Fact.MR Has Projected Over 8% CAGR For Electronic Access Control System Sales During 2021-2031

Historically from 2016 to 2020, use of electronic access control system increased at around 7.5% CAGR, wherein, developed countries such as the U.S., Canada, Germany, and the U.K. held significant share in the global market.
The market consists of identity verification systems, intruder alerts, and peripheral security systems. Demand for these systems shrunk to an all-time low in Q2 and Q3 of FY2020, but has recovered after the recession and is anticipated to show promising growth over the medium-run. Growth recuperation is anticipated to be observed due to the restoration of commercial projects and technological advancements in the field.

Access control systems are widely utilized in various fields, ranging from commercial sector to defense. Compared with the market for intruder alerts and peripheral security systems, the market for identity verification systems is expected to surge at 9% CAGR due to increasing global focus on security and expansion of security budgets.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:https://www.factmr.com/connectus/sample?flag=S&rep_id=287

𝗪𝗶𝗹𝗹 𝗦𝗮𝗹𝗲𝘀 𝗼𝗳 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 𝗔𝗰𝗰𝗲𝘀𝘀 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 𝗚𝗮𝗶𝗻 𝗧𝗿𝗮𝗰𝘁𝗶𝗼𝗻 𝗗𝘂𝗲 𝘁𝗼 𝗥𝗮𝗽𝗶𝗱 𝗨𝗿𝗯𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻?

More than 45% of the population across the globe is living in urban areas. Rising awareness of comfortable and smart living leads to increase the construction of residential and commercial buildings.
Globally, several governments are focusing on urbanization by starting projects on smart city and infrastructure development. Developing countries such as China and India are witnessing rapid growth in the construction of residential buildings, owing to high population volume and increasing migrating to cities.

Considering all these factors, requirement for electronic access control systems is growing with rapid urbanization across the globe. By 2031, sales of electronic access control systems are expected to top US$ 8.9 Bn just in the residential sector.

𝗪𝗵𝘆 𝗶𝘀 𝘁𝗵𝗲 𝗨.𝗦. 𝗠𝗮𝗿𝗸𝗲𝘁 𝗳𝗼𝗿 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 𝗔𝗰𝗰𝗲𝘀𝘀 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 𝗦𝘁𝗶𝗹𝗹 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗢𝘃𝗲𝗿 𝟰% 𝗔𝗻𝗻𝘂𝗮𝗹𝗹𝘆 𝗘𝘃𝗲𝗻 𝗔𝗳𝘁𝗲𝗿 𝗥𝗲𝗮𝗰𝗵𝗶𝗻𝗴 𝗠𝗮𝘁𝘂𝗿𝗶𝘁𝘆?

Being one of the most developed country, the U.S. is a key player in electronic access control systems, globally. The market in the U.S. grew 4.3% from 2016-2020.
Rapid product developments in the country along with several government policies is anticipated to bolster demand for electronic access control systems, at a CAGR of 6% over the long-run forecast period.
Besides, busy lifestyle of people in the country looking for high security requirement in the workplace as well as personal places has provided lucrative growth for electronic access control system manufacturers.

𝗛𝗼𝘄 𝗛𝗮𝘀 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗟𝗲𝗱 𝘁𝗼 𝗮𝗻 𝗨𝗽𝘀𝘂𝗿𝗴𝗲 𝗶𝗻 𝗦𝗮𝗹𝗲𝘀 𝗼𝗳 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 𝗔𝗰𝗰𝗲𝘀𝘀 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗦𝘆𝘀𝘁𝗲𝗺𝘀?

The COVID-19 pandemic hampered market growth of electronic access control systems due to shut down of construction activities and decrease in disposable income. In the pre COVID-era, sales of electronic access control systems mounted to over US$ 1.4 Bn every year till 2019. But the scenario changed due to the pandemic, and sales reduced to US$ 850 Mn in 2020.
With sudden hike in demand from the last quarter of 2020, sales of electronic access control systems stared increasing at a high pace. Although, frequency of distribution faces challenges due to supply chain disruptions across the globe.
Reopening of the markets has provided prosperous growth to electronic access system manufacturers. Post recovery, the market is anticipated to reach a valuation of US$ 12.1 Bn by 2021-end.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:https://www.factmr.com/connectus/sample?flag=RC&rep_id=287

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks. Some of the key developments are:
• In January, 2020 Panasonic develops multifunctional secure IC that protects critical data on industrial IoT devices. Additionally, the company discloses that it will provide wireless interface function equipped with NFC.
• In 2020, Honeywell launches a software named WIN-PAK 4.8 that provide cost effective way to manage and integrate access control, intrusion detection and video surveillance through a single interface. The software can be scaled from single site to multiple without placing restriction on other users.
Similarly, recent developments related to companies manufacturing electronic access control system have been tracked by the team at Fact.MR, which are available in the full report.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱

By Technology
• Biometrics Electronic Access Control Systems
• Card-based Electronic Access Control Systems
• Keypad Electronic Access Control Systems
• Intruder Alarm Electronic Access Control Systems
• Perimeter Security Electronic Access Control Systems

By End User
• Electronic Access Control Systems for Government & Defense
• Electronic Access Control Systems for Commercial & Institutional Use
• Industrial Electronic Access Control Systems
• Residential Electronic Access Control Systems

𝗙𝗼𝗿 𝗠𝗼𝗿𝗲 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀:

https://www.prnewswire.com/news-releases/physical-access-control-system-pacs-market-will-surpass-us-19-6-bn-by-2031-sales-of-biometric-pacs-to-grow-by-9-cagr-301426612.html

https://www.prnewswire.com/news-releases/consumer-preference-for-bio-based-skin-care-positions-personal-care-active-ingredients-market-to-surpass-us-3-1-bn-by-2031--301428236.html

https://www.prnewswire.com/news-releases/low-voltage-motors-market-growth-to-nearly-double-amid-surging-application-in-automotive-and-hvac-systems-301429098.html

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