Meticulous Research®—a leading global market research company, published a research report titled, ‘Access Control Market by Offering (Hardware (Biometric Devices, Electronic Locks, Others), Software (Cloud, On-premise), Services), End User (Residential, Commercial (Retail, IT & Telecom, Others), Industrial), and Geography - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the access control market is projected to reach $17.4 billion by 2030, at a CAGR of 9.6% from 2023 to 2030. Access control is a critical component of cybersecurity and physical security strategies, helping organizations protect their assets, data, and intellectual property while ensuring compliance with privacy and regulatory requirements. Effective access control requires a combination of technology, policies, and user awareness to maintain security and prevent unauthorized access. The growth of this market is driven by increasing demand for enhanced access control devices, growing safety & security concerns, and increasing smart home projects around the world. Rising inclinations toward cloud-based access control systems and the growing use of wireless access controls are expected to offer significant growth opportunities for the stakeholders in the access control market. However, the high initial cost of deploying access control systems may restrain the market's growth.
Furthermore, the low awareness of advanced security solutions in developing countries and safety & security issues are expected to challenge the growth of the access control market. Additionally, the increasing adoption of access control as a service (ACaaS), growing use of smartphones for access controls, and increasing incorporation of contactless biometric access control devices are prominent trends in the access control market.
Based on offering, the global access control market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the global access control market. The hardware segment comprises biometric devices, cards, electronic locks and doors, controllers, and hybrid devices. The large market share of this segment is attributed to the growing adoption of access control systems for safeguarding places such as offices, government buildings, airports, hospitals, and military facilities, growing urbanization, and increasing number of smart homes & apartments.
In addition, the rising deployment of access control systems for more comprehensive and efficient security solutions is expected to drive segment growth. For instance, in February 2023, San Diego International Airport (SAN) deployed Identiv’s comprehensive, end-to-end access control ecosystem, including Hirsch Velocity Software and its Velocity Vision video management system (VMS), under a single graphical user interface (GUI).
However, the services segment is projected to register the highest CAGR during the forecast period. Organizations’ growing need for visibility to diagnose and troubleshoot problems before they impact operations or end-user experiences drives the adoption of access control services. Technical support and upgradation ensure optimum utilization of access control solutions. Additionally, the increasing deployment of access control solutions and the rising demand for both pre-deployment and post-deployment services support the growth of this segment. These services are crucial for maintaining security, privacy, and compliance within an organization. Access control services typically encompass various aspects, including authentication, authorization, auditing, and monitoring.
Based on end user, the global access control market is broadly segmented into residential, commercial, and industrial. In 2023, the commercial segment is expected to account for the largest share of the global access control market. The large market share of this segment is attributed to the increasing implementation of access control systems across government facilities, the growing use of smart cards in the hospitality sector for accessing facilities, and the increased adoption of enterprise-level access control solutions.
In addition, the rising focus of end users on deployments of access control systems for office spaces to bolster secure entrances to offer maximum flexibility and easy management of systems. In August 2023, HID Global Corporation (U.S.), the worldwide leader in trusted identity solutions, partnered with Ghelamco Group (Belgium), an international real estate investor and developer, to standardize HID’s mobile and physical access control solutions across its prestigious projects in Warsaw, Poland.
Moreover, the commercial segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by growing technology development for enhanced security and the growing focus of companies operating in the market on product development to tailor the needs of commercial end users. For instance, in July 2023, Anviz Global Inc. (U.S.), an industry leader in professional and converged intelligent security solutions, launched its next-generation access control solutions powered by Open Supervised Device Protocol (OSDP) for various end users, including education, government, commercial real estate, retail, manufacturing, healthcare, and hospitality users, allowing them access to a comprehensive and integrated security control experience.
Based on geography, the global access control market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global access control market. The large market share of the region is attributed to the presence of rapidly developing economies, consistent technological advancements in access control solutions, increased use of access control systems at airports and railway stations for providing a smooth travel experience, and increasing government initiatives to implement access control to track employee attendance.
For instance, in March 2022, IDEMIA (France), the global leader in Identity technologies, announced that it is going to provide biometric solutions to facilitate the passenger experience, in particular the immigration process, to Singapore Changi Airport Terminals 1 and 2 (T1 and T2).
Moreover, Asia-Pacific is also projected to register the highest CAGR during the forecast period. The growth of this region is driven by the growing adoption of biometric recognition technology and rising technological advancement in access control systems. For instance, in November 2022, NEC Corporation (Japan), a Japanese multinational information technology and electronics corporation, developed a Gateless Access Control System using Biometric Recognition that combines NEC’s face recognition technology with person re-identification technology, which matches people even if they are facing away or their bodies are occluded, to provide fast and reliable entry control that is free from gates.
Some of the key players operating in the global access control market are Johnson Controls International plc (Ireland), Honeywell International Inc. (U.S.), Identiv, Inc. (U.S.), Suprema Inc. (South Korea), Bosch Sicherheitssysteme GmbH (Germany), Genetec Inc. (Canada), NEC Corporation (Japan), Assa Abloy (Sweden), dormakaba International Holding AG (Switzerland), Allegion plc (Ireland), Nedap N.V. (Netherlands), Thales (France), IDEMIA (France), Axis Communications AB (Sweden), and Dahua Technology Co., Ltd (China).
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5097
Key questions answered in the report:
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research