Global Electronic Access Control System Market 2023-2030

Global Electronic Access Control System Market 2023-2030

Global Electronic Access Control System Market Size, Share & Trends Analysis Report by Authentication (Biometrics, Card-Based, Touch Screen and Keypads, Door Contacts, and Others), and by Application (Commercial, Industrial, and Residential), Forecast Period (2023-2030)

The global electronic access control system market is anticipated to grow at a considerable CAGR of 10.0% during the forecast period. The increasing popularity of electromagnetic locks and electric strikes, coupled with the increasing deployment of electronic access control systems in commercial spaces such as educational institutions and healthcare facilities, along with residential buildings. The increase in integration of such system is owing to its high accuracy, time efficiency, and convenience over alternative security technologies. According to the 2022 Health Care Trends Report from Allegion, 59% of the US hospitals are using electronic access control systems representing a 13% increase from 2016. In addition, the market growth of electronic access control systems is also constrained by a lack of awareness, higher installation costs, and inadequate infrastructure.

Another key factor propelling the growth of the electronic access control systems is the increasing instances of vandalism, public place violence, and terrorist acts in urban areas and at different educational institutions. For instance, in March 2023, a Laxmi Narayan Temple situated in Brisbane was vandalized by some activist group in Australia. Furthermore, according to the Australian Bureau of Statistics, in 2021-2022, 386,000 persons i.e. 1.9% experienced physical assault, 2.2% experienced face-to-face threatened assault, and 3.8% experienced malicious property damage.

Segmental Outlook

The global electronic access control system market is segmented based on its authentication and application. Based on the authentication, the market sub-segment into biometrics, card-based, touch screen and keypads, door contacts, and others which includes intruder alarm systems and perimeter security systems. Based on the application, the market is sub-segmented into commercial, industrial, and residential. Among the

Biometrics Sub-Segment is Anticipated to hold a Prominent Share of the Global Electronic Access Control System Market

Among authentication, the biometrics sub-segment is expected to hold a prominent share of the market. The key factor supporting the growth of the market includes rising in integration of biometrics systems in several business organization for the safety. For instance, in December 2022, Accops partnered with the Center for Development of Advanced Computing (C-DAC) to develop its facial authentication solution with continuous user environment monitoring. C-DAC is a R&D organization operates under India’s Ministry of Electronics & Information Technology (MeitY). Biometrics is technology which helps to measure people’s physical and behavioral characteristics to identify person. Such systems is primarily used to detect illegal entries in the some areas. It includes voice recognition, face recognition, fingerprint recognition, iris recognition, and other bosy parts.

Regional Outlooks

The global electronic access control system market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, North America is anticipated to grow at a considerable rate over the forecast period. Increasing security concerns, especially in education, banking and defense industry, owing to the rise in terrorist activities, and integration of IoT-based security solutions drive the market growth.

Global Electronic Access Control System Market Growth, by Region 2023-2030

Source: OMR Analysis

The North American Region is anticipated to Hold a Significant Share in the Global Electronic Access Control System Market

Among these regions, the North America region is anticipated to account for a significant share of the electronic access control system market during the forecast period. One of the main drivers of the market is the increasing number of vandalism, public place violence, and terrorist attacks, as electronic access control system provides protection from intruder, and terrorist, and improve the security of people. For instance, according to the Center for Strategic & International Studies, in 2019, only 2% of all US terrorist attacks and plots occurred at demonstrations, but this portion rose to 47% in 2020 and 53% in 2021. The government, military, and especially law enforcement were the primary targets of domestic terrorist attacks and plots in 2021, composing 43% of all attacks.

Market Players Outlook

The major companies serving the global electronic access control system market include BIO-Key International, Bosch Security Systems, Honeywell International Inc., IDEMIA, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2022, IDEX Biometrics ASA along with the TrustSEC brought biometric smart card solutions to market in response to the demand for more secure and seamless digital authentication. The partnership agreement combines the TrustSEC smart card module, including the card operating system and applets, with the IDEX Biometrics TrustedBio fingerprint sensor solution. With this collaboration, the company offers a highly secure, industry-leading authentication solution integrating the new IDEX biometric sensor with TrustSEC’s Smartcard OS “SLCOS” running on Infineon’s latest generation Secure Element chip, the SLC3.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global electronic access control system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.