Global Access Control Market

Access Control Market Size, Share, Growth Analysis, By Component(Hardware- Authentication System (Biometric, Card-Based), By Type(DAC, MAC), By Application(Homel, Security) - Industry Forecast 2024-2031

Report ID: SQMIG50B2019 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 105 | Figures: 76

Access Control Market Dynamics

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 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

Access Control Market size was valued at USD 8.5 billion in 2019 and is poised to grow from USD 9.18 billion in 2023 to USD 17 billion by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).

The 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. 'Johnson Controls', 'Assa Abloy AB', 'Dormakaba Holding AG', 'Allegion plc', 'Honeywell International Inc.', 'Identiv, Inc.', 'Gunnebo AB', 'Gemalto NV', 'NEC Corporation', 'Suprema Inc.', 'Bosch Sicherheitssysteme GmbH', 'Vanderbilt Industries', 'NAPCO Security Technologies, Inc.', 'ZKTECO CO., LTD.', 'STANLEY Security', 'Salto Systems S.L.', 'Paxton Access Ltd.', 'Axis Communications AB', 'Fingerprint Cards AB', 'IDEMIA'

The business sector's focus on organizational mobility practices has changed as a result of the rising use of smartphones and other mobile devices. The need for mobile technology has increased due to the dramatic shift toward business mobility. According to a 2021 HID report, 54% of organizations will switch to mobile access control systems within the next three years. One of the most well-liked items in mobile-based solutions is mobile credentials. Most authentication cards are not encrypted and can be simply duplicated. As a result, credential ecosystems built on SEO technology are becoming increasingly popular across sectors.

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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Global Access Control Market

Product ID: SQMIG50B2019