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Global Access Control Market to Reach About USD 12.6 Billion by 2027, Aided by the Growing Prevalence of Cybercrimes

According to a new report by EMR titled, ‘Global Access Control Market Report and Forecast 2022-2027’, the global access control industry attained a value of about USD 8.2 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 7.40% to reach nearly USD 12.6 billion by 2027.

North America accounts for a considerable share of the access control industry owing to the rising prevalence of cybercrimes in the region. As various small businesses and organisations are increasingly digitising their operations, the threat of cybercrimes is surging. This, in turn, is boosting the adoption of access controls like biometric scanners, facial recognition, and iris recognition and driving the market growth. Technological advancements and innovations in the United States and Canada are increasing the deployment of the latest biometrics and RFID technologies, hence bolstering the industry growth. Governments in the region are extensively deploying access control services to boost their security and prevent the leakage of confidential data, which is augmenting industry growth. With the high penetration of devices like smartphones, tablets, and laptops, among others, and the increasing interconnectedness, the use of access control is significantly surging, hence providing further impetus to the growth of the market.

Honeywell International Inc (NASDAQ: HON), one of the leading companies in the market, entered a strategic alliance with IDEMIA in February 2021 to cultivate and create an intelligent building ecosystem. The system provides an enhanced and seamless experience for both operators and occupants by deploying building management systems and biometric-based access control systems to create safer and more efficient buildings. The alliance would allow occupants to securely and easily have contactless engagement with buildings while enhancing the focus on more efficient and safer experiences. Such alliances are boosting the security of buildings, which is augmenting the growth of the access control industry.

Market Analysis by Type, End-User Vertical, and Region:

  • The industry, on the basis of type, can be segmented into card reader and access control devices, biometric readers, electronic locks, and software, among others.
  • Based on end-user vertical, the industry can be divided into commercial, residential, government, industrial, transport and logistics, healthcare, military and defence, among others.
  • The regional markets for access control include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • The increasing interconnectedness of devices, the growing security threats, and the increasing accessibility to innovative biometric equipment are propelling the market for access control.
  • The market is being aided by the rising cost-effectiveness of biometric scanners, due to which they are increasingly used in applications in the healthcare, defence, and banking industries.
  • The growing adoption of mobile access control systems due to the rising use of smartphones as security badges is driving the growth of the access control industry.
  • The increasing demand for cloud-based access control owing to their flexibility, limitless scalability, and enhanced security is augmenting the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for access control for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, end-user, and major regions of access control.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global access control market are 3M Cogent Inc., Hanwha Techwin Co., Ltd., Thales group, Honeywell International Inc, Johnson Controls, Inc., Bosch Security Systems, LLC., Allegion PLC, and Identiv, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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