USD 8.5 billion
Report ID: SQMIG50B2019 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 105 | Figures: 76
Access Control Market size was valued at USD 8.5 billion in 2021 and is poised to grow from USD 9.18 billion in 2022 to USD 17 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).
The perimeter, high-level data, and assets are all protected by the access control system, which has evolved into one of the core components of enterprise security departments. There is little doubt that this system demand is progressing and changing quickly across sectors. The main drivers of the system need for increased security are increased liability, a new source of risks, and obligatory compliance. It prevents unauthorised parties from using the facilities or accessing them. The access control market demand is projected to be fueled by the security industry's fast transformation brought on by the introduction of cloud computing and wireless access facilities. The demand for physical security will also be fueled by the growing number of smart infrastructure projects, including smart houses, and buildings.
US Access Control Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.5 billion
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The Global Access Control Market is segmented based on the Component, Type, Application and Region. Based on the Component, the Global Access Control Market is segmented as Hardware- Authentication System (Biometric, Card-Based, Touch Screen and Keypads, Door Contacts, Intruder Alarm System) and Detection System (Motion Detector, Glass Break Detector, Door / Window Sensor ), Software, Services (Training and Consulting, Installation and Integration, Maintenance and Support). Based on the Type, the Global Access Control Market is segmented as DAC, MAC and RBAC. Based on the Application, the Global Access Control Market is segmented as Homeland Security, Commercial, Residential and Industrial. Based on Region Access Control Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Access Control Market Analysis by Type
The adoption of a DAC system is the primary factor fueling this market's expansion. The system is becoming increasingly popular on the market as a result of its advantages, including data security, increased effectiveness, quick authentication, and reduced cost. The availability of adaptable DAC solutions will probably boost market expansion.
One of the most secure systems with a substantial market share is the MAC system. This technology offers the apps many levels of security. As a result, the MAC system is widely used in the most important applications, including those involving military secrets and other sensitive information.
RBAC would increase significantly throughout the course of the prediction. The demand for the RBAC system is primarily driven by an improved security model at a cheaper price.
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With USD 3.81 billion in sales in 2021, North America topped the world market. Significant investment in wireless networks and security solutions is credited with this supremacy. The need for wireless access management systems is increasing as a result of the established surveillance infrastructure. Due to widespread smartphone use in the country, a mobile access management system is required. The industry is also expanding as a result of widespread usage of cloud computing and IoT-based solutions. In addition, the market expansion is predicted to be aided by the presence of many significant players in North America, including Genetec Inc., Honeywell International Inc., and Identiv, Inc.
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Access Control Market Driver
Growing Proliferation of Multifactor and Multimodal Authentication to Transform Access Control System’s Landscape
A critical component of digital access is evolving into the multifactor and multimodal authentication system. With the rise in security requirements, multifactor authentication is receiving a lot of attention. Physical security based on a two-factor authentication system is crucial in a variety of sectors, including the oil and gas, utility, electricity, and other vital infrastructure. Customers in the business sector that require a high level of security are becoming more and more familiar with the multifactor authentication method. The need for a two-factor authentication system has grown as a result of the introduction of multimodal readers that enable pin-pad, mobile, biometrics, and key cards all in one device. The system's high level of security and ease of network access go hand in hand.
Access Control Market Restraint
High Initial Setup Cost
There are several access control technology choices with a wide range of features and advantages. Smart cards, keypads, biometric systems, and smartphone systems are only a few examples of systems displaying their price variation. Systems using physical keys-based locks may not have large costs. However, changing or rekeying the locks might result in large additional costs. Additionally, adding additional protection layers may increase the system's overall cost. Due to the additional degree of protection and functionality they provide, these systems—which include biometrics, card-based systems, intercom or buzzer systems, and others—have a greater initial cost. High system costs might therefore have an impact on adoption as a whole.
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The Global Access Control market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Access Control Market Top Player's Company Profiles
Access Control Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Access Control Market Analysis, the market demand is projected to be fueled by the security industry's fast transformation brought on by the introduction of cloud computing and wireless access facilities. The demand for physical security will also be fueled by the growing number of smart infrastructure projects, including smart houses, buildings, and buildings. New prospects for cutting-edge technology are being created by the expanding use of wireless security systems, rising crime rates, and the rising use of cloud computing platforms.
|Market size value in 2021||USD 8.5 billion|
|Market size value in 2030||USD 17 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Access Control Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Access Control Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Access Control Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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The three major types of Access control systems are:Discretionary Access Control (DAC), Role Based Access Control (RBAC), and Mandatory Access Control (MAC).
High initial cost setup is the major challenge for acees control market
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