Access Control Market: An In-Depth Look at the Current State and Future Outlook
The global access control market size was USD 8.58 Billion in 2021 and register a revenue CAGR of 7.8% over the forecast period, according to the latest analysis by Emergen Research. Rising usage of IoT-based security systems and increasing number of terror attacks and cyberattacks globally are key factors driving global access control market revenue growth.
Internet of Things (IoT) is an integrated network of interconnected devices that can communicate with one another without the need for human involvement. For communication, each device on network is given a different IP address, which are interconnected with particular sensors to carry out a task when an event triggers it. Each authorized mobile device utilizes a different IP address on the network to gain access to main controller and use intelligent locking mechanism. The primary server also has a distinctive IP address that allows for IoT communication across various elements of IoT access control ecosystem. In addition, wireless networks are used to connect these devices to mobile or software applications, hence if the system detects any malicious behavior, an alarm is generated. Through their specific IP address, authorized mobile devices can access electronic access control. Moreover, increasing usage of IoT-based security systems and advancement in sensing technology is driving market revenue growth to a greater extent.
Access control is a data security procedure that gives businesses the ability to govern who has access to their resources and data. A secure access control employs policies to makes sure users are given proper access levels.
A key element of web application security is implementation of access control, which guarantees that only appropriate users have access to appropriate resources. The procedure is essential for assisting businesses in preventing data breaches and thwarting attack methods such as buffer overflow, KRACK, on-path, and phishing attacks. An increasing number of terror attacks and cyberattacks globally is expected to propel market revenue growth to a greater extent
Some factors restraining access control market revenue growth include higher costs of installation and maintenance, access control systems, and rising concerns of security and privacy related to access control systems. These challenges can be overcome with time through continuous development and innovation of sophisticated access control systems.
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Report Scope:
Forecast Period : 2022-2030
CAGR: 7.8%
Base Year: 2021
Number of Pages: 250
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Leading Players Profiled in the Report:
HID Global Corporation, (part of ASSA ABLOY.), Honeywell International Inc., Enterprise Systems Corporation, Perco, Identiv, Inc., Centrify Corporation, dormakaba Group, Allegion plc., Johnson Controls, ASSA ABLOY, and Ekran System.
Some Key Highlights from the Report
- On 05 April 2022, Identiv, Inc. released Hirsch Velocity Software version 3.8.4. Most recent version of the company’s comprehensive security management system offers security teams thin web clients, networked global Integrated Operations (IO), and holistic data centricity throughout the system. As a result, entire Physical Access Control System (PACS) undergoes a transformation in the way data is gathered, enhancing solution’s intelligence and enabling PACS Artificial Intelligence (AI).,
- The DAC segment is expected to account for largest revenue share over the forecast period. Security access control known as a DAC allows or prohibits access to an object based on a policy established by owner group and or subjects of the object. The access rights for each piece of data are kept in Access Control Lists (ACL), while an administrator compiles a list of people to whom a user has granted access.
- The hardware segment accounted for largest revenue share in 2021, which can be attributed to an increase in demand for security and protection of people, property, and assets. A wide range of integrated solutions are available, from portable hand-held card readers to wireless lock systems and encrypted door controllers.
- The commercial segment is expected to account for largest revenue share over the forecast period. Commercial access control systems play a significant role in modern building safety requirements because they not only minimize number of physical surfaces that tenants and employees must touch on a daily basis, but also support smart building trends, by fostering frictionless workplace environments. This is expected to drive revenue growth of the market.
- The North America market is expected to account for largest revenue share over the forecast period. Government measures to stop increase in cyberattacks and data breaches and rising demand for Access Control as a Service (ACaaS) are expected to drive market revenue growth in this region.
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In conclusion, the report is designed to provide an in-depth analysis of all the key change calculation factors that replicate the decisions that trigger the change, which pushes the player’s winning position profitable on the growth curve despite massive competition in the target Access Control market.
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