The global access control market size is expected to reach USD 20.02 billion by 2027 backed by the growing demand for cloud-based systems and the increasing popularity of mobile access control systems amongst enterprises. Fortune Business Insights in its latest report, titled, “Access Control Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Type (DAC, MAC, RBAC), By Application (Homeland Security, Commercial, Residential, and Industrial), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 10.31 billion in 2019 and is projected to exhibit a CAGR of 8.7% between 2020 and 2027.
List of the Companies Profiled in
the Global Market for Access Control:
- Nedap N.V. (Netherlands)
- Genetec Inc. (Montreal, Canada)
- Honeywell International Inc (North Carolina, United States)
- Dots Info Systems (India) Pvt. Ltd., (Mumbai, India)
- Bosch Sicherheitssysteme GmbH (New York, United States)
- KISI Inc. (Brooklyn, NY, United States)
- HID Global Corporation (Texas, United States)
- Matrix Comsec Pvt. Ltd. (Gujrat, India)
- Enterprise Systems Corporation (Texas, United States)
- Perco (Saint Petersburg, Russia)
- Identiv, Inc. (California, United States)
- Centrify Corporation (California, United States)
- dormakaba Holding AG (Rümlang, Switzerland)
- Allegion plc (Ireland)
- Johnson Controls, Inc. (Cork, Ireland)
- ASSA ABLOY group (Stockholm, Sweden)
- Ekran System Inc. (California, United States)
- SolarWinds Worldwide, LLC. (Austin, Texas, United States)
- TED Systems, Lenexa, KS. (Lenexa, United States)
- Gemalto N.V. (Amsterdam, Netherlands)
- IMEDIA France (Courbevoie, France)
- Siemens Aktiengesellschaft (Munich, Germany)
- Mace Security International Inc. (Ohio, United States)
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REPORT COVERAGE-
The market
report includes qualitative and quantitative analysis of several factors such
as the key drivers and restraints that will impact growth. Additionally, the
report provides insights into the regional analysis that covers different
regions, contributing to the growth of the market. It includes the competitive
landscape that involves the leading companies and the adoption of strategies to
announce partnerships, introduce new products, and collaborate to further
contribute to the growth of the market between 2020 and 2027. Moreover, the
research analyst has adopted several research methodologies to extract
information about the current trends and industry developments that will drive
the market growth during the forecast period.
DRIVING FACTORS-
Increasing Demand for Mobile Access Control
Systems to Promote Growth
According to
the survey by HID Global in 2019, around 54% of businesses are likely to shift
to mobile access control systems by 2022. The growing adoption of smartphone
and mobility devices is driving the organizations to introduce enterprise
mobility access control solutions. These solutions provide increased productivity,
reduced technology overhead, and save cost and time. Furthermore, the
increasing adoption of cloud-based systems amongst enterprises is expected to
contribute to the global access control market during the forecast period.
Read Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/access-control-market-104592
COVID-19 IMPACT-
COVID-19 to Accelerate Demand for Multifactor
Authentication System
The global
IT industry has advanced its security approaches and capabilities to provide
faster responses to data thefts. The COVID-19 pandemic has proved to be the
catalyst for accelerating this growth as the growing concerns regarding
cyberattacks and phishing attacks are driving the adoption of multifactor
authentication systems amongst enterprises. This development is likely to favor
the market growth during the forecast period.
REGIONAL INSIGHTS-
North America to Remain at Forefront;
Increasing Adoption of Cloud-Computing Solutions to Favor Growth
Among all
the regions, North America is expected to remain dominant and hold the highest
position in the global access control market during the forecast period. This
dominance is attributable to the increasing adoption of cloud computing-based
systems and the presence of established players that are developing advanced
access control systems in the region between 2020 and 2027. North America stood
at USD 3.81 billion in 2019.
The market
in Asia-Pacific is expected to showcase significant growth backed by the
growing adoption of smartphones and mobile computing devices in the region.
COMPETITIVE LANDSCAPE-
Merger and Acquisition by Eminent Companies
to Expand Product Portfolio and Boost Sales Revenue
The global
access control market is fragmented by the presence of major companies focusing
on acquiring other small companies to develop advanced access control systems
to cater to the growing demand from manufacturing and industries, military and
defense, and oil & gas sector globally.
AN INDUSTRY DEVELOPMENT-
- February 2020 – ASSA ABLOY Group announced the acquisition of the United Kingdom-based solution provider, Biosite Systems Ltd. The acquisition is aimed at consolidating its position by providing innovative access control solutions to their customers.
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