SecurityWorldMarket

01/12/2021

US leads the way as global access market approaches $13 b

Northbrook, Il (USA)

The global access control market with Covid impact is expected to grow from USD 8.6 billion in 2021 to USD 13.1 billion by 2026, at a CAGR of 8.7%, according to the latest research from Marketsandmarkets.

The analysts suggest that continued adoption of Access Control as a Service (ACaaS); implementation of mobile-based access control; global proliferation of smart cities initiatives; and increasing urbanisation in emerging countries are expected to provide huge growth opportunities to the access control market players. The growth of the access control market is driven by high adoption of access control solutions owing to increasing crime rates globally; technological advancements and deployment of wireless technology in security systems; and adoption of IoT-based security systems with cloud computing platforms.

Biometric readers to witness the highest growth

Biometric technologies are used to measure different physiological parameters for identification and authentication purposes in access control systems. Within the report, the market for biometric reader-based access control systems has been further categorised into fingerprint recognition, palm recognition, iris recognition, face recognition, and voice recognition. Biometrics is one of the fastest-growing technologies used to secure perimeters. This technology enables identifying a person’s physical characteristics to provide controlled physical access to infrastructure. This technology is being increasingly used in government facilities, manufacturing units, power stations, defence establishments, and enterprises.

Commercial sector leading vertical growth

The commercial vertical is the largest end user of access control systems. In this vertical, commercial facilities such as enterprises and data centres; BFSI; retail stores and malls; and entertainment areas are considered. Manned security for all physical locations is difficult and expensive. The demand for access control systems is increasing since they reduce the need for manned security to a greater extent, thereby reducing security expenditure. These factors were found to be encouraging commercial facilities to adopt access control systems to protect people and properties by the researchers.

North America largest geographical market

North America, according to Marketsandmarkets, is more advanced than other regions in terms of the implementation of access control systems. Companies in the US, Canada, and Mexico are making efforts to enhance their expertise and develop innovative access control systems and services. This provides them with greater competitive advantage to increase their share in the region’s access control market. The growing number of cyber and malware attacks in the region has compelled several governments and security agencies to enhance security features in their transactions through the deployment of RFID and biometric technologies, which is further contributing to the overall growth of the access control market.

Major companies involved in the development and supply of access control and cited within the report include many large global players such as Dormakaba, Assa Abloy, Johnson Controls, Allegion, Honeywell, Identiv, Nedap, Suprema, Thales, Bosch, NEC, and Idemia.


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