PUBLISHER: SkyQuest Technology Consulting Pvt. Ltd. | PRODUCT CODE: 1165255
PUBLISHER: SkyQuest Technology Consulting Pvt. Ltd. | PRODUCT CODE: 1165255
Global Access Control Market was valued at USD 8.5 billion in 2021, and it is anticipated to attain a value of USD 14.2 billion by 2028, at a CAGR of 9% over the prediction period (2022 - 2028).
The access control market is primarily driven by the growing need to enhance safety and security across various residential and commercial sectors, as well as by the quick development of cloud computing and access control. Growing adoption of connected access control systems for homes that can be accessed remotely and increased use of the systems as a security measure for both employers and employees, shielding employees from any potential incidents that may happen in office buildings or other locations, are driving the growth of the access control market.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Access Control Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Access Control Market is segmented based on Component, Type, Application, and Region. Based on Component, it is categorized into Hardware- Authentication System (Biometric, Card-Based, Touch Screen, Keypads, Door Contacts, Intruder Alarm System), Detection System (Motion Detector, Glass Break Detector, Door / Window Sensor), Software, Services (Training, Consulting, Installation, Integration, Maintenance, Support). Based on Type, it is categorized into DAC, MAC, and RBAC. Based on Application, it is categorized into Home, Security, Commercial, Residential, and Industrial. Based on the region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Due to their convenience and affordability, cloud-based solutions are preferred by businesses of all sizes over traditional solutions. The majority of business systems today, including email, sales CRMs, marketing tools, productivity tools, IT infrastructure, messaging, and website hosting, run in the cloud. The number of ACaaS applications that allow for remote security management via the web is multiplying, which has significantly increased demand for the cloud-based system. The demand for these solutions is being accelerated by beneficial elements like high security, flexibility, multi-site management, and operational improvement.
Restraint
There are several access control technology options available, each with their own set of benefits and capabilities. A few examples of systems with different prices include smart cards, keypads, biometric systems, and smartphone systems. Physical key-based lock systems might not have high prices. However, replacing or rekeying the locks could incur significant extra costs.
Market Trends
The increased use of smartphones and other mobile devices has transformed how the corporate sector views organisational mobility practises. The tremendous move towards workplace mobility has increased the necessity for mobile technologies. In the next three years, 54% of enterprises will transition to mobile access control systems, according to a 2021 HID Global research. Mobile credentials are one of the most popular components of mobile-based applications. The majority of authenticating cards are duplicate-friendly and unencrypted.