Access Control Market to Reach USD 20.02 billion by 2027; Growing Demand for Cloud-based Systems to Stimulate Growth: Fortune Business Insights™

Pune, India, March 04, 2021 (GLOBE NEWSWIRE) -- The global access control market size is expected to reach USD 20.02 billion by 2027 backed by the growing demand for cloud-based systems and the increasing popularity of mobile access control systems amongst enterprises. Fortune Business Insights in its latest report, titled, “Access Control Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Type (DAC, MAC, RBAC), By Application (Homeland Security, Commercial, Residential, and Industrial), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 10.31 billion in 2019 and is projected to exhibit a CAGR of 8.7% between 2020 and 2027.

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COVID-19 to Accelerate Demand for Multifactor Authentication System

The global IT industry has advanced its security approaches and capabilities to provide faster responses to data thefts. The COVID-19 pandemic has proved to be the catalyst for accelerating this growth as the growing concerns regarding cyberattacks and phishing attacks are driving the adoption of multifactor authentication systems amongst enterprises. This development is likely to favor the market growth during the forecast period.

Access control is an efficient method that guarantees total access of the company data to its users. It provides data security to the users that enables access to valuable information and resources to the designated people while preventing data theft. Moreover, it provides access control policies and security technology to protect confidential information such as customer data for an enterprise.


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What does the Report Include?

The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS

Increasing Demand for Mobile Access Control Systems to Promote Growth

According to the survey by HID Global in 2019, around 54% of businesses are likely to shift to mobile access control systems by 2022. The growing adoption of smartphone and mobility devices is driving the organizations to introduce enterprise mobility access control solutions. These solutions provide increased productivity, reduced technology overhead, and saves cost and time. Furthermore, the increasing adoption of cloud-based systems amongst enterprises is expected to contribute to the global access control market during the forecast period.

SEGMENTATION

Homeland Segment Held 10.7% Market Share in 2019

The homeland segment, based on application, held a market share of about 10.7% in 2019 and is anticipated to experience significant growth during the forecast period. This is ascribable to factors such as the growing demand for advanced access control systems to prevent thefts across residential places.


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REGIONAL INSIGHTS

North America to Remain at Forefront; Increasing Adoption of Cloud-Computing Solutions to Favor Growth

Among all the regions, North America is expected to remain dominant and hold the highest position in the global access control market during the forecast period. This dominance is attributable to the increasing adoption of cloud computing-based systems and the presence of established players that are developing advanced access control systems in the region between 2020 and 2027. North America stood at USD 3.81 billion in 2019.

The market in Asia-Pacific is expected to showcase significant growth backed by the growing adoption of smartphones and mobile computing devices in the region.

COMPETITIVE LANDSCAPE

Merger and Acquisition by Eminent Companies to Expand Product Portfolio and Boost Sales Revenue

The global access control market is fragmented by the presence of major companies focusing on acquiring other small companies to develop advanced systems to cater to the growing demand from manufacturing and industries, military and defense, and oil & gas sector globally.

Industry Development:

  • February 2020 – ASSA ABLOY Group announced the acquisition of the United Kingdom-based solution provider, Biosite Systems Ltd. The acquisition is aimed at consolidating its position by providing innovative access control solutions to their customers.

List of the Companies Profiled in the Global Access Control Market:

  • Nedap N.V. (Netherlands)
  • Genetec Inc. (Montreal, Canada)
  • Honeywell International Inc (North Carolina, United States)
  • Dots Info Systems (India) Pvt. Ltd., (Mumbai, India)
  • Bosch Sicherheitssysteme GmbH (New York, United States)
  • KISI Inc. (Brooklyn, NY, United States)
  • HID Global Corporation (Texas, United States)
  • Matrix Comsec Pvt. Ltd. (Gujrat, India)
  • Enterprise Systems Corporation (Texas, United States)
  • Perco (Saint Petersburg, Russia)
  • Identiv, Inc. (California, United States)
  • Centrify Corporation (California, United States)
  • dormakaba Holding AG (Rümlang, Switzerland)
  • Allegion plc (Ireland)
  • Johnson Controls, Inc. (Cork, Ireland)
  • ASSA ABLOY group (Stockholm, Sweden)
  • Ekran System Inc. (California, United States)
  • SolarWinds Worldwide, LLC. (Austin, Texas, United States)
  • TED Systems, Lenexa, KS. (Lenexa, United States)
  • Gemalto N.V. (Amsterdam, Netherlands)
  • IMEDIA France (Courbevoie, France)
  • Siemens Aktiengesellschaft (Munich, Germany)
  • Mace Security International Inc. (Ohio, United States)


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Major Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • PESTLE Analysis
    • Porter’s Five Force Analysis
    • Ecosystem Analysis 
    • Global Market Share Analysis and Matrix, 2019
  • Key Market Insights and Strategic Recommendations
  • Profiles of Key Players (Would be provided for 10 players only)
    • Overview
      • Key Management
      • Headquarters etc
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Primary Interview Responses
  • Annexure / Appendix
    • Global Access Control Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
      • By Component (Value)
        • Hardware
          • Authentication System
            • Biometric
            • Card Based
            • Touch Screen and Keypads
            • Door Contacts
            • Intruder Alarm System
          • Detection System
            • Motion Detector
            • Glass Break Detector
            • Door / Window Sensor
        • Software
        • Services
          • Training and Consulting
          • Installation and Integration
          • Maintenance and Support
      • By Access Control Type (Value)
        • Discretionary Access Control (DAC)
        • Mandatory Access Control (MAC)
        • Role-Based Access Control (RBAC) 
      • By Application (Value)
        • Homeland Security
        • Commercial
        • Residential
        • Industrial
      • By Region (Value)
        • North America
        • South America
        • Europe
        • Middle East & Africa
        • Asia Pacific


TOC Continued..


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