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The global access control market is expected to grow from USD 8.6 billion in 2021 to USD 13.1 billion by 2026; it is expected to grow at a CAGR of 8.7% during 2021–2026

·4-min read

Continued adoption of Access Control as a Service (ACaaS); implementation of mobile-based access control; global proliferation of smart cities initiatives; and increasing urbanization in emerging countries are expected to provide huge growth opportunities to the access control market players.

New York, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Access Control Market with COVID-19 Impact by Offering, ACaaS, Vertical And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05061078/?utm_source=GNW
The growth of the access control market is driven by high adoption of access control solutions owing to increasing crime rates globally; technological advancements and deployment of wireless technology in security systems; and adoption of IoT-based security systems with cloud computing platforms.

Card-based readers are expected to lead access control hardware market during the forecast period“
Card-based readers are proven to be more reliable than biometric readers and electronic locks.Increasing requirement for smart and proximity cards to monitor and record employee activities is one of the factors driving the growth of the market for card-based readers.

Biometric readers are rapidly gaining traction worldwide owing to the growing need for security and surveillance in the private and business sectors. The adoption of voice recognition systems in BFSI is expected to fuel the growth of the market for biometric readers in the coming years.

Hosted access control as a service are expected to lead access control as a service market during the forecast period
The owner of the solutions maintains different types of hosted access control as a service software; therefore, users need not pay for the maintenance of the servers.This has been the key driving factor for the growth of the market for hosted services.

The ability of a third party to update access rights of the user saves the time and cost spent on monitoring and managing all access control activities.

APAC to be the fastest-growing market for access control during the forecast period
The growth of the access control market in APAC is attributed to rapid technological advancements, increased awareness regarding security among the masses.In the coming years, the penetration of the access control systems is expected to grow at a significant rate with the growing security concerns among public transport authorities in APAC.

APAC is one of the potential markets for access control systems with the robust presence of several companies offering security solutions in the region.

Break-up of primary participants’ profiles:
• By Company Type – Tier 1 – 49%, Tier 2 – 39%, and Tier 3 – 12%
• By Designation – C-level Executives – 42%, Directors – 58%
• By Region – North America – 40%, Europe – 30%, APAC – 19%, and RoW – 11%

Major players profiled in this report:
• ASSA ABLOY AB (Sweden)
• Johnson Controls International plc (Ireland)
• dormakaba Holding AG (Switzerland)
• Allegion plc (Ireland)
• Honeywell Security Group (US)
• Identiv, Inc. (US)
• Nedap N.V. (Netherlands)
• Suprema HQ Inc. (South Korea)
• Bosch Security Systems Inc. (US)
• Thales Group (France)

Research Coverage
This report offers detailed insights into the access control market, segmented based on offering, vertical, ACaaS Type, and region.Based on offering, the access control market has been segmented into hardware (card-based readers, biometric readers, multi-technology readers, electronic locks, controllers, and others (RFID tags, door sets, keypads, and servers); software (visitor management system; and database and software applications); and services (installation and integration; and support and maintenance).

By ACaaS Type, the access control market has been segmented into hybrid, hosted, and managed.Based on application, the access control market has been segmented into commercial (enterprise & data centers; banks & financial buildings; hotels, stadiums, and amusement parks; and retail stores & malls); military and defense; government; residential; educational, healthcare, manufacturing and industrial; and transportation.

Based on the region, the market has been segmented into North America, Europe, APAC, and RoW.

Reasons to buy the report

The report would help the market leaders/new entrants in the following ways:
1. This report segments the access control market comprehensively and provides the closest approximations of the overall and segment-based market sizes across different components, services, verticals, and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for the growth of the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes competitor ecosystem, along with product launches, mergers and acquisitions, partnerships, and contracts strategies implemented by the major players in the market.
Read the full report: https://www.reportlinker.com/p05061078/?utm_source=GNW

About Reportlinker
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