According to IMARC Group’s latest report, titled “Access Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global access control market reached a value of US$ 8.5 Billion in 2021. An access control system is a method of security that recognizes and authenticates the entry or exit of an authorized person into the premises. It uses a secure authentication method, such as biometric identification or proximity cards, for authorization. Due to rising security concerns, access control systems find extensive applications in data centers, hotels, offices, retail stores, entertainment stores and banks.
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The market is primarily driven by the increasing need to enhance safety and security across various residential and commercial segments. For instance, access control systems are utilized in the residential sector to prevent burglary and invasion. Besides this, the introduction of numerous technological innovations, such as contactless smart cards, is positively influencing the market growth. Moreover, with the increasing crime rates and terrorist activities, numerous commercial undertakings are installing access control systems to protect data breaches and personnel, as well as record the entry and exit time of the individuals working there. These factors are expected to provide a positive outlook for the market in the coming years. Looking forward, IMARC Group expects the market to reach US$ 13.5 Billion by 2027, exhibiting at a CAGR of 8.01% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape:
- Allegion plc
- Assa Abloy AB
- Axis Communications AB (Canon Inc.)
- Bosch Security Systems LLC
- dormakaba Holding AG
- Honeywell International Inc.
- IDEMIA, Identiv Inc.
- Johnson Controls International
- NEC Corporation (AT&T Inc.)
- Nedap N.V.
- Panasonic Corporation
- Schneider Electric SE
- Thales Group.
Key Market Segmentation:
Breakup by Component:
- Controller
- Reader
- Locks
- Software
Breakup by Type:
- Card-based
- Contact
- Contactless
- Biometric-based
- Fingerprint
- Face Recognition
- Face Recognition and Fingerprint
- Iris Recognition
- Others
Breakup by End User:
- Government
- Military and Defense
- Commercial
- Healthcare
- Manufacturing
- Transport
- Education
- Residential
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
