Press release
Access Control Market will Record Rapid Growth, Emerging Trend, Industry Analysis till 2027 with COVID-19 Impact | Nedap N.V., Genetec Inc., Honeywell International Inc, Dots Info Systems (India) Pvt. Ltd., Bosch Sicherheitssysteme GmbH, KISI Inc., HID Gl
Access Control Market
New study report" Access Control Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2027″ has been added to Fortune Business Insights.
Market Overview:
At the beginning of a recently published report on the Access Control Market 2020-2027, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the Access Control market.
The global access control market size is expected to reach USD 20.02 billion by 2027. That the market stood at USD 10.31 billion in 2019 and is projected to exhibit a CAGR of 8.7% between 2020 and 2027.
Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2022 to 2029. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the Access Control market are revealed. The study of the Access Control market's description has been taking place during the 2022 period and the last year of the foreseen period that extends to 2027.
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List of Key Players Covered in the Access Control Market Report:
Nedap N.V.
Genetec Inc.
Honeywell International Inc
Dots Info Systems (India) Pvt. Ltd.,
Bosch Sicherheitssysteme GmbH
KISI Inc.
HID Global Corporation
Matrix Comsec Pvt. Ltd.
Enterprise Systems Corporation
Perco
Identiv, Inc.
Centrify Corporation
COVID-19 Impact:
COVID-19 to Accelerate Demand for Multifactor Authentication System
The global IT industry has advanced its security approaches and capabilities to provide faster responses to data thefts. The COVID-19 pandemic has proved to be the catalyst for accelerating this growth as the growing concerns regarding cyberattacks and phishing attacks are driving the adoption of multifactor authentication systems amongst enterprises. This development is likely to favor the market growth during the forecast period.
Access control is an efficient method that guarantees total access of the company data to its users. It provides data security to the users that enables access to valuable information and resources to the designated people while preventing data theft. Moreover, it provides access control policies and security technology to protect confidential information such as customer data for an enterprise.
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Method of Research:
Fail-safe, modern research methodologies are employed for the Access Control market analysis. An exhaustive primary and secondary research conducted on the market using robust research techniques aid in the prediction of the market size at the end of forecast period. Top-up and bottom-down approaches were maintained in the entire market study.
Drivers and Restraints:
Increasing Demand for Mobile Access Control Systems to Promote Growth
According to the survey by HID Global in 2019, around 54% of businesses are likely to shift to mobile access control systems by 2022. The growing adoption of smartphone and mobility devices is driving the organizations to introduce enterprise mobility access control solutions. These solutions provide increased productivity, reduced technology overhead, and saves cost and time. Furthermore, the increasing adoption of cloud-based systems amongst enterprises is expected to contribute to the global access control market during the forecast period.
Segmentation:
Homeland Segment Held 10.7% Market Share in 2019
The homeland segment, based on application, held a market share of about 10.7% in 2019 and is anticipated to experience significant growth during the forecast period. This is ascribable to factors such as the growing demand for advanced access control systems to prevent thefts across residential places.
Regional Insights:
North America to Remain at Forefront; Increasing Adoption of Cloud-Computing Solutions to Favor Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the global access control market during the forecast period. This dominance is attributable to the increasing adoption of cloud computing-based systems and the presence of established players that are developing advanced access control systems in the region between 2020 and 2027. North America stood at USD 3.81 billion in 2019.
The market in Asia-Pacific is expected to showcase significant growth backed by the growing adoption of smartphones and mobile computing devices in the region.
Competitive Landscape:
Merger and Acquisition by Eminent Companies to Expand Product Portfolio and Boost Sales Revenue
The global access control market is fragmented by the presence of major companies focusing on acquiring other small companies to develop advanced systems to cater to the growing demand from manufacturing and industries, military and defense, and oil & gas sector globally.
Industry Development:
February 2020 - ASSA ABLOY Group announced the acquisition of the United Kingdom-based solution provider, Biosite Systems Ltd. The acquisition is aimed at consolidating its position by providing innovative access control solutions to their customers.
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Access Control Market Analysis, Insights and Forecast, 2022-2027
North America Access Control Market Analysis, Insights and Forecast, 2022-2027
Europe Access Control Market Analysis, Insights and Forecast, 2022-2027
Asia Pacific Access Control Market Analysis, Insights and Forecast, 2022-2027
Middle East and Africa Access Control Market Analysis, Insights and Forecast, 2022-2027
Latin America Access Control Market Analysis, Insights and Forecast, 2022-2027
Market Share Analysis, By Key Players, 2022
Competition Matrix
Company Profile
Continue….
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