SecurityWorldMarket

16/07/2021

Contactless biometrics help drive access control market

Dubai, U.A.E

According to newly released data on the access control market analysis by Future Market Insights (FMI), the market will grow at a CAGR of 12.6% from 2021-2031, with revenue totaling US$ 15,371.0 Mn by the end of 2021.

Growth has been attributed to rapid technological advancements in the IT & telecom industry. Advanced technologies have become essential in improving economic competitiveness, thereby propelling market growth.

The rapidly growing usage of mobile devices has shifted the focus of corporate sectors towards enterprise mobility practices. The major types of smartphone door access control systems include IP systems, control panel systems, and mobile access credentials.

Mobile based credentials

The use of mobile-based credentials is the organic evolution from conventional physical security in the access control industry. Mobile credentials offer superior security and convenience. Smartphone access encompassed with cloud-based systems make such solutions an economical choice for long-term applications, although local systems only require one-time investments.

Some of the key takeaways from the Future Market Insights access control market study include the findings that iris recognition technology in access control systems will witness the highest growth rate at over 16%, due to investments into new biometric security solutions through 2031. Additionally, the healthcare sector is anticipated to capture the largest share of 19.8% in 2021, backed-up by security concerns in healthcare facilities associated with the use of EMR.

UK and Japan to see high growth

Geographically, the U.S. is expected to remain dominant in North America with a 84.5% share in 2021, supported by faster access to tech developments in end use verticals. The market in Japan is expected to progress at a noteworthy CAGR of close to 17% through 2031, supported by a tech-driven economy. An in the U.K., sales are expected to increase at a CAGR of more than 15% over the next ten years, driven by favorable government investments and policies.

“Access control systems have become a fundamental part of enterprise security departments for applications including the protection of perimeter and high-level data and assets. Frequently changing sources of threats, mandatory compliance, and increased liability issues are the key elements fuelling the demand for access control systems for enhancing security,” says the FMI analyst.

Covid-19 impact

Unsurprisingly, the Covid-19 pandemic has impacted every sector with social distancing norms pushing organisations towards digitalisation to ensure data and asset safety. Businesses that invested in digital transformation initiatives in the past have proved to be more resilient during the crisis.

The outbreak of the Covid-19 virus has presented a challenge to communities and businesses, where the use of physical security systems has become more than a means to prevent criminal activity.

Part of the new post-Covid-19 normal is managing a location’s occupancy levels to ensure social distancing or allowing hands-free entrance. The demand for access control systems is projected to further continue to rising with a rapid shift towards enhanced verification systems and digital identity management. Consequently, the access control market is estimated to grow around 7.6% to 10.8% Y-o-Y from 2019 to 2021.


Tags

Product Suppliers
Back to top