SecurityWorldMarket

12/02/2015

Access control market to reach $10.4B by 2020

Dallas, Tx

According to a new market research report just released by Marketsandmarkets based in Dallas, Texas, the access control market is expected to reach $10.4 billion by 2020, growing at a CAGR of 10.6% between 2014 and 2020.

With the increasing technological proliferation, access control products have revolutionised the entire security industry. Simple mechanical and manual locks are being replaced by access cards and biometric systems. Increasing crime rate across the globe and rising terror activities have compelled the authorities in the commercial and government space to prioritize access control, which has ultimately acted as the driving factor for the growth of the access control market. On the other hand, technological unification is another major driver that has propelled the growth of the access control market; integration of access control products with biometrics, mobile devices and cloud services are some of the examples of technological unification.

The overall access control market has been segmented based on product, application, and geography. These segments have been separately detailed in the report, entitled, "Access Control Market by Product (Cards & Readers, Biometrics, Controllers, Management Software), Application (Commercial, Residential, Military & Defense, Government, Industrial, Healthcare, Education) & By Geography – Global Forecast & Analysis to 2020".

Geographically, the access control market has been segmented into North America (U.S., Canada, and Mexico), Europe (Germany, U.K., France, and Others), APAC (China, Japan, India and Others) and Rest of the World. The APAC market accounted for a market share of ~27.4% in 2013 and is estimated to grow at a CAGR of 11.3% between 2014 and 2020. The North American region is also expected to grow at a significant CAGR of 11.1% between 2014 and 2020.

Marketsandmarkets cite some of the key players in the access control market as being, Assa Abloy AB (Sweden), Gallagher Group Ltd. (New Zealand), Cross Match Technologies (U.S.), Morpho SA (France), Honeywell Security Group (U.S.), AMAG Technologies (U.S.), Samsung Techwin Co., Ltd. (South Korea), Gemalto NV (The Netherlands), 3M Cogent, Inc. (U.S.), and NEC Corporation (Japan).



Product Suppliers
Back to top