Access Control Market Size, Share & Analysis

Updated on : Sep 18, 2024

Access control Market Size & Share

[247 Pages Report] The access control market is projected to grow from USD 10.4 billion in 2024 and is expected to reach USD 15.2 billion by 2029, growing at a CAGR of 7.8% from 2024 to 2029. Increasing adoption of IoT-based security systems with cloud computing platforms is driving the market for access control. IoT sensors integrated with access control systems provide real-time data on access attempts, unauthorized entries, and potential security breaches. Cloud platforms enable centralized data analysis and prompt reaction to security threats. Moreover, IoT allows for granular access control industry based on factors like time of day, location, user role, and even environmental conditions. This enhances security and prevents unauthorized access to sensitive areas or resources.

The objective of the report is to define, describe, and forecast the access control market based on offering, and vertical. The report also provides insights on access control as a service market.

Access Control Market Forecast to 2029

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Access control Market Trends & Dynamics

Drivers: Increasing adoption of IoT-based security systems with cloud computing platforms

Increasing adoption of IoT-based security systems with cloud computing platforms is one of the major driver for the increasing demand for access control. The power of cloud technologies and cloud-based infrastructure has led to several innovations throughout the past decade. Cloud-based platforms offer businesses advantages that can impact the budget, operational efficiency, and compliance. Cloud platforms offer on-demand scalability, allowing businesses to easily expand or contract their access control systems as needed, without significant upfront investments in hardware infrastructure. Moreover, cloud-based systems enable remote management of access control settings, user credentials, and system updates, simplifying administration and enhancing operational efficiency.

Access control systems integrated with cloud platforms generate valuable data on user access patterns, which can be analyzed to identify trends, optimize security protocols, and automate access decisions.

Restraint: High installation, maintenance, and ownership costs of access control systems

High costs associated with the installation and maintenance of access control systems are expected to be the key factor hampering the growth of the market. Setting up an access control system often involves specialized hardware (readers, controllers, panels) and sophisticated software for configuration and management. This complexity can drive up initial installation costs. Access control systems require regular maintenance and updates to ensure optimal performance and security. This includes software updates, hardware repairs, and potential replacements over time. Moreover, Installing complex access control systems often requires qualified technicians, further adding to the initial cost.

Opportunity: Growing implementation of mobile-based access control

Vendors are innovating their products to meet the ever-changing requirements of customers, who nowadays are constantly looking to adopt advanced security solutions. Mobile based access control aids in remote access management users can grant temporary access, revoke permissions, and manage settings remotely through their mobile devices, increasing flexibility and control. Mobile apps can also personalize access experiences based on user preferences, such as preferred entry points or automatic door unlocking upon approach.

Challenge: Low awareness among users about availability and benefits of advanced security solutions

For centuries, access control systems have existed in their simplest form as mechanical locks; with technology’s evolution, there have been various improvements and innovations.  Many people perceive advanced security solutions like access control systems as complex and expensive, often reserved for large corporations or government facilities. Cost often becomes the primary deciding factor for users, leading them to overlook the long-term benefits and return on investment that advanced security solutions provide. This perception can deter potential users from exploring these options for their homes or businesses.

Access Control Marke Segmentation

Market for services in the offering segment is expected to witness second highest CAGR during the forecast period.

Post-sales services include installation, cabling, repair, and software update. Support and maintenance services are required beyond implementation to ensure a smooth transition as the system is deployed. These services play a crucial role in ensuring that systems function optimally and deliver the desired security and convenience benefits. This involves assessing the client's needs and recommending the most suitable access control system based on factors like facility size, security requirements, budget, and existing infrastructure.

Market for managed segment in the access control as a service market to witness highest CAGR during the forecast period.

In managed ACaaS, a user pays a third party to administer the access control platform. The third-party manages the services, including adding/deleting access rights, changing/assigning schedules, printing badges and credentials, and door ajar/propped monitoring. Managed ACaaS typically follows a subscription-based model, allowing businesses to pay only for the features and services they need, making it a more cost-effective option compared to traditional on-premise systems.

Residential segment is expected to hold the second largest market share in the access control market by 2029.

The increased security concerns due to the growing crime rates is one of the major driving factor for access control market. Access control provides with convenience and automation as it provides keyless entry through smartphones, wearables, or key fobs offers a convenient and hassle-free way to access homes. Remote access management enables granting temporary access to delivery personnel, guests, or pet sitters.

Access control market in the Asia Pacific estimated to grow at the fastest rate during the forecast period.

The rising adoption of access control systems by small- and medium-sized enterprises, hospitality businesses, airports, ATMs, banks, residential buildings, and religious places is expected to drive the growth of the access control market. Advancements in technology have made access controll more affordable and scalable, especially for SMEs. Cloud-based systems and wireless solutions eliminate the need for expensive hardware installations and ongoing maintenance, making them more accessible to smaller businesses. Moreover, numerous benefits offered by access control, considering SME’s include improved employee safety, better control over visitor access, and even integration with other smart building systems for increased automation and convenience.

Access Control Market by Region

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Key Market Players - Access control Market

Major vendors in the access control companies include

• ASSA ABLOY (Sweden), dorm
• akaba Group (Switzerland),
• Jhonson Controls (Ireland),
• Allegion Plc (Ireland),
• Honeywell International Inc. (US),
• Identiv, Inc. (US), Nedap N.V. (Netherlands),
• Suprema Inc. (South Korea),
• Bosch Security Systems GmbH (Germany), and Thales (France).

Scope of the Access control Market Report

Access Control Market Highlights

This research report categorizes the access control market based on based on offering access control as a service market, vertical and Region

Recent Developments

• In December 2023, Thales partnered with one of the leading Korean mobile operator SK Telecom to deploy Post Quantum Cryptography (PQC) on 5G networks to upgrade protection of subscribers’ identity and privacy.
• In November 2023, Suprema Inc. launched the BioStation 2a. It is embedded with the cutting-edge AI algorithm based on deep learning. This high performance edge device has adopted an AI processor, NPU(Neural Processing Unit), optimized for deep learning, and delivering highly accurate and fast fingerprint recognition.
• In October 2022, dormakaba launched a new Royal Institute of British Architects (RIBA) Approved Continuing Professional Development (CPD) module. ‘Demystifying Access Control’ is the latest addition to dormakaba’s portfolio of educational sessions and provides an overview of access control fundamentals as well as key specification considerations and the latest innovations in hardware and software.

Critical questions answered by this report:

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