The Access Controls market is a fast-growing market which is majorly driven by the rising demand for the card based readers technology in the commercial vertical of the world. The market is anticipated to reach a total of USD 11.19 billion by the end of 2023 at an 8.28 % CAGR.
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.Access Controls Market Value and Growth: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.
Access Controls Market Drivers and Restraints:
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 which 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.
Access Controls Market Segmentation Analysis:
By Component
Based on the component the access controls market is categorized into Card-Based Readers, Controllers, Biometric Readers, Software, and Electronic Locks. Among the mentioned components the card-based readers' segment is anticipated o 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.
By Service
Based on the service provided the access controls market is categorized into Installation, Maintenance, and ACaaS. 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 Vertical
By vertical the commercial vertical is considered to be the largest adopter of the access controls in the market. The use of access control systems such as card-based readers is majorly in demand at enterprises & data centers, banks & financial centers, hotels, retail stores & malls, and entertainment areas. The rising demand due to the comfort it gives the users are the drivers to the growth of the commercial vertical on the scale.
Access Controls Market Geographical Analysis:
By geography, the access controls market is segmented as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. North America region leads the Access Controls market by both value and volume, as of 2018. 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 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 marketThe Asia Pacific region is the next largest market share holder 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.
Access Controls Market Key Market Players:
By the end of 2018 ASSA ABLOY AB (Sweden), Salto Systems K.S. (Spain), NEC Corporation (Japan), dormakaba Holding AG (Switzerland), Cisco Systems (US), Time and Data Systems International (UK), Nedap N.V. (Netherlands), AMAG Technology (US), Cansec Systems (Canada), Gunnebo (Sweden), Identiv, Inc. (US), Axis Communications (Sweden), Godrej & Boyce Mfg.Co. Ltd. (India), Lenel Systems International (US), Allegion plc (Ireland), Kisi Inc. (US), Johnson Controls International plc (Ireland), Suprema HQ Inc. (South Korea), Panasonic Corporation (Japan), 3M Company (US), Bosch Security Systems Inc. (US), Honeywell Security Group (US), and Gemalto N.V. (Netherlands) are the leading shareholders of the market for Access Controls. There is a constant competition between these companies regarding the pricing and quality of the product. They are currently focused on providing expansion strategies to improve their market value and position.
Access Controls Market Research Report Key Highlights:
1. Introduction
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
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
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
6.1.2 Controllers
6.1.3 Biometric Readers
6.1.4 Software
6.1.5 Electronic Locks
6.1.6 Market Size Estimations & Forecasts (2018-2023)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Access Control Market, by Service
6.2.1 Installation
6.2.2 Maintenance
6.2.3 ACaaS
6.2.4 Market Size Estimations & Forecasts (2018-2023)
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
6.3.2 Others
6.3.3 Market Size Estimations & Forecasts (2018-2023)
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 (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
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 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 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
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 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
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 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
7.6.1.1 Middle East
7.6.1.2 Africa
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
8.1.2 Products/Service
8.1.3 Financials
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
8.10 Gunnebo
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
