Global Access Control Market to Reach US$ 13.5 Billion by 2027, Bolstered by Rising Cybersecurity Threats and Attacks

April 28, 2022

The latest report by IMARC Group, titled “Access Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global access control market size reached a value of US$ 8.5 Billion in 2021. Access control refers to a keyless entry and card access system that helps in easily managing building security. It restricts unauthorized entities from entering or accessing the facility, campus, card, and sensitive data like network, file, username, and password, thereby enhancing the security. Access control is one of the fundamental parts of the enterprise security department, which helps in protecting the perimeter and high-level data and assets. It provides proper access to employees and members and enables them to enter the right building or office without any concern of security breach. It also validates personal identity documents, verifies the authenticity of websites with a digital certificate, and keeps a check on login credentials against stored data. As a result, access control finds widespread applications in various industries such as commercial, military and defense, government, manufacturing, industrial, and transportation.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. 

Global Access Control Market Trends: 

The market is primarily driven by the increasing security concerns for data safety. The rising instances of security breaches and cyber threats are also fueling market growth. In cases of accidents and theft, access control systems allow organizations to see who accessed a specific area during the incident, thus facilitating their demand across various end-use sectors. Nowadays, the growing adoption of wireless technology and electronic devices, owing to rapid urbanization and digitization, is increasing the demand for access control. Small and medium-sized enterprises (SMEs) across the globe are making use of multi-factor authentication models that rely on biometrics, key fobs, and personal identification numbers to verify an individual’s identity. Furthermore, advancements in technology, such as the advent of artificial intelligence, machine learning, biometrics, and RFID technology, are creating positive outlook for the market. Looking forward, the market value is expected to reach US$ 13.5 Billion by 2027, exhibiting a CAGR of 8.01% during the forecast period (2022-2027).

Market Summary: 

  • Based on the component, the market has been segmented into controller, reader, locks, and software.
  • On the basis of the type, the market has been classified into card-based (contact and contactless) and biometric-based (fingerprint, face recognition, face recognition and fingerprint, iris recognition, and others).
  • The market has been categorized based on the end user into government, military and defense, commercial, healthcare, manufacturing, transport, education, residential, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being 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 and Thales Group.

 

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Global Access Control Market to Reach US$ 13.5 Billion by 2027, Bolstered by Rising Cybersecurity Threats and Attacks
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