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Access Control And Authentication Market (COVID-19 Analysis) Benefits, Forthcoming Developments, Business Opportunities & Future Investments to 2027 | Meticulous Research Report

03-03-2021 01:42 PM CET | IT, New Media & Software

Press release from: Meticulous Research®

/ PR Agency: Meticulous Research
Access Control And Authentication Market (COVID-19 Analysis)

Meticulous Research®– a leading global market research company published a research report titled “Access Control and Authentication Market by Technology (Biometrics, Smart Card, Electronic Locks), Component, Application (Residential/Commercial, IT Telecom, BFSI, Retail, Defense, Healthcare, Manufacturing, Hospitality) – Global Forecast to 2027”.

According to this latest publication from Meticulous Research®, the access control and authentication (ACA) market is expected to grow at a CAGR of 11.2% from 2020 to reach $22.7 billion by 2027. The growth in this market is majorly attributed to the factors such as increasing demand for high-level secured access control & authentication devices, growing security concerns, increasing strategic developments among players working in ACA market, and stringent government rules & regulations. In addition, growing acceptance of smart technologies, such as voice recognition, fingerprint recognition, face recognition, and smart cards and their high adoption rate in the security devices are also expected to support the growth of this market over the coming years. However, the factors such as high initial cost for the deployment of biometric access control system and impact of COVID-19 on the access control & authentication industry has created some serious challenges for the growth of this market.

Download Free PDF Sample Copy of the Report (with covid 19 Impact Analysis): https://www.meticulousresearch.com/download-sample-report/cp_id=5097

We provide crucial, accurate, and real time market data that helps these executives to take informed decisions and deliver maximum impact. We provide Research That Revolutionizes Your Business.

The global access control and authentication market study present historical market data (2018 & 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of technology (biometrics, smart card, electronic locks & doors, magnetic strips, others), component (hardware, software, services), application (residential, commercial, government & public utilities, IT & telecom, BFSI, retail, military & defense, healthcare, manufacturing, hospitality, education), and geography. The study also evaluates industry competitors and analyzes the market at a country level.

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Scope of the Report:

Access Control and Authentication Market by Technology

Biometrics
Fingerprint Recognition
Face Recognition
IRIS Recognition
Voice Recognition
Others
Smart Card
Contact Card
Proximity Card
Electronics Locks & Doors
Magnetic Stripe

Access Control and Authentication Market by Component

Hardware
Readers
Controllers
Serial Access Controllers
IP Access Controllers
Integrated Solutions
Software
Services
Support & Maintenance
Installation & Integration

Access Control and Authentication Market by Application

Residential & Commercial
Government & Public Sector
BFSI
IT & Telecom
Retail
Healthcare
Military & Defense
Manufacturing
Hospitality
Education
Others

Access Control and Authentication Market by Geography:

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
Latin America
Middle East and Africa

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Based on technology, the ACA market is segmented into biometrics, smart card, electronic locks & doors, magnetic stripe, and others. Among these, the biometric technology segment is estimated to account for the largest share of the overall access control and authentication market in 2020, as well as projected to grow with the fastest CAGR during the forecast period. The large share of this segment is mainly attributed to the increasing adoption of biometric authentication devices, rapid technological advancements, rising acceptance & demand for access control system, and increasing investment in biometric technology. In addition, growing need for contactless biometric access control & authentication devices owing to COVID-19 pandemic is also encouraging the demand for biometric authentication devices and ultimately contributing to the rapid growth of the access control and authentication market.

Based on component, the ACA market is segmented into hardware, software, and services. The hardware segment is estimated to account for the largest share of the overall access control and authentication market in 2020, owing to the factors such as increasing adoption of access control hardware, advancements in promising technologies and their integration with access control devices, and increasing demand for high-level security. However, the services segment is expected to grow with the fastest growth rate over the coming years.

Based on application, the ACA market is segmented into residential & commercial, government & public sector, BFSI, IT & Telecom, retail, healthcare, military & defense, manufacturing, hospitality, education, and others. The residential & commercial sector is estimated to account for the largest share of the overall access control and authentication market in 2020, as well as projected to grow with the fastest CAGR during the forecast period. The large share of this segment is mainly attributed to the factors such as rapidly increasing urbanization, growing demand for high-quality security devices coupled with the growing awareness, increasing investment in smart city initiatives, and growing network infrastructure.

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Geographic Review:

Geographically, the ACA market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East &Africa. The Asia Pacific region is estimated to account for the largest share of the global access control and authentication market in 2020. The large share of this region is mainly attributed to the presence of major players along with several emerging startups; technological advancements along with high adoption of modern technologies; technological transition of different manufacturing and services industries; and high economic growth rate in the region. Moreover, high demand for ACA products & applications due to the increasing government investments for security infrastructure, particularly for BFSI and healthcare industry, is also expected to support the fastest growth of the access control and authentication technologies market in the APAC region over the forecast period.

Key Players:

The key players operating in the global access control and authentication market are Bosch Security and Safety Systems (U.S.), Panasonic Corporation (Japan), Gemalto N.V. (Netherlands), Honeywell Commercial Security (U.S.), Axis Communications AB (Sweden), Genetec Inc. (Canada), Identiv, Inc. (U.S.), Suprema, Inc. (Republic of Korea), Zhejiang Dahua Technology Co. Ltd. (China), NEC Corporation (Japan), ASSA ABLOY (Sweden), AMAG Technology, Inc. (U.S.), Johnson Controls International Plc (Ireland), and Sensory, Inc. (U.S.), among others.

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Key questions answered in the report-

Which are the high growth market segments in terms of technology, component, application, and countries?
What was the historical market for access control and authentication across the globe?
What are the market forecasts and estimates for the period 2020-2027?
What are the major drivers, restraints, opportunities, and trend in the global access control and authentication market?
Who are the major players and their share in the global access control and authentication market?
How is the competitive landscape in the global access control and authentication market?
What are the recent developments in the global access control and authentication market?
What are the different strategies adopted by the major players in the global access control and authentication market?
What are the key geographic trends and which are the high growth countries?

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Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

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