DUBLIN--(BUSINESS WIRE)--The "US Access Control Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The US Access Control Market is expected to grow at a CAGR of 10.7% over the forecast period 2020 to 2025
The need for effective and authorized access to physical and logical resources due to increasing instances of crime rates is one of the factors largely attributing to the growth of the US Access Control Market. The growth of the market is also propelled by technological advancements and deployment of wireless technology in security systems and the adoption of IoT-based security systems with cloud computing platforms.
Presently, cloud-based access control and video management solutions are in trend. Each access card, fob controller, calendar permission, and technology upgrade is integrated via cloud security, so updating secure access changes are both mobile-friendly and globally scalable.
COVID-19 is putting hard security threats between nations back into the spotlight. The geopolitical rivalry between the great powers is likely to worsen as the American and Chinese economies become less interdependent. The next tier of essential skills poses risks, as well.
Key Market Trends
Healthcare Sector to Hold the Major Market Share
- Security is a crucial concern for healthcare systems that contain sensitive data, like the Electronic Patient Record (EPR). Access control is at the heart of this concern. While healthcare personnel needs access to the right information at the right time to provide the best possible care, it is also essential to ensure patient privacy. In terms of end-user applications, the healthcare sector is anticipated to encourage technological transformation within the United States. Critical health information can be connected to a duplicate medical record or an inaccurate one. This changes the patient's safety and reputation of the hospital.
- The growing number of data breaches in the United States healthcare industry is giving rise to the adoption of biometric scan software. In 2018, Qualcomm Life, ForgeRock, Sparsa, Arm, Philips, and US TrustedCare announced that they had teamed together to establish OpenMedReady," a standards body converging on ensuring that the patient data used by healthcare practitioners is correct. They indicated smartphone-based fingerprint recognition is expected to be a fundamental element in their framework as a way of matching medical data directly to patients.
- Controlling the way to private health records is a significant way of intensifying the overall security of patient data. Therefore, by assuring that only the certified and required personnel are granted access to sensitive data; thus, this decreases the risks of data breaches and theft. Multi-factor authentication, which mandates users to confirm their identities through two or more validation methods, is among the most-recommended ways a healthcare sector can use.
Increasing Crime Rates Due to Urbanization is Driving the Market
- Access control systems perform a significant role in urban security by enabling end-users to exert greater control over their areas. The most efficient way of protecting personnel and assets from theft or harm is limiting physical and virtual access to only those who can be identified and assessed. Advanced access control systems automate this process with techniques like encrypted communications, which allow authentication through credentials, biometrics, and mobile devices.
- Modem centers present a meeting point of people from diverse walks of life, having no connection with one another. Like other problems, the problem of crimes grows with the progress in urbanization. The expanding trend in urban crimes tends to disturb the peace and tranquility of the cities and make them unsafe to live in, especially for women.
- The country's urbanized regions have made impressive progress in advancing their security systems, government buildings, IT hubs, and commercial spaces. Moreover, due to the rising crime incidents in the country's urban areas, several commercial premises such as IT companies, enterprises, data centers, etc. are installing access control systems to protect personnel and data breaches and to record employees' entry and exit timings.
- Due to growing cyber and malware attacks in the urban regions, many governments and security companies are forced to heighten security features in their businesses through the deployment of biometric and RFID technologies. Thus, this is further adding to the overall growth of the US access control market.
- The United States accounts for a significant portion of the global demand for access control systems due to urbanization, as the users in the United States that are mainly targeted are the employees, who have administrative access to organizational policies, providing hackers complete access to the systems.
The US Access Control Market is highly fragmented and consists of several major players. In terms of market share, few of these companies currently dominate the market. However, these companies face immense competition from the local companies, which tend to offer effective but cheaper solutions.
Thereby, the market has been witnessing a combination of new solutions with enhanced features and declining prices. Principal players in the market are Assa Abloy AB Group, Inc., Allegion PLC, Ltd., Johnson Controls International plc, and IDEMIA Identity & Security SAS, among others.
- Feb 2020 - ASSA ABLOY has acquired Biosite, a leading solutions provider of biometric access control to the UK construction industry. The company will reinforce ASSA ABLOY's current offering within solutions for access control and will provide complementary growth opportunities.
- April 2019 - Honeywell highlighted its latest security and fire products at ISC West 2019 booth. Products, 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.
- Assa Abloy AB Group
- Allegion PLC
- Johnson Controls International plc
- IDEMIA Identity & Security SAS
- dormakaba Holding AG
- United Technologies Corporation
- Schneider Electric SE
- Bosch Security System Inc.
- Honeywell Security Group
- Stanley Black & Decker, Inc
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