Access Control Market Growth, Trends, Opportunities, Segmentation and Forecast to 2027

Market Scenario:

As indicated by the new examination report Modern Access Control Market by Component (Hardware (Card-Based Readers, Biometrics Readers, Electronic Locks, and Controller/Server), and Software), Service (Installation, Maintenance, and ACaaS), Application, and Geography - Global Forecast to 2030, is projected to develop from USD 21 billion by 2030to USD 1,318 Million by 2030 growing a CAGR of 9%.

The growth in IoT, sensors technology and wireless technology are expected to have a favorable impact on the expansion of the global Access Control Market over the next couple of years. In addition, industry leaders are poised to increase investments for product development and innovation. It is anticipated to boost the growth trajectory of the market in the foreseeable future.

Most of the organizations have mandated more than one access control systems for assuring cent percent safety. An upsurge in the deployment of the technology is expected over the next few years. This, in turn, is likely to accelerate revenue creation for participants of the access control market.

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Key Players

The major players profiled in this report include Gemalto N.V. (Netherlands), ASSA ABLOY AB (Sweden), Allegion PLC (Ireland), Tyco International PLC (Ireland), NEC Corporation (Japan), Honeywell Security Group (US), Gunnebo AB (Sweden), Bosch Security Systems Inc. (Germany), Crossmatch Technologies Inc. (US), and NAPCO Security Technologies Inc. (US). These players account for 60% to 70 % of the market share together.

Access Control Market - Segmentation

By technology, the global access control market has been segmented into authentication systems, detection systems, alarm panels, communication devices, and perimeter security system. The authentication system segment is further sub-segmented into biometric, touch screen and keypads, card-based, door contacts, and intruder alarm systems. The detection system segment has been sub-segmented into glass break detector, motion detector, and door/window sensor. The perimeter security system segment is sub-segmented into free standing perimeter security and buried perimeter security.

By application, the access control market has been segmented into homeland security, commercial, industrial, and residential. The homeland security segment has been sub-segmented into defense and government buildings. The commercial segment is further sub-segmented into airports, healthcare, financial institutions, telecommunication, and stadiums.

Access Control Market - Regional Analysis

The global access control market, by region, has been segmented into Asia Pacific, North America, Europe and the Rest of the World. Asia Pacific is likely to lead the proliferation of the market owing to increasing technological implementations. The region is expected to witness developments in the IT industry which is conducive to the growth of the access control market in the foreseeable future. China, Japan, and India are presumed to revolutionize the growth trajectory of the access control market over the assessment period. North America and Europe are developed markets and are projected to exhibit rapid developments in the forthcoming years. The U.S., Canada, Germany, and the U.K. are likely to contribute significantly to the expansion of the access control market.

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