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Press release content from Business Wire. The AP news staff was not involved in its creation.

The Global Access Control Market to 2024 - Projected to Record a CAGR of 8.24%, Driven by the Adoption of IoT-based Security Systems with Cloud Computing Platforms -

March 4, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Mar 4, 2019--The “Access Control Market by Component (Hardware Card-Based Readers, Biometric Readers, Electronic Locks, Controllers, and Software), Service (Installation, Maintenance, & ACaaS), Vertical, and Geography - Global Forecast to 2024” report has been added to’s offering.

The access control market is expected to grow from USD 7.5 billion in 2018 to USD 12.1 billion by 2024, at a CAGR of 8.24% from 2018 to 2024.

The growth of this market is mainly driven by high adoption of access control solutions owing to increasing crime rates globally; technological advancements and deployment of wireless technology in security systems; and adoption of IoT-based security systems with cloud computing platforms.

The adoption of access control as a service (ACaaS); implementation of mobile-based access control; and increasing urbanization in emerging countries are the major opportunities for the growth of the access control market. However, high cost and perception of unreliability restrain the market’s growth.


Residential vertical to hold significant share of access control market by 2024

The access control market for the residential vertical is expected to grow at the highest CAGR from 2018 to 2024. In smart homes, access control systems are used to enhance security.

The key factors contributing to the growth of this market include the rise in crime rates, ongoing technological advancements, increasing need for hazards detection such as fire and gas leaks, and ensuring the safety of children at home. The growing smart home market will lead the demand for access control solutions in the residential sector.

North America to be largest access control market by 2024

North America is expected to hold the largest share of the access control market during the forecast period. Increasing cyber and malware attacks in the region have compelled several governments and security agencies to enhance security features in their transactions through the deployment of RFID and biometric technologies, which is further contributing to the overall growth of access control market. The presence of key players is another key factor for the growth of the access control market in this region.

Major Players Profiled

  • ASSA ABLOY AB (Sweden)
  • Johnson Controls International PLC (Ireland)
  • Dormakaba Holding AG (Switzerland)
  • Allegion PLC (Ireland)
  • Honeywell Security Group (US)
  • Identiv Inc. (US)
  • Nedap N.V. (Netherlands)
  • Suprema HQ Inc. (South Korea)
  • Bosch Security Systems Inc. (US)
  • Gemalto N.V. (Netherlands)

Topics Covered

1 Introduction

1.1 Study Objectives

1.2 Definition

1.3 Markets Segmentation

1.4 Currency

1.5 Limitations


1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Secondary Data

2.3 Market Size Estimation

2.4 Market Breakdown and Data Triangulation

2.5 Research Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Access Control Market

4.2 Access Control Market, By Component and Service

4.3 Access Control Market in North America, Vertical and Country

4.4 Access Control Market, By Country

5 Market Overview

5.1 Introduction

5.1.1 Drivers High Adoption of Access Control Solutions Owing to Increasing Crime Rates Globally Technological Advancements and Deployment of Wireless Technology in Security Systems Adoption of IoT-Based Security Systems With Cloud Computing Platforms

5.1.2 Restraints High Cost and Perception of Unreliability Less Awareness Among Users About Advanced Security Solutions

5.1.3 Opportunities Adoption of Access Control as a Service (ACaaS) Implementation of Mobile-Based Access Control Increasing Urbanization in Emerging Countries

5.1.4 Challenges Security Concerns Related to Unauthorized Access and Data Breach in Access Control Environment

5.2 Value Chain Analysis

6 Access Control Models (Qualitative)

6.1 Introduction

6.2 Discretionary Access Control (DAC)

6.3 Mandatory Access Control (MAC)

6.4 Role-Based Access Control (RBAC)

7 Access Control Systems (Qualitative)

7.1 Introduction

7.2 Physical Access Control

7.3 Electronic Access Control

7.4 Logical Access Control

7.5 Network Access Control

7.6 Mobile Access Control

8 Access Control Market, By Component and Service

8.1 Introduction

8.2 Hardware Components

8.3 Software (Management System and Others)

8.4 Services

9 Access Control as A Service Market

9.1 Introduction

9.2 Access Control as A Service (ACaaS)

10 Access Control Market, By Vertical

10.1 Introduction

10.2 Commercial

10.3 Military & Defense

10.4 Governmental

10.5 Residential

10.6 Education

10.7 Healthcare

10.8 Manufacturing and Industrial

10.9 Transportation

11 Geographic Analysis

11.1 Introduction

11.2 North America

11.3 Europe

11.4 APAC

11.5 RoW

12 Competitive Landscape

12.1 Overview

12.2 Market Player Ranking Analysis

12.3 Competitive Leadership Mapping

12.4 Strength of Product Portfolio (25 Companies)

12.5 Business Strategy Excellence (25 Companies)

12.6 Competitive Scenario

12.7 Competitive Situations & Trends

13 Company Profiles

13.1 Introduction

13.2 Key Players

13.2.1 Assa Abloy AB

13.2.2 Dormakaba Holding AG

13.2.3 Johnson Controls International PLC

13.2.4 Allegion PLC

13.2.5 Honeywell Security Group

13.2.6 Identiv Inc.

13.2.7 Nedap N.V.

13.2.8 Suprema HQ Inc.

13.2.9 Bosch Security Systems Inc.

13.2.10 Gemlato N.V.

13.3 Other Companies

13.3.1 Amag Technology Inc.

13.3.2 Axis Communications AB

13.3.3 Gunnebo AB

13.3.4 NEC Corporation

13.3.5 Gallagher Group Limited

13.3.6 Adman Technologies Pvt. Ltd.

13.3.7 Brivo Inc.

13.3.8 Salto Systems S.L.

13.3.9 Idemia

13.3.10 Vanderbilt Industries

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Related Topics:Physical Access Control



SOURCE: Research and Markets

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PUB: 03/04/2019 05:33 AM/DISC: 03/04/2019 05:33 AM