Access Control Global Market Report 2023
Major players in the access control market are Suprema HQ Inc., Honeywell Security Group, Identiv, Allegion plc, Assa Abloy AB, Johnson Controls International plc, Dormakaba Holding AG, Nedap NV, Bosch Security Systems Inc.
New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Access Control Global Market Report 2023" - https://www.reportlinker.com/p06319901/?utm_source=GNW
, Gemalto NV, NEC Corporation, Brivo, Inc., Oracle Corporation, iCIMS Inc., and Workable Software Ltd.
The global access control market grew from $20.38 billion in 2022 to $22.94 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The access control market is expected to grow to $37.64 billion in 2027 at a CAGR of 13.2%.
The access control market includes revenues earned by entities by providing systems that reduce the threat of unwanted access to logical and physical systems.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Access control refers to physical security and information access management system that allows firms and multiple verticals to control the access to corporate data and resources and premises.Secure access control employs policies that verify the user to grant access at certain checkpoints.
This process usually entails verifying the identity or entering an authentication pin to determine whether or not access should be permitted.
Asia-Pacific was the largest region in the access control market in 2022 and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the access control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of access controls are card and biometrics-based.Card-based access control refers to a card-based solution issued to a user with a unique alphanumeric code.
A unique code is assigned to every card that matches a user registration code and is strictly separate for every card.The access control can be deployed on-premise and cloud in various industries ranging from commercial, military & defense, government, residential, education, healthcare, manufacturing & industrial, and transportation industrial verticals.
The different components offered in access control include hardware, software, and services.
Increasing crime rates across the globe is expected to drive the access control market.Inequality, lack of support for families and neighborhoods, inaccessibility to various government services, and lack of leadership in communities have contributed to rapid growth in crime rates across the globe.
The rapid growth in the crime rate has forced residential communities and industrial entities to adopt advanced access control systems to secure valuable assets and infrastructure. According to the data published in the Federal Bureau of Investigation, the rate of violent crime per 100,000 individuals in the United States increased from 380.8 in 2019 to 398.5 cases in 2020. Therefore, rising crime rates across the globe is expected to boost demand for access control solutions during the forecast period.
Technological advancements are a key trend gaining popularity in the access control market.Major companies operating in the access control solutions market are focused on providing technologically advanced solutions to strengthen their market position.
These companies are implementing next-generation access control solutions and tools into their services, such as bar codes, Wiegand proximity reader, smart cards, RFID, biometrics, NFC, BAC, and others to track the access of sources and premises. For instance, In April 2020, Suprema HQ, a South Korea-based IT Services and IT Consulting firm, introduced a smartphone-based contactless access control solution and management platform for door and lock access that can manage, issue, and track access credentials by integrating smartphone application with NFC and Bluetooth Low Energy (BLE) technology.
In February 2020, ASSA ABLOY, a Sweden-based access control company acquired Biosite for an undisclosed amount.This acquisition will help ASSA ABLOY in strategic technological advancement, as the company will reinforce its current offering within access control solutions and offer complimentary developing opportunities.
Biosite is a UK-based company that delivers biometric access control to the UK construction industry.
The countries covered in the access control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The access control market research report is one of a series of new reports that provides access control market statistics, including access control industry global market size, regional shares, competitors with a access control market share, detailed access control market segments, market trends and opportunities, and any further data you may need to thrive in the access control industry. This access control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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