Electronic Access Control Systems Market Overview, Downstream Applications, Development History 2023

11/set/2019 11:21:03 Rahul Sisodiya Contatta l'autore

Market Highlights:

The global electronic access control systems market is expected to exhibit a robust 8.53% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The market is expected to reach a valuation of USD 13.5 billion by 2023, on the back of the growing demand for electronic access control systems in developed as well as emerging nations across the world.

Competitive Analysis:

Leading players in the global electronic access control systems market include ASSA ABLOY AB, Johnson Controls International plc, dormakaba Holding AG, Allegion plc, Honeywell Security Group, Identiv Inc., Nedap N.V., Suprema HQ Inc., Bosch Security Systems Inc., Gemalto N.V., NEC Corporation, IDEMIA, Salto Systems, Axis Communications, and others.

In July 2019, Comelit Group and Salto Systems announced an integration to further develop seamless electronic access control through the One App mobile app.

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Segmentation:

The electronic access control systems market is segmented based on component, vertical, and region.

By component, the market is segmented into biometric readers, card-based readers, multi-technology readers, electronic locks, and controllers. Biometric readers are likely to remain popular in the global electronic access control systems market over the forecast period, holding the dominant share in the global market due to their unique recognition of person-specific parameters, allowing stronger security.

On the basis of vertical, the market is segmented commercial spaces, military & defense, government, residential, education, healthcare, industrial, and others. Commercial spaces are likely to remain the leading end user in the global electronic access control systems market over the forecast period due to the growing demand for secure monitoring of commercial spaces in emerging regions such as Southeast Asia and the Middle East.

Regional Analysis:

The global Electronic Access Control Systems Market is likely to be dominated by North America over the forecast period due to the widespread adoption of electronic access control systems in the region. North America has emerged as a major regional market for electronic access control systems due to the affordability of advanced electronic access control systems in the region. The strong presence of large as well as small and midsized enterprises in North America has led to electronic access control systems being widely adopted in the industrial, government, as well as private sectors. The development of affordable yet advanced and more secure versions of electronic access control systems is likely to remain the goal for players in the global market in the coming years. Growing demand for secure access control systems from the military sector as well as the government sector in countries such as the U.S. is likely to be a major driver for the electronic access control systems market over the forecast period.

Europe is also likely to hold a major share in the global electronic access control systems market over the forecast period due to the growing adoption of electronic access control systems in developing economies in Eastern Europe, such as Czech Republic, Romania, Bulgaria, Ukraine, Russia, and Poland. Apart from this, the widespread adoption of electronic access control systems in leading Western European economies such as France, Germany, the UK, and Italy is likely to be the major driver for the electronic access control systems market over the forecast period.

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Asia Pacific is likely to exhibit resounding growth in the global electronic access control systems market over the forecast period due to the growing potential for the market in urban centers in India, China, Indonesia, Malaysia, Japan, and South Korea. Growing adoption of electronic access control systems in Asia Pacific is likely to remain a major driver for the global market over the forecast period, with the rising commercial and industrial construction in the region requiring competent security systems, leading to a growing demand from the electronic access control systems market. Rising prevalence of theft, data theft, and other unlawful activities in Asia Pacific is likely to drive the need for secure, reliable access control systems, driving the demand from the electronic access control systems market over the forecast period.

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