Physical Access Control System Market Is Likely To Witness Substantial Growth In The Forecast Period 2023-2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032.

As per the physical access control system market report by The Business Research Company, the rising adoption of electronic security systems such as biometrics is expected to propel the growth of the physical access control system market.

The global physical access control system market size grew from $8.42 billion in 2022 to $9.48 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The physical access control system market size is expected to grow to $15.2 billion in 2027 at a CAGR of 12.5%.

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Major competitors in the physical access control system market include Honeywell Commercial Security, Bosch Security and Safety Systems, Safran Security, Assa Abloy AB, Tyco, Axis Communications, Allegion plc Ltd., Aiphone Co., TKH Group NV, Avigilon Corporation, Johnson Controls International PLC., Brivo Systems LLC, United Technologies Corporation, Identiv, Secugen Corporation, and Paxton Access.

The physical access control system market is segmented -
• By Component: Hardware, Software, Services
• By Technology: Keypads-based PACs, Card-based PACs, Biometric PACs
• By End User: Banking, Financial Services and Insurance (BFSI), Healthcare, Manufacturing, Services, Communication and Media, Retail and Other Corporate, Transportation and Utilities, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the physical access control system market in 2022.

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Physical access control systems are electronic systems and services that limit the ability of individuals or vehicles to enter a protected area by authenticating and authorising them at access control points. It allows employees and contractors who work or visit a location to gain access by electronically confirming their PIV credentials.

The Table Of Content For The Physical Access Control System Market Include:
1. Executive Summary
2. Physical Access Control System Market Characteristics
3. Physical Access Control System Market Trends And Strategies
4. Physical Access Control System Market - Macro Economic Scenario
5. Physical Access Control System Market Size And Growth
6. Physical Access Control System Market Segmentation
……
26. Africa Physical Access Control System Market
27. Physical Access Control System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Physical Access Control System Market
29. Physical Access Control System Market Future Outlook And Potential Analysis
30. Appendix

The "Global Physical Access Control System Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.

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