DUBLIN--(BUSINESS WIRE)--The "Access Control Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The access control market is expected to grow at a CAGR of over 9.8% during the forecast period 2019-2024
Acceptance of cloud-based access control and video management solutions are in trends. Each access card, fob controller, calendar permission and technology upgrade is integrated via cloud security so updating secure access changes are both mobile friendly & globally scalable. New doors, offices and users can be added to the system at any time for greater convenience with benefits provided, such as quicker installation time, automatic software updates, flexibility and mobility, managed services with increased cybersecurity.
- Deployment of wireless technology in the security system is a key driver for the market. Wireless access control sends data to system control panels via a wireless radio signal, where wireless sensors are easy to move which keep track of all sorts of unique things around the home, with real-time alerts that keep aware of what's happening. Moreover, wireless intrusion detection and prevention systems also enable protection of a wireless network by alerting the wireless network administrator in case of a security breach.
- Due to increasing crime rates globally public security is a growing challenge. Access control systems play a major role in urban security by enabling end users to exercise greater control over their domains. The most effective way of protecting personnel and assets from theft or harm is to limit physical and virtual access to only those individuals who can be identified and evaluated. Modern access control systems are automating this process with capabilities like encrypted communications, which enable authentication by credentials, biometrics, and mobile devices.
- However, due to less awareness among users about advanced security solutions and its usage in various applications, the growth of the market can be a challenge in the future.
Scope of the Report
The access control market is increasing as various types of cost-effective security systems is increasing the inclination of individuals towards its usage. Furthermore, preference for wireless as well as IoT based security systems in various applications are leading the market and coupled with rapid urbanization are factors expected to support the growth of the global access control market in the near future.
Key Market Trends
Healthcare Sector to Hold the Major Market Share
- In terms of the end-user industries, the healthcare sector is expected to drive technological transformation within the market. Critical health information can be linked to a duplicate medical record or an incorrect one. This affects patient's safety and reputation of the hospital.
- The increasing number of data breaches in the United States healthcare industry is giving rise to the adoption of biometric scan software. In 2018, Qualcomm Life, Arm, Philips, ForgeRock, Sparsa, and US TrustedCare announced that they had banded together to establish OpenMedReady, a standards body focusing on ensuring that the patient data used by healthcare practitioners is accurate. They indicated that smartphone-based fingerprint recognition will be a key element in their framework, as a means of tying medical data directly to patients.
- Controlling access to private health records is a crucial way of enhancing the overall security of patient data. Therefore, by ensuring that only the certified and essential personnel are granted access to sensitive data, the risk of data breaches reduces the risks of data breaches and theft.
- Multi-factor authentication, which mandates for users to verify their identities through two or more methods of validation is among the most-recommended approaches a healthcare sector can use.
North America to Increasing Adopt Access Control Solutions
- Due to 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 United States accounts for a significant portion of the global demand for access control systems as here the users that are mainly targeted are the employees, who have administrative access to organizational systems, providing hackers complete access to the systems. This challenge can be addressed by using a strategic IAM (Identity Access Management) strategy such as shifting from passwords to biometric authentication. The cloud-based IAM deployment models provide various benefits such as economies of scale, reduced costs, elimination of hardware deployment, and easier management. Their adoption is growing at a fast pace in comparison to the legacy on-premise deployment models.
- In July 2018, Bitglass, a leading Cloud Access Security Broker (CASB), entered into a partnership with Okta, an identity provider, to bring threat protection and real-time data security to companies moving to the cloud.
The access control market is highly fragmented with the presence of a few global players and local players in various regions across the world. These companies compete in various developed and developing markets in order to gain higher market shares. However, these companies face immense competition from the local companies which tend to offer effective but cheaper solutions making use of basic technology and components. Thereby, the market has been witnessing a combination of new solutions with enhanced features along with declining prices. Key players in the market are 3M Cogent, Inc., Hanwha Techwin Co., Ltd., Honeywell Security Group, etc.
Recent developments in the market are:
- April 2019 - Honeywell highlighted its latest security and fire products at ISC West 2019 booth, with product such as OmniAssure Touch, a new range of passive intent access control readers are compatible with Honeywell's existing security suites, including WINMAG, WIN-PAK, and Pro-Watch. Honeywell is highly focused on delivering life safety innovations that leverage connectivity to help create a smarter and safer world.
- March 2019 - NEXT biometrics partnered with UniComm, an IT security developer and integrator, which will sell its biometric access control solutions in the Russian market. NEXT's fingerprint scanning technology will help UniComm to meet its customers' demand for best-in-class solutions which help them master today's challenges and stay ahead of the curve.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Deployment of Wireless Technology in Security System to Keep Track
4.3.2 Increasing Crime Rates Due to Urbanization
4.4 Market Restraints
4.4.1 Less Awareness Among Users about Advanced Security Solutions
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
188.8.131.52 Card Readers
184.108.40.206 Biometric Readers
220.127.116.11 Electronic Locks
18.104.22.168 Multi-Technology Readers
22.214.171.124 Hardware Types
5.2 By End-user Vertical
5.2.5 Transport & Logistics
5.2.7 Military & Defense
5.2.8 Other End-user Verticals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Cogent Inc.
6.1.2 Hanwha Techwin Co, LTD.
6.1.3 Gemalto NV
6.1.4 Bosch Security System Inc.
6.1.5 Honeywell Security Group
6.1.6 Tyco Fire and Security (Johnson Controls)
6.1.7 Allegion PLC
6.1.8 Assa Abloy AB Group
6.1.9 Schneider Electric SE
6.1.10 Panasonic Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/w4mnud