Market Research Report
Global Access Control Market - Growth, Trends and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||393312|
|Published||Content info||105 Pages
Delivery time: 1-2 business days
|Global Access Control Market - Growth, Trends and Forecast (2018 - 2023)|
|Published: July 10, 2018||Content info: 105 Pages||
Global Access Control Market was valued at USD 6.8 billion in 2017, and is expected to reach a value of USD 11.1 billion by 2023 at a CAGR of 8.45%, over the forecast period (2018-2023). The scope of the report is limited to Type products offered by major players which involves Hardware, Software, and Services. While the Verticals considered in the scope of the report include Commercial, Residential, Logistics & Retail, Government & Transportation, Industrial, Healthcare, Military and Defense.
The access control systems are used to regulate and monitor the entry and exit of people at various places, and ensure safety and security. The application of access control systems range from residential buildings to high-end security, such as airport terminals and border security points. The access control systems offer a wide range of access options, such as biometrics, cards & readers, controllers and management software/database/servers. In the biometric access control system, the entry or authentication is controlled by either fingerprint, or face recognition, or by iris and voice recognition. The biometric systems are used in critical locations, which require high levels of security, such as government and military facilities, airports, and pharmaceutical laboratories.
According to the FBI's Internet Crime Complaint Center (IC3), the Business Email Compromise (BEC) scam saw an increase of 1,300% in identified exposed losses, totaling over USD 3 billion, since January 2015. Such losses could be better controlled through the use of access control software. According to the Association of Fraud Examiners in 2015 the amount of internal theft accounts for about 5% of annual revenue for companies. The implementation of access control systems contributes to the growth in the safety and security of office surroundings. Such identity theft of data has been increasing owing to which governments have been adopting the use of access control systems. As the cyber attacks, frauds and government authentication mandates continue to grow in sophistication and scope, the need to strengthen security while reducing costs is paramount across various industry verticals.
Modern society is increasingly seeking new ways to simplify their lives. The ultimate goal is to fit more activities into the same space of time but with the least exertion of physical energy. At the same time, the increasing theft attacks and enhanced insecurity in the society leads to the strong measures taken for security. An access control system has innovative features that keep homeowners safe and secure. The benefits of using access control systems for residential use is that they provide an increased layer of security. At the same time, access control provides remote access feature to control panel and doors of the home thus make it easier use for the people with busy schedule. The technological advancement in access control also provides the option of accessing the house and check the security of the house even if not in the same city or state.
The Unites States is expected to dominate the North America access control market throughout the forecast period; the country accounted for a major share of the market in 2018. Increase in crime rates, cyber-attacks and terrorist attacks are the major factors that are driving forward the United States access control market. The Homeland Security Council is using the United States Standard for Biometric Screening, which is a ten fingerprint scan. Fingerprints of visa applicants are collected at all United States Embassies and Consulates. The increasing demand for more secure solutions has resulted in technologically advanced security products. In addition, there is an increasing demand in the healthcare segment for hygienic biometric patient identification systems; this trend is driving the United States noncontact biometric market towards continued robust growth in the coming years. In addition, this pattern is considered to be a burning trend in the United States.
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