The access control market
revenue will total US$ 15.3 Bn
for 2021, according to Future Market Insights (FMI) study. The overall market is expected to reach US$ 50.4 Bn
by 2031, growing at a CAGR of 12.6%
for 2021 – 2031. Newly released data on the access control demand outlook indicates a 10.8% y-o-y growth in 2021. In terms of system types, the market share of fingerprint and face recognition access control systems are the largest. However, the iris recognition access control systems will register faster growth at a 16.2% CAGR through the assessment period.
The adoption of access control systems in various industry verticals is expected to propel the market. Information and data security is becoming a top priority for industrial organizations to secure their information and other digital assets from threats. The latter goal largely depends on guaranteeing safety for visitors, plant managers, workers, and more. The growing necessity of integrated access control solutions to create secure environments across industrial areas that layer several technologies in conjunction with contingency plans for human and asset protection will drive demand.
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Therefore, access control is the ideal way to seamlessly fuse such solutions without compromising on productivity, safety, and security with greater efficiency. Several industrial organizations such as IT & telecom, healthcare, BFSI, and manufacturing, are adopting access management solutions to ensure the protection of resources.
The rapidly growing usage of mobile devices has shifted the focus of corporate sectors towards enterprise mobility practices. The major types of smartphone door access control systems include IP systems, control panel systems, and mobile access credentials.
The use of mobile-based credentials is the organic evolution from conventional physical security in the access control industry. Mobile credentials offer superior security and convenience. Smartphone access encompassed with cloud-based systems make such solutions an economical choice for long-term applications, although local systems only require one-time investments.
Key Takeaways from the Access Control Market Study
- Iris recognition access control systems will witness the highest growth rate at over 16 percent, owing to investments into new biometric security solutions through 2031.
- The healthcare sector is anticipated to capture the largest share of 19.8 percent in 2021, backed-up by security concerns in healthcare facilities associated with the use of EMR.
- The U.S. will remain dominant in North America with an 84.5 percent share in 2021, supported by faster access to tech developments in end use verticals.
- The market in Japan is expected to progress at a noteworthy CAGR of close to 17 percent through 2031, supported by a tech-driven economy.
- In the U.K., sales are expected to increase at a CAGR of more than 15 percent over the next ten years, driven by favorable government investments and policies.
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“Access control systems have become a fundamental part of enterprise security departments for applications including the protection of perimeter and high-level data and assets,” said a report analyst. “Frequently changing sources of threats, mandatory compliance, and increased liability issues are the key elements fueling the demand for access control systems for enhancing security.”
Key Takeaways from Access Control Market Survey
- North America is likely to remain one of the most attractive markets with the U.S. accounting for a market share of over 79% in the region by 2031.
- The U.K. is expected to lead the European market with growing sales of access control solutions at a CAGR of over 15% through 2031.
- Thanks to the rising government investments in infrastructural advancement, the demand for access control solutions in China is estimated to rise at a CARG of 12% over the forecast period.
- With increasing terror threats in India, the demand for access control solutions in the country is expected to surpass a valuation of US$ 751 million by 2031.
- Japan is anticipated to emerge as a highly lucrative market, demonstrating growth at a robust CAGR of 17% over the next ten years.
- Increasing awareness regarding cybercrime and security for data is fueling the demand for access control solutions.
- Advent of digitalization is expected to create sales opportunities for access control solutions.
- Ongoing technological development in access control solutions will bolster the growth of the market.
- Growing shift from key-based to key-less access control is driving the growth of the market.
Manufacturers operating in the access control market are emphasizing on optimizing their existing product and service portfolio. Some of the market players are focusing on receive approval for their product to expand their market share, For instance.
- Honeywell the expanded the capabilities of its MAXPRO Cloud portfolio in Feb 2021, with the launch of its new products MPA1 and MPA2, access control panels that offer web, cloud-based and on-premise hosting options.
- Nedap’s AEOS physical access control system received CPNI certification, which makes it suitable for the U.K.’s technical authority standards applications.
Some of the key players operating in the market profiled by FMI are:
- Honeywell International Inc.
- NEC Corporation
- Johnson Controls
- Bosch Security and Safety Systems
- Assa Abloy AB
- Thales Group
- STANLEY Convergent Security Solutions, Inc.
- Secom Co., Ltd
- Dormakaba Holding AG
- HID Global
- Matrix Comsec Pvt. Ltd.
- Paxton Access Ltd.
- BioEnable Technologies Pvt Ltd.
- Spectra Technovision (India) Pvt. Ltd.
- ZKTeco India
- Intellicon Private
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More Valuable Insights on Access Control Market
FMI, in its new report, offers an unbiased analysis of the global access control market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in access control market with detailed segmentation:
- Fingerprint Scanners
- Facial Recognition Devices
- Iris Scanners
- Smart Cards
- Integrated Access Control Software
- Standalone Software/Middleware
- Facial Recognition Software
- Iris Recognition Software
- Professional Services
- System Integration & Installation
- Security Consulting
- Support & Maintenance
- Managed Services
By System Type:
- Fingerprint Access Control Systems
- Face Recognition Access Control Systems
- Iris Recognition Access Control Systems
- Card-Based Access Control Systems
- IT & Telecom
- Military & Defense
- Transportation & Logistics
Key Questions Covered in the Report
- The report offers insight into access control market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for access control market between 2021 and 2031
- Access control market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Access control market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Read more: https://www.prnewswire.com/ae/news-releases/fingerprint-scanners-to-remain-top-selling-accounting-for-over-one-third-of-access-control-demand-in-2021-future-market-insights-898127483.html