Access Control Market Worth US$ 14.5 Billion To 2023-2028 - Exclusive Report by IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Access Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global access control market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the access control market?

The global access control market size reached US$ 9.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028. 

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What is Access Control?

Access control refers to a keyless entry and card access system that helps in easily managing building security. It restricts unauthorized entities from entering or accessing the facility, campus, card, and sensitive data like network, file, username, and password, thereby enhancing the security. Access control is one of the fundamental parts of the enterprise security department, which helps in protecting the perimeter and high-level data and assets. It provides proper access to employees and members and enables them to enter the right building or office without any concern of security breach. It also validates personal identity documents, verifies the authenticity of websites with a digital certificate, and keeps a check on login credentials against stored data. As a result, access control finds widespread applications in various industries such as commercial, military and defense, government, manufacturing, industrial, and transportation.

What are the growth prospects and trends in the access control industry?

The market is primarily driven by the increasing security concerns for data safety. The rising instances of security breaches and cyber threats are also fueling market growth. In cases of accidents and theft, access control systems allow organizations to see who accessed a specific area during the incident, thus facilitating their demand across various end-use sectors. Nowadays, the growing adoption of wireless technology and electronic devices, owing to rapid urbanization and digitization, is increasing the demand for access control. Small and medium-sized enterprises (SMEs) across the globe are making use of multi-factor authentication models that rely on biometrics, key fobs, and personal identification numbers to verify an individual's identity. Furthermore, advancements in technology, such as the advent of artificial intelligence, machine learning, biometrics, and RFID technology, are creating positive outlook for the market.

Who are the key players operating in the industry?

The report covers the major market players including: 

Allegion plc
Assa Abloy AB
Axis Communications AB (Canon Inc.)
Bosch Security Systems LLC
dormakaba Holding AG
Honeywell International Inc.
IDEMIA, Identiv Inc.
Johnson Controls International
NEC Corporation (AT&T Inc.)
Nedap N.V.
Panasonic Corporation
Schneider Electric SE
Thales Group.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

Controller
Reader
Locks
Software

Breakup by Type:

Card-based
Contact
Contactless
Biometric-based
Fingerprint
Face Recognition
Face Recognition and Fingerprint
Iris Recognition
Others

Breakup by End User:

Government
Military and Defense
Commercial
Healthcare
Manufacturing
Transport
Education
Residential
Others

Breakup by Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Key Highlights of the Report:                                                           

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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