Physical Access Control Systems Market Analysis (2023 - 2030)
During the projection period of 2022 to 2027, the global physical access control system market is projected to reach a valuation of US$ 12.7 billion, growing at a 10% CAGR.
Due to growing market competition, the physical access control market has seen extraordinary growth over the last decade. As a result, demand for contactless biometrics and smart card solutions for environmental security has skyrocketed. COVID-19, on the other hand, has inflicted a serious blow to the sector, causing supply and demand to plummet at the same time. Over the last few years, the market has been driven by a large increase in demand for access control solutions for various verticals. The epidemic, on the other hand, has slowed the market's expansion. Once end-user industries recover from the effects of the pandemic, the market is likely to regain its development momentum.
In comparison to the preceding decade, the security and controls market has changed due to significant advancements in cloud computing and access control. Web- and cloud-based solutions for cost-effectiveness, real-time analytics, quick access to data, integration with other systems and applications, data sharing internally and externally, scalability, and flexibility are all provided by emerging cloud-based technologies.
By allowing end-users to exert more control over their territories, access control systems play an important role in urban security. Limiting physical and virtual access to only those who can be identified and assessed is the most efficient approach to protecting workers and assets from theft or harm. Advanced physical access control systems use techniques like encrypted communications to automate this procedure, allowing authentication via passwords, biometrics, and mobile devices. Modern centres serve as a gathering place for people from all walks of life who have no prior acquaintance with one another. Crime, like other issues, is becoming more prevalent as the world becomes more urbanised.The growing trend in urban crimes threatens the calm and quiet of cities, making them dangerous places to live, especially for women.
Key Market Insights:
- Biometrics is one of the most rapidly evolving perimeter security technologies. Biometrics allows for regulated physical access to infrastructure by recognising a person's physical traits. Government buildings, manufacturing units, power plants, defence installations, and businesses are progressively using this technology. Furthermore, speech and facial recognition are biometrics technologies that are non-contact, non-intrusive, and simple to use. During the projection period, the demand for biometric readers will be driven by the contactless technique of identification and authentication of an individual.
- During the projected period, the residential vertical is estimated to increase at the fastest rate. Security is becoming a key worry for individuals, residential complexes, and private residential structures as theft and burglary rates rise around the world. Access control systems are utilised in smart homes to improve safety and security. Individuals can use biometric or non-biometric technologies, such as numeric codes, to get access to smart homes. Physical access control systems have become more functional as a result of recent technological advancements, giving users more flexibility and convenience. This is projected to be a major driver of the residential vertical market.
- Due to the rapid industrialization and strong demand for security systems in the area, Asia-Pacific is likely to hold the biggest market share and present an excellent potential for market growth over the projection period.The physical access control market is projected to develop due to the increased adoption of access control systems by small and medium-sized organisations, hospitality businesses, airports, ATMs, banks, residential complexes, and religious institutions. The commercial, military & defence, government, and industrial verticals drive the access control market in Asia-Pacific. In Asia-Pacific countries, rising terrorist threats and crime rates, as well as a low police-to-population ratio, are likely to drive up demand for access control systems.
- Johnson Controls' Tyco Software House C•CURE Visit Verified Identity solution was released in March 2020 to assure an enhanced visitor management procedure, minimising the risks and overheads connected with visitor data collecting and storage on site.
- Dormakaba and Everis teamed up in February 2020 to create technologies that will allow tourists to access airport security checkpoints using their own biometric facial recognition profile, rather than using an ID or boarding pass.
- Biosite (UK), one of the top producers of biometric access control solutions for the construction industry in the UK, was bought by ASSA ABLOY in February 2020. This acquisition is likely to add to the company's biometric access control product line.
MARKET SEGMENTATION
By Offering
- Hardware
- Card-based Readers
- Controllers
- Biometric Readers
- Multi-technology Readers
- Electronic Locks
- Software
- Visitor Management System
- Database and software Tools
- Services
- Installation &Integration Services
- Support & Maintenance Services
By Technology
- Keypad-based Physical Access Control Systems
- Card-based Physical Access Control Systems
- Biometric-based Physical Access Control Systems
- Fingerprint Recognition
- Face Recognition
- Voice Recognition
- Palm Recognition
- Iris Recognition
By Vertical
- Military &Defence
- Government
- Residential
- Education
- Healthcare
- Manufacturing & Industrial
- Transportation
- Commercial
- Enterprises & Data Centre
- BFSI
- Hotels, Stadiums, & Amusement Parks
- Retail Stores and Malls
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
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