Report Overview

Global Access Control Systems Market is growing with a CAGR of 7.6% and touched USD 7.25  Billion in 2020. The market is expected to reach USD 11.98 Billion by 2027.

Global Access Control Systems Market Size – Industry Trends & Forecast Report 2027

Global Access Control Systems Market is growing with a CAGR of 7.6% and touched USD 7.25  Billion in 2020. The market is expected to reach USD 11.98 Billion by 2027. Access Control is a device in which a machine grants the right to obtain information or execute a function in order to improve the protection of businesses and residences. The growth of the global access control systems market is driven by greater accuracy, time efficiency, and suitability over other security devices. Furthermore, increased privatization and global trade have influenced economies to invest in better infrastructure. However, a lack of knowledge and high upfront costs, combined with a lack of proper structure, could restrict the demand for electronic access control systems.

Source: BlueWeave Consulting

Global Access Control Systems Market Overview:

Because of increasing concerns regarding robberies, break-ins, and white-collar crimes, the global market for access control systems has been growing by leaps and bounds, fueling market demand for advanced security systems from both marketable and housing bodies. Moreover, several governments and security agencies across the world are bound to increase security features in their transactions due to increasing cyber and malware attacks. Thus, this factor is additionally contributing to the overall development of the global access control market.

Global Access Control Systems Market Forecast and Trends

Growth Drivers 

Technological Advancements

The main factors driving the market growth are increased adoption of access control solutions, technological advances, and the use of wireless technology in security systems. Moreover, the adoption of IoT-based security systems coupled with cloud computing platforms is also fueling the market's growth. The preference for wireless and IoT-based protection systems in various applications, as well as rapid urbanization, are expected to help the growth of the access control market in the near future.

Rising Security Issues

With rising security issues, key companies and people around the world are increasing their use of these solutions. The increase in violence, vandalism, and illegal interference has created a need to protect essential equipment, primary essentials in homes, as well as individual protection. The adoption of access control and mobile-based access control is expected to provide a lucrative growth opportunity for the industry. Nowadays, the use of an access control system has become critical for the protection of both employers and employees. This could save employees from any potential incidents in office buildings or any other place. The increasing demand for connected access control systems for homes that can be retrieved remotely is also accelerating access control market development.

Restraints

Lack of awareness and high upfront cost

Reasons like lack of awareness about security solutions and high costs related to it are likely to act as market limitations. The cost of purchasing a standalone access control system device, especially commercial-grade units, is relatively high. Moreover, end-users expect access control technologies to provide them with the greatest ease, protection, and assistance with regulatory issues. However, the exorbitant price remains a barrier between their desires and their actual purchases.

Impact of COVID-19 in the industry

The COVID-19 pandemic has altered the way we used to function in our everyday lives. During the pandemic, the US government declared access control and security to be part of the necessary workforce to minimize the virus's effect. Significant efforts have been made in this sector to develop new methods and strategies to halt the spread of the virus. Though Frictionless access control existed prior to the pandemic, the pandemic has accelerated the demand for frictionless access control. Following COVID-19, more prototypes that do not need a conventional card reader are entering the market. They use software that can be accessed by the mobile device location to verify their proximity to the door for hands-free access control.

Global Access Control Systems Market: By Technology Solutions

Based on technology solutions, the global access control systems market is divided into MorphoManager, Video surveillance solutions, Video Management Systems. MorphoManager used for measuring different physiological parameters for credentials and verification purposes in access control systems holds the largest market share. It provides seamless integration of biometrics and access control. The market for biometric reader-based access control systems has been further characterized into palm recognition, iris recognition, fingerprint recognition, face recognition, and voice recognition. Biometrics allows for the recognition of a person's physical features in order to provide monitored physical access to infrastructure. This technology is being progressively used in government facilities, defense establishments, manufacturing units, power stations, and enterprises.

Global Access Control Systems Market : Regional Insights

The access control systems market is geographically distributed North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific region is expected to grow with a healthy CAGR during the estimated timeframe. The growth of Asia Pacific can be attributed to the wider acceptance of various firms setting up their manufacturing plants in the region. Additionally, numerous regional as well as IT firms, including startups, have been created, which is expected to create a need for increased asset protection. Many countries, including China, Japan, and India, are experiencing a residential property revolution. The properties are also outfitted with advanced levels of biometric-enabled access control, which reduces the risk of robbery or vandalism.

Recent Developments

In April 2018, dormakaba China Ltd (Suzhou, China) completed the acquisition of the Commercial Building Physical Access Solutions (PAS) business from Beijing-based Cambaum Group.

In April 2019, Honeywell demonstrated its latest security and fire products at ISC West 2019 booth. Products, such as OmniAssure Touch, a new variety of inactive intent access control readers, are well-matched with Honeywell’s existing security suites, including WINMAG, WIN-PAK, and Pro-Watch.

Competitive landscape

Key players in Global Access Control Systems Market are Dormakaba Holding AG, Bosch Security Systems, LLC., Honeywell International Inc, Johnson Controls International plc, IDEMIA, Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd., Allegion plc, NEC Corporation, Assa Abloy AB, ZKTECO CO., LTD., and other noticeable players.

Scope of the Report

By Technology Solutions

·         MorphoManager

·         Video surveillance solutions

·         Video Management Systems

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Middle East & Africa

·         Latin America

FAQs:

1. What is the current size of Global Access Control Systems Market ?

Answer :  Global Access Control Systems Market has reached USD 7.25 billion in 2020 and is projected to reach USD 11.98 billion by 2027, growing at a CAGR of 7.6 % .

2. What are the major factors driving the growth of Global Access Control Systems Market ?

More accuracy, time efficiency, and suitability over other security products influence the growth of the market. Besides, Increasing privatization and worldwide trade have inclined the economies to invest in better infrastructure which leads to growth in the Access control systems directly.

3. Who are the key players in the Global Access Control Systems Market ?

Dormakaba Holding AG,Bosch Security Systems, LLC.,Honeywell International Inc,Johnson Controls International plc,IDEMIA,Hangzhou Hikvision Digital Technology Co., Ltd.,Zhejiang Dahua Technology Co., Ltd., Allegion plc,NEC Corporation,Assa Abloy AB,ZKTECO CO., LTD., and other prominent players.

4. Based on technology solutions, which segment accounted for the largest Access Control Systems Market?

Based on technology solutions, MorphoManager holds the largest market share.

5. Which is the dominating region in Global Access Control Systems Market?

The Asia Pacific region is expected to grow with a healthy CAGR during the estimated timeframe.