Global Access Control Systems Market Drivers 2024, Forecast To 2033
17 Apr, 2024
The access control systems market has demonstrated robust growth, escalating from $9.09 billion in 2023 to $9.90 billion in 2024, reflecting a CAGR of 9.0%. This surge can be attributed to the growing emphasis on home security, the proliferation of smart infrastructure and smart city projects, increased availability of biometric equipment, growing device interconnectivity, and the rising adoption of access control as a service. Looking forward, the market is poised for substantial expansion, with projections indicating a rise to $13.31 billion in 2028, boasting a CAGR of 7.7%. Anticipated growth drivers include escalating security threats, mounting concerns regarding data privacy and security, the uptick in cloud-based access control system adoption, the proliferation of IoT, and heightened demand for industrial access control systems. Notable trends in the forecast period encompass the emergence of AI and ML technologies, product innovation, technological advancements, the demand for RFID card-based technology, and increased deployment of wireless security systems.
Global Access Control Systems Market Key Driver
The increasing adoption of IoT is expected to propel the growth of the access control system market going forward. The Internet of Things (IoT) refers to a network of physical objects embedded with sensors, software, and other technologies that enable them to collect and exchange data with other devices and systems over the internet. It arises due to cost reduction, improvements in connectivity, and improved security and privacy measures. IoT (Internet of Things) is used in access control systems to create intelligent door locking systems and leverage interconnected devices and technologies to manage and regulate access to physical spaces, data, or networks. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion IoT connections in 2025. Therefore, the increasing adoption of IoT is driving the growth of the access control system market. The market size for access control systems witnessed growth in 2023, with projections indicating further expansion in 2024 and 2028.
Get A Free Sample Of The Global Access Control Systems Market ReportGlobal Access Control Systems Market Segments
The access control systems market covered in this report is segmented –
1) By Type: Hardware, Software, Services
2) By Technology: Wireless, Wired
3) By End-User: Commercial, Military And Defense, Government, Residential, Education, Healthcare, Manufacturing And Industrial, Transportation, Other End-Users
By Geography:The regions covered in the access control systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the access control system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the access control systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Access Control Systems Market Industry Players
Robert Bosch GmbH, Siemens AG, Panasonic Holdings Corporation, Schneider Electric SE, Honeywell International Inc., 3M Company, Johnson Controls International Plc, NEC Corporation, Tyco International Plc, Assa Abloy AB, ADT LLC, Allegion Plc, IDEMIA, Axis Communications AB, Avigilon Corp, Southco Inc., HID Global Corp, SALTO Systems Inc., ZKTeco Co. Ltd., MorphoTrak LLC, Nortek Security & Control LLC, Kaba Ltd., Aware Inc., BIO-key International Inc., SecuGen Corporation, Digital Persona Inc., Suprema Inc., Tascent Inc.
Get The Full Global Access Control Systems Market ReportAccess Control Systems Market Overview
An access control system refers to a security measure designed to regulate access to certain resources or areas within a physical or digital environment. It provides mechanisms to authenticate and authorize individuals or entities seeking access. It was used to enhance security, ensure compliance, and protect both physical and digital assets in various settings.
Access Control Systems Global Market Report 2023 provides data on the global access control systems market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The access control systems market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.