PUBLISHER: The Business Research Company | PRODUCT CODE: 1465643
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465643
An access control system serves as a security measure intended to regulate access to specific resources or areas within both physical and digital environments. It encompasses mechanisms for authenticating and authorizing individuals or entities seeking access, thereby enhancing security, ensuring compliance, and safeguarding physical and digital assets across various settings.
The primary components of access control systems include hardware, software, and services. Access control hardware comprises the physical components and devices integrated into the system, utilizing various technologies such as wireless and wired connections. End-users of these systems span across commercial, military and defense, government, residential, education, healthcare, manufacturing and industrial, transportation, and other sectors.
The access control systems market research report is one of a series of new reports from The Business Research Company that provides access control systems market statistics, including access control systems industry global market size, regional shares, competitors with a access control systems market share, detailed access control systems market segments, market trends and opportunities, and any further data you may need to thrive in the access control systems industry. This access control systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The access control systems market size has grown strongly in recent years. It will grow from $9.09 billion in 2023 to $9.90 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed during the historical period can be attributed to several factors, including the increasing awareness of home security, the rise in smart infrastructure and smart city projects, the growing availability of biometric equipment, the increasing interconnectedness of devices, and the rising adoption of access control as a service.
The access control systems market size is expected to see strong growth in the next few years. It will grow to $13.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The projected growth in the forecast period can be attributed to several key factors, including the rise in security threats, growing concerns regarding data privacy and security, increased adoption of cloud-based access control systems, rising utilization of IoT technologies, and growing demand for industrial access control systems. Major trends anticipated during this period include the emergence of artificial intelligence (AI) and machine learning (ML) technologies, continuous product innovation, technological advancements, increased demand for radio-frequency identification (RFID) card-based technology, and the expanding deployment of wireless security systems.
The rising adoption of IoT (Internet of Things) is poised to propel the expansion of the access control system market in the foreseeable future. IoT entails a network of physical objects embedded with sensors, software, and other technologies, enabling them to collect and exchange data with other devices and systems via the internet. This surge in adoption is driven by factors such as cost reduction, improvements in connectivity, and enhancements in security and privacy measures. Within access control systems, IoT technology facilitates the creation of intelligent door locking systems, harnessing interconnected devices and technologies to manage and regulate access to physical spaces, data, or networks. For instance, data from Akamai Technologies Inc., a US-based internet company, projects a notable increase in IoT connections, expected to surge from 15.1 billion in 2021 to 23.3 billion by 2025. Consequently, the escalating adoption of IoT emerges as a pivotal driver propelling the growth trajectory of the access control system market.
Leading entities within the access control system market are directing their efforts towards the development of advanced technologies, such as gateless access control systems, to cater to the growing demand for enhanced access control and security features. This technology solution leverages biometric recognition to alleviate congestion at busy entrances, incorporating face recognition technology to provide customers with advanced functionalities. For example, NEC Corporation, a Japan-based information technology company, introduced the Gateless Access Control System in November 2022. This system enables real-time authentication of a large number of individuals by utilizing camera images to detect and perform face recognition repeatedly. It facilitates the authentication of visitors without necessitating them to face a camera directly, ensuring smooth and expedited entry without imposing additional burdens on visitors. Additionally, the system boasts high-security standards, streamlined access processes, real-time monitoring capabilities, and comprehensive reporting functionalities. These features collectively position the system as a revolutionary solution within the access control domain, offering heightened security measures and alleviating congestion at busy entry points.
In April 2022, Johnson Controls International PLC, a prominent technology company headquartered in Ireland, finalized the acquisition of Security Enhancement Systems LLC (SES) for an undisclosed sum. This strategic acquisition is poised to bolster Johnson Controls' access control and security offerings, with a particular emphasis on fortifying solutions tailored for critical infrastructure applications. SES specializes in providing innovative mobile-based, keyless access control solutions designed for remote sites such as telecommunication towers and data centers. Based in the United States, Security Enhancement Systems LLC (SES) is widely recognized for its expertise in developing cutting-edge security solutions aimed at enhancing operational efficiency and security for various industries.
Major companies operating in the access control systems market are Robert Bosch GmbH, Siemens AG, Panasonic Holdings Corporation, Schneider Electric SE, Honeywell International Inc., 3M Company, Johnson Controls International Plc, NEC Corporation, Tyco International Plc, Assa Abloy AB, ADT LLC, Allegion Plc, IDEMIA, Axis Communications AB, Avigilon Corp, Southco Inc., HID Global Corp, SALTO Systems Inc., ZKTeco Co. Ltd., MorphoTrak LLC, Nortek Security & Control LLC, Kaba Ltd., Aware Inc., BIO-key International Inc., SecuGen Corporation, Digital Persona Inc., Suprema Inc., Tascent Inc.
North America was the largest region in the access control system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the access control systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the access control systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The access control system market consists of revenues earned by entities by providing services such as authentication, authorization, monitoring, access management, integration, and scalability. The market value includes the value of related goods sold by the service provider or included within the service offering. The access control system market also includes sales of access control panels, card reader tools, biometric scanners, and access cards. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Access Control Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on access control systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for access control systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The access control systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.