Access Control and Authentication Market presents strong revenue visibility in Near Future Booming at a CAGR during 2020-2030

Increasing awareness of security is increasing the adoption of biometric recognition technology, which includes face, fingerprint, IRIS, voice, and palm recognition. Border control, commercial, residential, airports, hospitals, and payment sectors use biometric recognition for security purpose. In addition, the existing market players are investing in development of biometric technology, thereby influencing the growth of this market.

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Impact of COVID-19 Pandemic on Access Control and Authentication Market-

• The emergence of COVID-19 pandemic has affected almost all industries across the globe. Due to COVID-19 outbreak, governments are forced to impose lockdown and restrictions due to which many manufacturing units were shutdown, causing disruption in the supply chains of goods.

• Biometric supply is also affected due to the COVID-19 pandemic. Biometric technology works on contact basis but due to the pandemic, the contact-less trend has developed due to which the demand reduced.
• Additionally, post pandemic to avoid the spread of COVID-19 virus, the demand for contact-based system will continue to fall.

• However, the demand for contact less biometric systems, such as iris, face, and voice recognition, will increase post pandemic.

The growth of this market can be affected negatively. The situation is changing in different ways due to emergence of COVID-19 pandemic. At present, the use of any contact based system comes with the risk of spreading COVID-19 virus. Hence, many companies have started investing and developing a contact less access control and authentication system to mitigate the risk of spreading the virus.

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Additionally, the manufacturers of access control and authentication system are understanding the new needs of the market and upgrading their current access control and authentication system with new functions. These functions include system to identify various temperatures or fever detection. Furthermore biometric voice and video calls technique are also trending. For instance, in June 2020, Naunce's Solution in collaboration with the Industrial Bank of Korea launched a voice biometric authentication for its customers.

Electronic access control, number-plate identification systems, and document readers are some of the components included in access control and authentication system. Card-based access system, radio frequency identification, and biometrics are examples of electronic based access system. Smart and proximity cards are two parts of card-based systems.

Additionally, biometric system includes fingerprint scanner face and iris recognition. Rise in criminal activities on line or on premises had increased the need or a sophisticated access control and authentication systems. Many organizations are investing in security systems due to policies imposed by governments.

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Remote diagnostics and configuration, equipment/location identification, access to network services, user authentication for remote connections and manage access, privileges, and passwords are possible for business organization with the help of access control and authentication system.

Additionally, as crimes are increasing in public bound places, such as airports, banks, ATM, and malls, the demand and need for access control and authentication system are also increasing. Concerns and regulations for safety and security are the key driving factors for the growth of this market. However, although all the access control and authentication systems ensure the safety of the organization, but also their initial investment cost is also high. The deployment, installation, and maintained of these equipment can come at a high cost.

Key Market Players Operating in the Market: ASSA ABLOY, Johnson Controls, Allegion plc, Honeywell International, Identiv, Inc., Nedap N.V., Suprema HQ, Thales Group, Bosch Security Systems, NEC Corporation

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