Market Research Future (MRFR)’s recent study indicates that the global access control market is expected to scale a valuation of USD 12.53 Bn by the end of 2023. The report suggests that the global market is poised to thrive at 9% CAGR during the forecast period 2018 to 2023. Access control is being deployed extensively in both commercial and residential projects for countering threats such as illegal perimeter intrusion, cyber-attacks, etc.
The growth in IoT, sensors technology and wireless technology are expected to have a favorable impact on the expansion of the global access control market over the next couple of years. In addition, industry leaders are poised to increase investments for product development and innovation. It is anticipated to boost the growth trajectory of the market in the foreseeable future.
Most of the organizations have mandated more than one access control systems for assuring cent percent safety. An upsurge in the deployment of the technology is expected over the next few years. This, in turn, is likely to accelerate revenue creation for participants of the access control market.
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Major Key players
- 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)
- NAPCO Security Technologies Inc. (US)
By technology, the global access control market has been segmented into authentication systems, detection systems, alarm panels, communication devices, and perimeter security system. The authentication system segment is further sub-segmented into biometric, touch screen and keypads, card-based, door contacts, and intruder alarm systems. The detection system segment has been sub-segmented into glass break detector, motion detector, and door/window sensor. The perimeter security system segment is sub-segmented into free standing perimeter security and buried perimeter security.
By application, the access control market has been segmented into homeland security, commercial, industrial, and residential. The homeland security segment has been sub-segmented into defense and government buildings. The commercial segment is further sub-segmented into airports, healthcare, financial institutions, telecommunication, and stadiums.
The global access control market, by region, has been segmented into Asia Pacific, North America, Europe and the Rest of the World. Asia Pacific is likely to lead the proliferation of the market owing to increasing technological implementations. The region is expected to witness developments in the IT industry which is conducive to the growth of the access control market in the foreseeable future. China, Japan, and India are presumed to revolutionize the growth trajectory of the access control market over the assessment period. North America and Europe are developed markets and are projected to exhibit rapid developments in the forthcoming years. The U.S., Canada, Germany, and the U.K. are likely to contribute significantly to the expansion of the access control market.
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