Electronic Access Control Systems Market is anticipated to progress at a CAGR of 11.21% from 2023 to 2030, Contrive Datum Insights
According to a market research study published by Contrive Datum Insights, The Asia-Pacific region held the biggest market share, The Asia-Pacific region is projected to grow significantly over the next decade, with a CAGR of 10%
Farmington, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The Electronic Access Control Systems Market was valued at US$ 33.52 Billion. in 2022. The Global Electronic Access Control Systems Market size is estimated to grow at a CAGR of 11.21% over the forecast period. Electronic access control systems are digital networks that regulate who is permitted to enter security gates. A security portal is a point of entry and exit for a security perimeter. Most electronic access control systems include a built-in burglar alarm. With the aid of EAC systems, users can go to many sections or select a few. They can monitor who enters and exits the facility. As a precaution and in case of an emergency, they can locate people in buildings. Most EAC systems are fairly adaptable, and new technologies are further increasing their adaptability.
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Electronic Access Control Systems Market Recent Developments:
In April 2022, Johnson Controls the global leader for smart, healthy and sustainable buildings, announced today that it acquired Security Enhancement Systems LLC (SES), a provider of mobile-based, keyless access control solutions used in critical infrastructure, including telecommunication towers for major providers.
In October 2022, ASSA ABLOY has acquired Bird Home Automation GmbH (“DoorBird”), a German manufacturer of high-quality IP door intercom for single and multi-family buildings, for indoor station or smartphone control, marketed under the trademark DoorBird.
In July 2022, Allegion plc a leading global security products and solutions provider, has, through its subsidiaries, completed the previously announced acquisition of Stanley Access Technologies LLC (“Access Technologies”) and assets related to the automatic entrance solutions business from Stanley Black & Decker, Inc. for $900 million in cash.
Electronic Access Control Systems Market Segmentation Analysis:
Based on the kind of procedure, Authentication Systems leads the market and has the greatest CAGR in the coming years. In the market category for authentication systems, biometrics is projected to have a significant impact. This is due to the fact that the sensors of smart phones are continually improving. This technology makes it simpler to identify individuals, enhances the security of information systems, and restores physical control access. In light of this, it is anticipated that the market for authentication systems would expand rapidly over the next several years, as security budgets increase and individuals become more security-conscious.
Government leads the market with the highest CAGR for the next five years, as measured by End-User segmentation. Because fraud, illegal immigration, and other criminal activities are on the rise, governments over the world are investing in Electronic Access Control Systems to improve security. This contributes to the future expansion of the market.
The Asia-Pacific region held the biggest market share in 2021. The Asia-Pacific region is projected to grow significantly over the next decade, with a CAGR of 10%. During the forecast period, the APAC region is anticipated to rise at a rapid CAGR. The APAC area has expanded as it has become more acceptable for firms to establish manufacturing operations there. As more local and IT enterprises, especially startups, open, the need to secure assets will undoubtedly increase. In numerous nations, including China, Japan, and India, residential real estate is undergoing significant upheaval. The building also includes modern biometric entry control, which reduces the likelihood of theft and vandalism.
Because it is one of the most developed countries, the United States is one of the most important nations when it comes to Electronic Access Control Systems. Long-term growth in demand for electronic access control systems is anticipated due to the rapid release of new products in the United States and a number of government initiatives.
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Scope of Report:
11.21% from 2023 to 2030
Market Size in 2022
USD 33.52 Billion
Authentication Systems, Intruder Alarm Systems, Perimeter Security Systems
Employee Onboarding & Offboarding, Threat Management, Parking Management, Guard Management, Visitor Management, Others
By End User
Government & Defense, Commercial & Institutions, Industrial, Residential
Bosch Security Systems, Honeywell International Inc., Cisco Systems, Tyco International Ltd., Siemens AG, Magal Security Systems Ltd, NEC Corporation, Godrej Consumer Product Limited., Johnson Controls, Hitachi, United Technologies Corporation, Panasonic Corporation, and Others
2017 to 2021
2023 to 2030
More individuals are utilising access control systems, technology is improving, and there are more wireless security solutions on the market. The market is expanding due to the development of cloud computing platforms and Internet of Things-based security solutions (IoT). In addition, it is anticipated that the market for access control will expand in the near future due to the expansion of cities and the demand for wireless and IoT-based security systems in a range of environments.
The market for electronic access control systems is constrained by a lack of knowledge, high up-front expenditures, and inadequate infrastructure. Installation costs are prohibitive to adoption. Many emerging economies have rising markets, but only a few sectors can reach them due to high installation costs.
Data centres and service providers are perpetually vulnerable to data theft and the transfer of illegal data to undisclosed destinations. Utilizing this threat, manufacturers are creating sophisticated access control systems with several levels of security to defend data-based organisations from impending threats. As worldwide smart city projects are implemented and housing standards improve, market participants are presented with new opportunities for electronic access control systems.
Electronic Access Control Systems Market Key Segments Covered:
Top Market Players:
Bosch Security Systems, Honeywell International Inc., Cisco Systems, Tyco International Ltd., Siemens AG, Magal Security Systems Ltd, NEC Corporation, Godrej Consumer Product Limited., Johnson Controls, Hitachi, United Technologies Corporation, Panasonic Corporation, and Others.
By Product Type
Intruder Alarm Systems
Perimeter Security Systems
Employee Onboarding & Offboarding
Government & Defense
Commercial & Institutions
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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