Global Access Control Market 2022-2028

Global Access Control Market 2022-2028

Global Access Control Market Size, Share & Trends Analysis Report By Type (Hardware, Smart Card Readers, Biometric Readers, Multi Technology Readers and Others, Software Services), By Application(Residential, Commercial)Forecast Period (2021-2028) GLOBALACCESS CONTROL INDUSTRY OVERVIEW

The global market for access control is estimated to have significant CAGR of around 8.7% during the forecast period. The market is mainly due to growing adoption of access control systems in commercial and residential applications coupled with crime rates across the globe. Burglaries are increasing at an alarming rate supported by the fact that; according to the National Council for Home Security and Safety, an illegal entry of a building takes place every eighteen seconds in the US that adds up to about 4,800 burglary every day. Most of the burglary takes place during day time as residents are usually not at home. About 1,495,790 illegal entries of the buildings are observed in the US during the day time. The intruders are attracted mostly to the homes that are not equipped with any security systems. The access controlsystem provides a way to reduce these crimes. The access control such as smart lock detects and notifies the residents or the home owner about any abnormal behavior or about the presence of any intruders.

Segmental Outlook

The global access controlmarket is segmented based on type and application. Based on the type, the market is further classified into hardware including, smart cards and readers, biometric, and software and services. The hardware segment is projected to have considerable share in the market owing to the growing smart card reader, biometric readers controlled access control coupled with smartphone penetration across the globe. Huge number of access control companies in the market and the wide range of products offered by them has increased the adoption of security systems. Based on the application, the global access controlmarket is further segmented into residential and commercial.

Global access controlmarket to be driven by commercial applications

Among application, the commercial segment held a considerable share in the market. The access control infrastructure comprises the visitor management systems, intrusion detection systems (IDS), and video management systems (VMS), andin commercial buildings.In commercial application, the access controlsystems includes compatible and interoperable software and hardware components that include the software application and server (head-end), database, panels, door controllers, and a workstation. Moreover, the increasing crime rates in commercial industries further propels the demand of access control and further contributes in the growth of the market. However the residential segment is projected to have considerable growth due to growing smart homes projects across the globe. There is a significant growth in the demand for intelligent home security systems such as smart doorbell cameras; and smart locks. According to the alarms.org (official site of the National Council for Home Safety and Security), the global market for smart home is estimated to reach $40 billion by 2021.

Regional Outlook

Geographically, the global access controlmarket is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is estimated to have considerable market growth in the global market during the forecast period. The major countries which will have a significant market share during the forecast period are India, China, and Japan. China is expected to be the major contributor in the region. While, India will share a considerable market growth due to the rising urbanization and increasing crime rates in the country. Moreover, growing adoption of growing adoption of access control systems in small and medium enterprises and increasing digitization in the region further provide significant opportunity for growth of the access controlmarket.

North America to hold a considerable share in the global access control market

Geographically, North America is projected to hold a significant market share in the global access controlmarket. Major economies which are anticipated to contribute to the North America access controlmarket are the US and Canada. The smart cities projects includes support for a range of programs including the National Institute of Standards and Technology’s Global City Teams challenge. These programs encourage the development of smart city applications, Internet-connected access control. Moreover, increasing smartphone penetration is contributing to the growth of the wireless charging market in the US. According to our world in data, smartphone penetration was about 68% in 2015. The smartphone penetration in 2021 increased to 81% in 2015 that further provides ample opportunity to the market.

Market Players Outlook

The key players in the access control market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Assa Abloy AB, Dormakaba International Holding GmbH, Honeywell International Inc., Johnson Controls International plc, Allegion PLC and others. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market.