved accuracy, and more, which has eventually forced the market to expand rapidly over the years. Due to some of the decisive factors in the semiconductor industry, global access control market can easily chart its course towards the future.
Access control is considered as one of the advanced measures that assist in enhancing security by allowing an individual to modify the security protocols for a database. Access control solutions are also based on storing the identity of an individual either by biometrics, or access card, and then verifying the same and provide access to an area in the enterprise.
Market Drivers & Trends
The significant factors that are contributing towards the market growth sum up are high adoption of access control solutions, higher technological advancements, and deployment of wireless technology in security systems, and broader adoption of IoT based security systems with cloud computing platforms. With the growing security concerns, there is now a higher adoption of access control solutions by significant enterprises and residents across the globe is witnessed in high notions.
Moreover, some other factors behind the market are attributed to a boost in crime rate, illegal perimeter intrusion, and cyber-attacks. These have given upsurge to the use of securing necessary equipment, essentials in homes, and even individual safety. With these, the adoption of access control as a service and mobile-based access control are also anticipated to offer an outstanding opportunity for the market growth in the assessment period.
In the case of point, Princeton, one of the providers of access control system was identified and created a multi-biometric access control solution for shipping containers. It was designed to identify people as they pass through the shipping container. In the current time, most of the office premises have made a compulsory note for their employees to have more than one access control method. While the adoption of access control solution is surging with positive note, several government bodies are also taking keen interest in protecting its assets. Governments across the US and Europe have already installed time-based access to businesses and have limited access to the general public at certain places.
On the flip side, factor such as lack of awareness about advanced security systems, and security concerns in concern with unauthorized access and data breach in enterprises might pose as challenges to the market growth during the forecast period.
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The market for access control market globally has been segmented into technology and application.
In terms of technology, the market has been segmented into authentication systems, detection systems, alarm panels, communication devices, and perimeter security system. Among these, the authentication system is additionally segmented into biometric, card-based, touch screen and keypads, door contacts, intruder alarm systems. Moreover, the detection system is also segmented into motion detector, glass break detector, and door/window sensor. Lastly, perimeter security systems are thus, segmented into free-standing perimeter security and buried perimeter security.
In terms of application segment, the market includes homeland security, commercial, industrial, and residential. Among these, homeland security is segmented into defense and government buildings. Commercial is also segmented into airports, financial institutions, healthcare, telecommunication, and stadiums.
The access control market has witnessed a colossal adoption over the past decade in various regions such as North America, Europe and the rest of the world.
Asia-Pacific is anticipated to expand with having the highest CAGR during the forecast period, which is due to broader reception of foreign companies to set their manufacturing plants. With this, several local IT businesses and startups have been established, which is likely to provide more security of their assets. China, Japan, and India are the key countries where revolution in the residential properties are at rapid pace. The properties are now fortified with advanced biometric-enabled access control which reduces the risk of burglary and theft. Urbanization is also one of the major factors behind growth in residential access control.
On the other hand, countries such as the US, Canada, Germany, and the UK have already established markets. These countries, along with other countries in Europe were the first adopters of access control solution in office and residential premises. North America was the leading region in 2017 owing to the planned residential areas, office spaces, and commercial and government properties.
The most important players in the access control market are identified as ASSA ABLOY AB (Sweden), Gemalto N.V. (Netherlands), Allegion PLC (Ireland), NEC Corporation (Japan), Tyco International PLC (Ireland), Honeywell Security Group (US), Bosch Security Systems Inc. (Germany), Gunnebo AB (Sweden), Crossmatch Technologies Inc. (US), and NAPCO Security Technologies Inc. (US).
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List of Figures
FIGURE 1 Global Access Control Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Access Control Market
FIGURE 4 Value Chain Of Global Access Control Market
FIGURE 5 Share Of Global Access Control Market In 2017, By Country (In %)
FIGURE 6 Global Access Control Market, 2018–2023
FIGURE 7 Sub-Segments Of Application
FIGURE 8 Global Access Control Market Size, By Application, 2017
FIGURE 9 Share Of Global Access Control Market, By Application, 2018 To 2023
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