DUBLIN--(BUSINESS WIRE)--The "US Access Control Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The US Access Control Market is expected to grow at a CAGR of 10.7% during the forecast period (2021 - 2026)
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.
Card-based readers are certified to be more secure than biometric readers and electronic locks. Smartcards are proven to be more authentic than magnetic stripes and proximity cards. The growing demand for smart and proximity cards to monitor and record employee activities is one of the drivers for the augmentation of smart card readers in the United States.
The enactment of access control as a service (ACaaS), implementation of mobile-based access control, and growing urbanization in developing nations are anticipated to render substantial growth opportunities to market players.
The commercial vertical is the biggest adopter of access control systems in the country. In this vertical, commercial premises such as banks and financial centers, enterprises and data centers, hotels, retail stores and malls, and entertainment areas have been considered.
Most of the office premises in the United States have made it mandatory for their employees to have more than one access control method: one for entering the commerce or IT premise and one for accessing the particular office premise.
While the adoption of access control solution increases, the government is also taking an interest in protecting its assets. Governments across the US has installed time-based access to a particular commercial or public premise, and restricted entry to the general public at certain places.
However, the market of access control is intensely competing concerning the strong need for security and privacy by various enterprises and residential users in the United States. However, due to less awareness among users about advanced security solutions and its usage in multiple applications, the growth of the market can be a challenge in the future.
Shortly market may face possible challenges in the growth due to Connectivity, integrity, and manageability issues. However, the key players of the United States are putting regressive efforts to provide innovative offerings and benchmark strategies in the access control market.
With the impact of the COVID-19, all enterprises will have to upgrade their access control system to non-touch technologies, like facial recognition coupled with temperature and mood sensing, to check if the employee entering the office premise is unwell. Most of the companies will invest in new-age non-contact entry control technologies to avoid contamination due to Coronavirus.
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.
Competitive Landscape
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.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 US MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 US MARKET DYNAMICS
4.3.1 Introduction to Market Dynamics
4.3.2 Market Drivers
4.3.3 Market Restraints
4.4 Assessment of Impact of COVID-19 on the Industry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Hardware
5.1.1.1 Card Readers
5.1.1.2 Biometric Readers
5.1.1.3 Electronic Locks
5.1.1.4 Multi Technology Readers
5.1.2 Software
5.1.3 Services
5.2 By End User
5.2.1 Commercial
5.2.2 Residential
5.2.3 Government
5.2.4 Industrial
5.2.5 Transport and Logistics
5.2.6 Healthcare
5.2.7 Military and Defense
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Assa Abloy AB Group
6.1.2 Allegion PLC
6.1.3 Johnson Controls International PLC
6.1.4 IDEMIA Identity & Security SAS
6.1.5 dormakaba Holding AG
6.1.6 United Technologies Corporation
6.1.7 Schneider Electric SE
6.1.8 Bosch Security System Inc.
6.1.9 Honeywell Security Group
6.1.10 Stanley Black & Decker Inc.
7 INVESTMENT ANALYSIS
8 FUTURE MARKET OPPORTUNITIES
For more information about this report visit https://www.researchandmarkets.com/r/htro9y
