DUBLIN--(BUSINESS WIRE)--The "Access Control Market by Component (Hardware Card-Based Readers, Biometric Readers, Electronic Locks, Controllers, and Software), Service (Installation, Maintenance, & ACaaS), Vertical, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The access control market is expected to grow from USD 7.5 billion in 2018 to USD 12.1 billion by 2024, at a CAGR of 8.24% from 2018 to 2024.
The growth of this market is mainly 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.
The adoption of access control as a service (ACaaS); implementation of mobile-based access control; and increasing urbanization in emerging countries are the major opportunities for the growth of the access control market. However, high cost and perception of unreliability restrain the market's growth.
Residential vertical to hold significant share of access control market by 2024
The access control market for the residential vertical is expected to grow at the highest CAGR from 2018 to 2024. In smart homes, access control systems are used to enhance security.
The key factors contributing to the growth of this market include the rise in crime rates, ongoing technological advancements, increasing need for hazards detection such as fire and gas leaks, and ensuring the safety of children at home. The growing smart home market will lead the demand for access control solutions in the residential sector.
North America to be largest access control market by 2024
North America is expected to hold the largest share of the access control market during the forecast period. Increasing cyber and malware attacks in the region have compelled several governments and security agencies to enhance security features in their transactions through the deployment of RFID and biometric technologies, which is further contributing to the overall growth of access control market. The presence of key players is another key factor for the growth of the access control market in this region.
Major Players Profiled
- 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)
- Gemalto N.V. (Netherlands)
Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Markets Segmentation
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.3 Market Size Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Access Control Market
4.2 Access Control Market, By Component and Service
4.3 Access Control Market in North America, Vertical and Country
4.4 Access Control Market, By Country
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 High Adoption of Access Control Solutions Owing to Increasing Crime Rates Globally
5.1.1.2 Technological Advancements and Deployment of Wireless Technology in Security Systems
5.1.1.3 Adoption of IoT-Based Security Systems With Cloud Computing Platforms
5.1.2 Restraints
5.1.2.1 High Cost and Perception of Unreliability
5.1.2.2 Less Awareness Among Users About Advanced Security Solutions
5.1.3 Opportunities
5.1.3.1 Adoption of Access Control as a Service (ACaaS)
5.1.3.2 Implementation of Mobile-Based Access Control
5.1.3.3 Increasing Urbanization in Emerging Countries
5.1.4 Challenges
5.1.4.1 Security Concerns Related to Unauthorized Access and Data Breach in Access Control Environment
5.2 Value Chain Analysis
6 Access Control Models (Qualitative)
6.1 Introduction
6.2 Discretionary Access Control (DAC)
6.3 Mandatory Access Control (MAC)
6.4 Role-Based Access Control (RBAC)
7 Access Control Systems (Qualitative)
7.1 Introduction
7.2 Physical Access Control
7.3 Electronic Access Control
7.4 Logical Access Control
7.5 Network Access Control
7.6 Mobile Access Control
8 Access Control Market, By Component and Service
8.1 Introduction
8.2 Hardware Components
8.3 Software (Management System and Others)
8.4 Services
9 Access Control as A Service Market
9.1 Introduction
9.2 Access Control as A Service (ACaaS)
10 Access Control Market, By Vertical
10.1 Introduction
10.2 Commercial
10.3 Military & Defense
10.4 Governmental
10.5 Residential
10.6 Education
10.7 Healthcare
10.8 Manufacturing and Industrial
10.9 Transportation
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 APAC
11.5 RoW
12 Competitive Landscape
12.1 Overview
12.2 Market Player Ranking Analysis
12.3 Competitive Leadership Mapping
12.4 Strength of Product Portfolio (25 Companies)
12.5 Business Strategy Excellence (25 Companies)
12.6 Competitive Scenario
12.7 Competitive Situations & Trends
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Assa Abloy AB
13.2.2 Dormakaba Holding AG
13.2.3 Johnson Controls International PLC
13.2.4 Allegion PLC
13.2.5 Honeywell Security Group
13.2.6 Identiv Inc.
13.2.7 Nedap N.V.
13.2.8 Suprema HQ Inc.
13.2.9 Bosch Security Systems Inc.
13.2.10 Gemlato N.V.
13.3 Other Companies
13.3.1 Amag Technology Inc.
13.3.2 Axis Communications AB
13.3.3 Gunnebo AB
13.3.4 NEC Corporation
13.3.5 Gallagher Group Limited
13.3.6 Adman Technologies Pvt. Ltd.
13.3.7 Brivo Inc.
13.3.8 Salto Systems S.L.
13.3.9 Idemia
13.3.10 Vanderbilt Industries
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