The access control market exceeds 18,545 USD. 2 million by 2031 from $10,350. 5 million in 2021 at a CAGR of 5.9% in the coming years, i.e. 2021-2031. Product presentation
New York, July 5 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Access Control Market: Segmented: By Component, By Industry, By Product & Region – Global Market Size, Share & Trends Analysis for 2019-2021 and forecast to 2031” – https://www.reportlinker.com/p06288796/?utm_source=GNW
Access control is a security measure that blocks access to unauthorized resources in any computing environment. Both logical and physical accesses are included. Most modern access control systems use a combination of servers and workstations. Servers store all system configurations and historical data, manage communications throughout the system, and provide workstations with real-time data and reports.
The global access control market is expected to project a notable CAGR of 5.9% in 2031.
Health Share, Oregon’s largest Medicaid managed care organization, notified 654,000 patients of stolen devices from its provider GridWorks. The notification was vague as to whether the laptop was encrypted or not. The patients’ names, contact information, dates of birth and Medicaid identification numbers were all on the stolen device. Such cases highlight the need to install access control systems.
Global Access Control Market: Segments
Card Reader and Access Control Segment Expected to Grow with Highest CAGR in 2021-31
Based on product, the global access control market is fragmented into card readers and access control, biometric readers, electronic locks, software and others. The biometric reader segment is expected to dominate the global access control market during the forecast period. The increasing use of this technology in manufacturing units, defense institutions, power plants, businesses and government buildings can be attributed to the reasons.
A business segment to grow with the highest CAGR in 2021-31
The global access control market is categorized based on industry into commercial, residential, government, industrial, transportation, healthcare, military & defense and others. While the commercial segment is expected to remain the dominant segment during the forecast period, the residential segment is expected to witness significant growth. The demand for connected access control systems for remotely accessible homes is growing as smart home solutions become more widely used. Rising crime rates, the need to uncover hazards such as fires and gas leaks, and the need to protect the safety of the elderly and children in the home are all contributing reasons. Such development is expected to drive the demand for access control in residential spaces over the next few years.
Increase in the number of terrorist attacks and organized crimes
During terrorist attacks and other criminal actions, access control technologies enable fast and effective reactions in real time. The commercial, government, industrial, and residential sectors all benefit from the use of smart cards, biometric devices, and electronic devices for enhanced security and authentication. To improve the safety of people and property, access control systems are also placed in highly restricted regions, nuclear reactors and organizations.
Many access control systems rely on a single type of authentication, but companies are increasingly using multi-factor authentication, a security feature that requires the user to submit two proofs of access, such as entering a PIN and swiping a card. The security of physical and digital credentials depends on a combination of various aspects.
Security and Privacy Risks from Unauthorized Access and Data Breach
The technology is introduced to provide greater security, in terms of human identity authentication, it presents several complex technical, process, people and policy challenges related to privacy and security. As biometric data is collected and processed, it is vulnerable to hacking, primarily due to rapidly evolving fraud capabilities. Researchers have demonstrated that artificial deep neural networks can be trained over time to recreate faces, or just create faces in general.
Global Access Control Market: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis
Hanwha Techwin Co Ltd
3M Cogent Inc.
Honeywell Security Group
Dormakaba Holding SA
Bosch Security Systems Inc.
Suprema HQ Inc.
Assa Abloy AB
Other top players
Global Access Control Market: Regions
The global access control market is segmented on the basis of regional analysis into five major regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. In Asia-Pacific, the access control market is expected to witness remarkable growth during the forecast period. The factors driving the growth of the Asia-Pacific access control market include growing development and increasing demand for security systems.
Impact of Covid-19 on the access control market
Globally, due to the COVID-19 pandemic, the manufacturing units of major players are highly hampered due to the global lockdown and insufficient availability of raw materials as well as the stoppage of international logistics. Due to the pandemic, several planned product launches and related developments have been postponed.
The Global Access Control Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Market Size, Share, Trends, Opportunities, YoY Growth, CAGR of Asia-Pacific Market – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
The global Access Control Market report also contains analysis on:
Access control market segments:
Military & Defense
Card reader and access control
Access control market dynamics
Access control market size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Scope and segmentation of the Access Control Market report
The value of the market size in 2021 10,350.5 million USD
Revenue projections in 2031 USD 18,545.2 million
CAGR growth rate of 5.9% from 2021 to 2031
The base year for the 2020 estimate
Quantitative Units Revenue in Million USD and CAGR from 2021 to 2031
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Segments Covered Component, Industry, Product and Region
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Major companies featured NEC Corporation, Hanwha Techwin Co Ltd, 3M Cogent Inc, Honeywell Security Group, Dormakaba Holding AG, Bosch Security Systems Inc., Gemalto NV, Suprema HQ Inc., Assa Abloy AB and other important players.
Read the full report: https://www.reportlinker.com/p06288796/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001