1. Business

Access Control Market Poised to Surge, Projected to Reach $17.4 Billion by 2030

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[Redding, California] – The global Access Control Market is anticipated to witness robust expansion, reaching a projected value of $17.4 billion by 2030, exhibiting a commendable Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period spanning from 2023 to 2030. This surge is fueled by escalating demands for advanced access control devices, heightened safety and security concerns worldwide, and the proliferation of smart home initiatives.

The burgeoning adoption of cloud-based access control systems and wireless access controls is poised to present lucrative avenues for stakeholders within the access control market. However, the initial cost associated with deploying access control systems may pose a constraint to market growth.

Access control and authentication systems, designed to regulate unauthorized access through electronic means, are pivotal in safeguarding secured areas. These systems facilitate recognition, authentication, and authorization, ensuring comprehensive protection and security.

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A confluence of factors is propelling the growth of the access control and authentication market. These include the increasing acceptance of advanced technologies such as fingerprint recognition, face recognition, IRIS recognition, voice recognition, and smart cards. Stringent government regulations pertaining to asset safety, coupled with growing investments across various sectors including education, public services, healthcare, and banking, further bolster market growth.

Strategic collaborations among market players and the expanding penetration of access control and authentication products, notably in sectors such as hospitality, residential, commercial, government, and IT, are also contributing significantly to market expansion. Nevertheless, challenges such as the high initial costs associated with deploying biometric access control systems and a lack of awareness, particularly in developing countries, may temper market growth to some extent.

Navigating Through Pandemic Challenges

The COVID-19 pandemic, declared a global crisis by the World Health Organization in the first quarter of 2020, has indelibly altered the global landscape. Governments and enterprises have assumed new responsibilities to safeguard populations against potential infections. The pandemic has disrupted economies worldwide, compelling governments to shutter manufacturing plants, retail establishments, and international trade operations, thereby disrupting supply chains and upsetting demand-supply balances.

The pandemic has accentuated the need for contactless biometric access control devices, as traditional interaction methods pose risks of infection transmission. Market players are swiftly adapting to this paradigm shift, integrating temperature and fever detectors into access control and identification systems to comply with regulatory mandates and consumer preferences.

Charting a Resilient Path Forward

Despite the challenges posed by the pandemic, the access control and authentication sector is poised for recovery. Companies are investing in modern contactless access control technologies to mitigate contamination risks. Governments are implementing supportive policies and initiatives to revive businesses, which is expected to facilitate the resurgence of industries, including the access control and authentication market.

Key Market Insights

  • The report provides a comprehensive analysis of the global access control and authentication market, encompassing historical data (2018-2019), estimated current data (2020), and forecasts up to 2027. Market segmentation includes technology (biometrics, smart cards, electronic locks), components, applications, and geographical regions.
  • Biometrics emerged as the dominant technology segment in 2020, driven by increasing adoption in security systems and diverse applications such as border control, airports, hospitals, and residential spaces.
  • Hardware accounted for the largest share of the market in 2020, attributed to advancements in AI, IoT, and cloud computing, coupled with increasing urbanization and demand for robust access control solutions.
  • Residential and commercial applications commanded the largest market share in 2020, fueled by growing security concerns and the increasing adoption of access control devices.
  • Asia-Pacific led the global market in 2020, fueled by rapid economic growth, technological advancements, and increasing adoption of disruptive technologies such as AI and biometrics.

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Leading Players

The market is dominated by key players including Bosch Security and Safety Systems, Panasonic Corporation, Gemalto N.V., Honeywell Commercial Security, Axis Communications AB, Genetec Inc., Identiv, Inc., Suprema, Inc., Zhejiang Dahua Technology Co. Ltd., NEC Corporation, ASSA ABLOY, AMAG Technology, Inc., Johnson Controls International Plc, and Sensory, Inc.

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