The access control market is anticipated to expand its roots at a steady CAGR of 12.4% between 2023 and 2033. The market is anticipated to cross a market share of US$ 61.31 billion by 2033 while it is likely to be valued at US$ 19.05 billion in 2023.
The latter goal largely depends on guaranteeing safety for visitors, plant managers, workers, and more. The growing necessity of integrated access control solutions to create secure environments across industrial areas that layer several technologies in conjunction with contingency plans for human and asset protection will drive demand.
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- Sophisticated cyberattacks, increased digital traffic, and the limitation of unwanted visitors are a few key factors that garner market growth. Furthermore, it also ensures a safe work environment.
- A wide array of applications such as healthcare, manufacturing, BFSI, and financial services are expanding the market growth. The transition also helps in getting rid of traditional keys.
- The advent of biometric scanners and security checks also functioned through access control systems, advancing the safety layer while increasing productivity.
- The integration of machine learning, artificial intelligence, and cloud technologies across the verticals is fueling the demand for access control systems. Moreover, integrated systems with high-end security layers are gaining traction in the access control market.
Key Points
- The United States market leads the access control market in terms of sales volume in North America. The market thrives at a CAGR of 7.5% during the forecast period. The market growth is attributed to the expansion of corporate infrastructure. The regional market is anticipated to hold a sales volume of 4,328.4 in 2023.
- India access control market is another lucrative market with a CAGR of 9.8% between 2023 and 2033. The regional growth is attributed to high digitization in varied sectors like healthcare and financial services. The market is expected to hold a sales volume of 890.4 in 2023.
- The hardware segment is likely to thrive in the component type category as it thrives on a CAGR of 13.3% between 2023 and 2033. The growth is attributed to high consumption and easy installation. It holds a sales volume of 12,187.4 units in 2023 though, the software segment thrives on a CAGR of 11.3% between 2023 and 2033.
- The iris recognition access control segment is likely to thrive in the system type category as it thrives on a CAGR of 16% between 2023 and 2033. The growth is attributed to customized privacy options. It holds a sales volume of 2,690.5 units in 2023.
Competitive Landscape:
The key vendors work on integrating smart technologies like artificial intelligence, machine learning, and enhanced security. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Honeywell International Inc., NEC Corporation, Johnson Controls, Bosch Security and Safety Systems, Assa Abloy AB, Thales Group, STANLEY Convergent Security Solutions, Inc., 3M, Secom Co., Ltd, Dormakaba Holding AG, HID Global, Matrix Comsec Pvt. Ltd., Paxton Access Ltd.
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Recent Market Developments:
- Johnson Controls introduced its electronic access control that comes with a centralized and automated security system for managing employee and visitor access to the facilities offered. The brand has also launched its hosted access control.
- In 2022, NEC Corporation launched its biometric authentication with iris recognition technology. It has ranked first in the NIST accuracy testing.
Key Segments
By Component:
- Hardware
- Fingerprint Scanners
- Facial Recognition Devices
- Iris Scanners
- Smart Cards
- Others
- Software
- Integrated Access Control Software
- Standalone Software/Middleware
- Facial Recognition Software
- Iris Recognition Software
- Others
- Services
- Professional Services
- System Integration & Installation
- Security Consulting
- Support & Maintenance
- Managed Services
- Professional Services
By System Type:
- Fingerprint Access Control Systems
- Face Recognition Access Control Systems
- Iris Recognition Access Control Systems
- Card-Based Access Control Systems
- Others
By Industry:
- IT & Telecom
- BFSI
- Military & Defense
- Manufacturing
- Healthcare
- Transportation & Logistics
- Government
- Education
- Others
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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