PUBLISHER: Polaris Market Research | PRODUCT CODE: 1132352
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1132352
The global physical access control systems market size is expected to reach USD 15.98 billion by 2030, according to a new study by Polaris Market Research. The report "Physical Access Control Systems Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Hardware, Services); By Type (RBAC, MAC, DAC), By Application; By Region; Segment Forecast, 2022 - 2030" provides detailed insight into current market dynamics and analysis of future market growth.
Physical access control (PAC) represents a smart electronic framework of software and hardware combined that permits access to secure office, commercial buildings, etc., and also help in counting attendance along with a number of passages from employees within premises. This overall system is called logical access control (LAC). The rising adoption of this set of electronic security systems also hassle-free to use is credibly boosting the development of the physical access control market during the projection period.
The significant growth in the market is evaluated to be navigated by the rising acceptance of Smartphone's with 4G & 5G technologies, and various other internet-connected gadgets that perform the important function of an authentication process. The utilization of IoT-based technologies tremendously upgrades the physical access control system and provides ultra-level security and allows to control of premises from faraway places.
The COVID-19 pandemic has retarded and turned down the global physical access control system market, the stipulation for sales was decreased due to office & manufactures sites shutdown that pushed the access control system to accept new techniques and enhancements. COVID-19 has forced the demand & production of the physical access control system market that derange the supply chain system. The acceptance of contact-free biometrics has surged in the pandemic owing to the fulfill social distancing rules.
Asia Pacific region is anticipated to acquire the lion's market share and bestow significant business opportunities for industry growth during the anticipation timeframe, due to the robust computerization and huge demand for electronic security techniques in the region. The booming acceptance of physical access control systems by minuscule & medium-scale organizations, military & defense, shopping malls, airports, government buildings, business centers, hospitality sector, ATMs, banks, and entertainment gathering sites is anticipated to lead the development of the physical access control market. The big fear of terrorist attacks and increasing crime rates and an impartial public police ratio in APAC nations are also anticipatory to generate massive demand for physical access control systems.
Physical Access Control Systems Market Report Highlights
The residential sector is anticipated to expand at the highest rate throughout the study session. As robberies and mobile, gold chain snatching rates are increasing internationally; the electronic security system is becoming popular among residential buildings, and private residential colonies.
The hardware segment holds the biggest market share in 2021 attributed to the increasing application of physical access control technology in business hubs, defense establishments, manufacturing plants, etc.
Upgradation of IoT-derived security systems, the rollout of wireless systems, and the unification of cloud computing are anticipated to evolve as prominent growth aspects in the future.
APAC region govern the market share during the study period and will continue its dominance owing to rising collective individual & enterprise revenue and growing awareness for electronic security in major countries like China and India.
The global players include Allegion plc., Ltd., TKH Group NV, Bosch Security and Safety Systems, Tyco, Aiphone Co., Assa Abloy AB, Honeywell Commercial Security, Safran Security, Axis, and Others.
Polaris Market Research has segmented the physical access control systems market report based on by component, type, application, and region:
Physical Access Control Systems, Component Outlook (Revenue - USD Billion, 2022 - 2030)
Software
Hardware
Services
Physical Access Control Systems, Type Outlook (Revenue - USD Billion, 2022 - 2030)
RBAC
MAC
DAC
Physical Access Control Systems, Application Outlook (Revenue - USD Billion, 2022 - 2030)
BFSI
Retail
Transportation and Utilities
Manufacturing
Services
Institutions
Residential
Commercial
Industrial
Homeland Security
Communication and Media
Healthcare
Physical Access Control Systems, Regional Outlook (Revenue - USD Billion, 2022 - 2030)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Figure 1. Global Physical Access Control Systems Market, 2018 - 2030 (USD Billion)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Approach
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Type
Figure 7. Global Physical Access Control Systems Market, by Type, 2021 & 2030 (USD Billion)
Figure 8. Market by Component
Figure 9. Global Physical Access Control Systems Market, by Component, 2021 & 2030 (USD Billion)
Figure 10. Market by Application
Figure 11. Global Physical Access Control Systems Market, by Application, 2021 & 2030 (USD Billion)
Figure 12. Physical Access Control Systems Market Assessment, By Geography, 2018 - 2030 (USD Billion)
Figure 13. Strategic Analysis - Physical Access Control Systems Market