The global Access Control Market size is projected to grow from USD 9.9 billion in 2023 to USD 14.9 billion by 2028; it is expected to grow at a CAGR of 8.4% from 2023 to 2028
Offices and other business units are the key end-users of access control systems. Security smart cards and biometric access systems play an important role in preventing minor security risks in offices.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Access Control Market by Offering, ACaaS, Vertical and Region- Global Forecast to 2028" - https://www.reportlinker.com/p05061078/?utm_source=GNW
These systems control the access of individuals in offices and monitor their attendance. Digitus Biometrics, Inc. provides advanced access control systems and server locks based on biometric authentication, RFID smart card technology, and other identity management technologies for securing data centers and critical IT assets.
Increased acceptance of cloud-based services to create lucrative opportunities for market players “
The managed ACaaS market is expected to grow at the highest CAGR during the forecast period.This growth is attributed to the feature of updating the access rights by third parties, which helps in reducing the time and costs involved in monitoring and managing all access control activities and enables the consumers to pay as per use.
The benefits offered by the hosted and managed services and the reduction of capital expenditure by paying only for consumed services have been driving the ACaaS market.
Growing need for security and maintenance to drive market
North America in the access control market holds the largest share and Asia Pacific is expected to witness the highest growth during the forecast period.This growth can be attributed to a rise in crime rate that has resulted in a growing focus on providing effective and efficient electronic security solutions.
The growing demand for a secure and reliable form of identification for all federal employees and contractors largely drives the access control market in the US.
The breakup of primaries conducted during the study is depicted below:
• By Company Type: Tier 1 – 38 %, Tier 2 – 28%, and Tier 3 –34%
• By Designation: C-Level Executives – 40%, Directors – 30%, and Others – 30%
• By Region: North America– 35%, Asia Pacific – 35%, Europe – 20%, RoW – 10%
Key players operating in robotics as a service market are ASSA ABLOY (Sweden), Johnson Controls (Ireland), dormakaba Holding (Switzerland), Allegion plc (Ireland), Honeywell International (US), Identiv, Inc. (US), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Bosch Security Systems Inc. (Germany), and Thales (France).
The report segments the robotics as a service market and forecasts its size based on region (North America, Europe, Asia Pacific, and ROW), By Offering (Hardware, Software, Services), By Vertical (Commercial, Military & Defense, Government, Residential, Education, Healthcare, Manufacturing & Industrial and Transportation), By Type (Physical Access Control, Logical Access Control, Mobile Access Control), By ACaaS (Hosted, Managed, Hybrid); By Model (Discretionary Access Control, Mandatory Access Control, Role-based Access Control, Rule- based Access Control, Attribute- based Access Control, Risk adaptive Access Control, Identity- based Access Control).The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the robotics as a service market.
The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Reasons to buy this report
• This report includes market statistics pertaining to offering, ACaaS, vertical and region.
• Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
• Illustrative segmentation, analyses, and forecasts for the market based on offering, ACaaS, vertical and region have been conducted to provide an overall view of the access control market.
• The report includes an in-depth analysis and ranking of key players.
• The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall access control market and the subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
• Impact of recession on Access Control Market has also been covered in the report.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing awareness concerning home security; Rising number of smart infrastructure and smart city projects; Ongoing technological advancements and increasing deployment of wireless security systems and increasing adoption of IoT-based security systems with cloud computing platforms), restraints (High installation, maintenance, and ownership costs of access control systems; Security and privacy concerns related to unauthorized access and data breach in access control environment), opportunities (Rapid urbanization in emerging countries; Adoption of ACaaS as cost-effective and flexible solution; Growing implementation of mobile-based access control), and challenges (Low awareness among users about availability and benefits of advanced security solutions and Availability of free access control services).
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the access control market
• Market Development: Comprehensive information about lucrative markets – the report analyses the access control market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the access control market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in access control market.
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