SecurityWorldMarket

07/07/2022

Access control systems market predicted to top $15B by 2027

New York, NY (USA)

The global access control system market size is expected to reach USD 15.62 billion by 2027 according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

The shift from key-based to keyless access control systems has eliminated the stress associated with key-dependent access systems, such as keys misplacement, etc. It has, furthermore, enhanced the end-user experience, as these systems are comparatively more efficient, faster processing power, and multitude options for unlocking doors (RFID, biometric, keypad, and key, all in one access system to eliminate the dependence on one type of access system), and remote accessibility.

Impelling growth

Owing to such features, access control systems are now widely installed across several industries, and the market, globally, is furthermore expected to witness impelling growth during the forecast period as well. Moreover, the desired need for enhanced security, living standards, and spending capability of the population are furthermore expected to drive the market.

Finger-vein recognition technology requires finger scanning with the use of an infrared sensor and a chargeable device, which highlights unique finger patterns in a database aiming to reduce dummy finger issues providing high security and this technology, according to Polaris, has found mass growth in sectors like attendance tracking, border control, etc.

An increase in burglaries in residential areas has led to the high demand for enhanced access systems. Besides this, increasing adoption of smartphones has been observed by the analysts, globally. Henceforth, the lack of presence of competition in the remote access control system market, in response to the increasing demand for remote access security from the end-users, poses a high growth opportunity for vendors planning on investing in the same.

Use of artificial intelligence and smart applications like biometrics and card-based access control systems add value to business ensuring high-level security with enormous indirect data collection pertaining to the employees. High-security doors mounted with intelligent PACs are being installed in areas like server room racks and cabinets, this is expected to drive market growth.

Top key players

Companies such as Honeywell International, Allegion, Avigilon, Bosch security, Johnson controls, 3M Cogent Inc., Accu-Time Systems Inc., Aware Inc., Bio-Key International Inc., Axis communications, Assa Abloy, United Technologies Corporation, Digital Persona Inc., Iris ID Systems Inc., Morphotrak LLC, NEC Corporation, and Secugen Corporation are a few of the key players operating in the access control systems market and mentioned in the research.


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