The size of the Access Controls Market was around USD 7.52 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 8.28 % to reach close to USD 11.19 Billion by the end of the forecast period.
The Access Controls market is majorly driven by the rising demand for the card-based readers' technology in the commercial vertical of the world.
Alcatraz AI, a startup working on facial authentication to create a frictionless access control, has announced the launch of a platform with customized hardware on the edge, software on-premises and in the Cloud.
The rising demand for card-based readers is the main reason for the growth of the access controls market in the mentioned forecast period. Also, the fast-evolving world calls for the use of such systems that need less human intervention and longer functioning time.
However, the concentration of the access controls market is a significant restraint to the market. Also, the unpredictable development in the market may prove to restrain the growth of the access controls market in the coming future.
This research report has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.
Among the mentioned components the card-based readers' segment is anticipated to lead the market in the forecast period. This is mainly due to the prevailing advantage of the card-based readers over biometric and electronic locks. The rising demand for smart cards with high proximity is the reason for the proposed domination of this segment in the access controls market in the forecast period.
Of the mentioned services the installation segment is anticipated to witness the highest growth rate in the forecast as mentioned earlier period. The complexity involved in the installation process is the reason for the interest of significant participants in this segment.
By geography, the access controls market is segmented as:
North America region leads the Access Controls market by both value and volume, as of 2019. The situation of all the market key players in this region is the main reason for its leading market position. However, this region is only the second-fastest growing in the world following the Asia Pacific region.
Europe is second in the lead in the market for the access control market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Access Controls market in Europe. Also, the technological supremacy of Europe and North America over the rest of the world is the vital condition which facilitates them to develop in this emerging field, creating the eye-catching performance in the market.
The Asia Pacific region is the next largest market shareholder in the year 2018, in terms of value and volume. This region is expected to be the fastest-growing regional market for Access Controls owing to the future opportunities offered in this region and interest shown from the top leading key companies in the Asia Pacific region, mainly towards India, China, and Japan which is the cause for such growth rate. The regional advantages offered this region, such as ease of setup and cheap resources, and a large number of skilled population is a significant reason for this region’s advancement in the market.
On the other hand, the Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Access Controls Market in these regions is slow-growing in nature.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Market Share Analysis
5.2 Product Benchmarking
5.3 Regional Presence
5.4 Mergers & Acquistion Landscape
5.5 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Access Control Market, by Component
6.1.1 Card-Based Readers
6.1.3 Biometric Readers
6.1.5 Electronic Locks
6.1.6 Market Size Estimations & Forecasts (2019-2024)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Access Control Market, by Service
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Access Control Market, by Vertical
6.3.1 Commercial Vertical
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2019 - 2024)
7.2.1 By Country
7.2.2 By Component
7.2.3 By Service
7.2.4 By Vertical
7.2.5 Y-o-Y Growth Rate Analysis
7.2.6 Market Attractiveness Index
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Component
7.3.3 By Service
7.3.4 By Vertical
7.3.5 Y-o-Y Growth Rate Analysis
7.3.6 Market Attractiveness Index
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Service
7.4.4 By Vertical
7.4.5 Y-o-Y Growth Rate Analysis
7.4.6 Market Attractiveness Index
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Component
7.5.3 By Service
7.5.4 By Vertical
7.5.5 Y-o-Y Growth Rate Analysis
7.5.6 Market Attractiveness Index
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Component
7.6.3 By Service
7.6.4 By Vertical
7.6.5 Y-o-Y Growth Rate Analysis
7.6.6 Market Attractiveness Index
8. Key Player Analysis
8.1 ASSA ABLOY AB
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Salto Systems K.S.
8.3 NEC Corporation
8.4 dormakaba Holding AG
8.5 Cisco Systems
8.6 Time and Data Systems International
8.7 Nedap N.V.
8.8 AMAG Technology
8.9 Cansec Systems
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures