Residential Industry Vertical to Witness a High CAGR in the Smart Access Control Market in 2021
According to Custom Market Insights (CMI), The Global Smart Access Control Market size was estimated at USD 13 Billion in 2021 and is expected to hit around USD 17 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5% from 2022 to 2030.
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Our research report offers a 4.5-degree view of the Smart Access Control market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Smart Access Control market.
Smart Access Control Market: Overview
Access Control is a security measure that restricts the use of unauthorized computing system resources. There are also linkages in the logical design. Logical Smart access control connects with file systems, data, and the network device, whereas physical access control limits access to physical IT assets, buildings, and universities. The biometric or access card authentication of a person’s identity, as well as the authentication of the same with pertinent business bodies to allow access, are both parts of the access control system.
Browse the full “Smart Access Control Market Size, Trends and Insights By Type (Biometric Readers, Electronic Locks, Software, Others), By Industry Vertical (Residential, Government, Commercial, Industrial, Transport, Healthcare, Military & Defense, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/smart-access-control-market/
The emergence of advanced smart cards for a variety of applications is further fueling product demand because of their user-friendly and seamless experience. During the forecast period, factors like quickly installed Smart access control systems in the military and commercial sectors are currently boosting market growth. Additionally, due to the increased crime rates in the world, a variety of commercial establishments, including IT companies, corporations, data centers, and others, are constructing access control systems to protect employees from data breaches and to monitor staff entry and exit times, which is driving the market’s expansion.
The market for Smart access control is being driven by substantial advancements in cloud services, identity management, and smart home solutions, which are increasing demand for linked, remotely actuated Smart access control systems for homes. The rise in consumer preference for solutions that provide access control accessibility, the high adoption of IoT, and the popularity of access control systems that offer features like data-keeping, transparency, and the security and safety of office environments are all factors that have an impact on the access control market.
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The market for Smart Access Control is segmented into type and industry verticals. During the projected period, the residential sector of the global smart access control market is anticipated to expand at a faster CAGR. In order to deter intrusion and theft, access controls are being placed in residential buildings. Smart Access controls using biometric locks are becoming more prevalent in these buildings. The growing popularity of home automation is driving up demand for electrical goods. The market is expanding due to factors such as rising crime rates, ongoing technological advancements, the increased need to identify threats like fire and gas leaks, and ensuring the safety of youngsters and the elderly at home.
In 2021, North America accounted for the most significant market share. As cyber and malware attacks increase daily in this region, many governments and security organizations are driven to integrate RFID and biometric systems in their transactions to boost security applications. Therefore, during the forecast period, this key factor may propel this region’s expansion in the worldwide Smart access control market.
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On the other hand, during the course of the forecast, Asia Pacific is anticipated to have faster CAGR growth than the rest of the world. Because of the increased commercialization, industrialization, and demand for security systems. The strong demand for Smart access control systems in the Asia Pacific is projected to be aided by rising crime and terror terrorization rates in Asia Pacific nations as well as a low police officer-to-population ratio. Security systems are becoming increasingly crucial due to China’s expanding economy. The use of security systems would be influenced by the sizeable population, rising digitization investments, significant R&D, and expanding industrialization in APAC.
|Feature of the Report||Details|
|Market Size in 2021||USD 13 Billion|
|Projected Market Size in 2030||USD 17 Billion|
|CAGR Growth Rate||5% CAGR (2022-2030)|
|Prominent Players||Honeywell International Inc., Identiv, NEC Corporation, Dormakaba Holding AG, Bosch Security and Safety Systems, Johnson Controls, HID Global, Assa Abloy AB, Thales Group, 3M, Spectra Technovision (India) Pvt. Ltd., Intellicon Private, STANLEY Convergent Security Solutions Inc., Secom Co. Ltd., Paxton Access Ltd., Matrix Comsec Pvt. Ltd., BioEnable Technologies Pvt Ltd., ZKTeco India, and Others|
|Key Segment||By Type, Industry Vertical, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
By examining market segments and projecting market size, the reports also aid in understanding the dynamics and organizational structure of the global Smart access control industry. The study serves as an investor’s guide thanks to its clear depiction of competitive analysis of key companies by product, price, financial condition, product portfolio, growth plans, and regional presence in the worldwide access control market.
- Honeywell International Inc.
- NEC Corporation
- Dormakaba Holding AG
- Bosch Security and Safety Systems
- Johnson Controls
- HID Global
- Assa Abloy AB
- Thales Group
- Spectra Technovision (India) Pvt. Ltd.
- Intellicon Private
- STANLEY Convergent Security Solutions, Inc.
- Secom Co., Ltd.
- Paxton Access Ltd.
- Matrix Comsec Pvt. Ltd.
- BioEnable Technologies Pvt Ltd.
- ZKTeco India
The global Smart Access Control market is segmented as follows:
- Authentication System
- Touch Screen and Keypads
- Door Contacts
- Intruder Alarm System
- Detection System
- Homeland Security
On the basis of Geography
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America