Access Control Market worth $15.2 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 13, 2024 /PRNewswire/ -- 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 according to a new report by MarketsandMarkets™. Access control systems provide improved operational efficiency and cost savings as it streamlines access management processes, reducing administrative workload and manual tasks. It also provides enhanced security and minimizes losses from theft or data breaches, leading to cost savings in the long run.

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Browse in-depth TOC on "Access Control Market" 
197 – Tables
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254 – Pages

Access Control Market Report Scope:

Card-based readers in the hardware segment is expected to hold the largest market share during the forecast period.

Cards are used as credentials to verify user identity and decide whether to provide access (also the appropriate level of access). Card-based readers are compatible with a variety of door control systems and credentials, including proximity cards, magnetic stripe cards, and smart cards. This flexibility allows for easy integration with existing infrastructure and scalability to accommodate growing needs. Moreover, compared to biometric readers or sophisticated facial recognition systems, card-based readers are significantly cheaper to install and maintain.

Hosted access control as a service market segment is expected to hold the largest market share during the forecast period.

In hosted services, the servers holding access control data are placed at third-party locations. A user receives complete control over the access rights without the need to maintain the infrastructure. This ACaaS provides centralized security and management across multiple locations, streamlining security operations and enhancing visibility. The providers also ensure that systems are kept up to date with the latest security patches and firmware updates, improving overall security posture.

Commercial segment is expected to witness the second highest CAGR in the access control market during the forecast period.

Access control provides enhanced visitor management and experience. As it aids in pre-registration and temporary access credentials for visitors to streamline the check-in process and improve security. Integration with visitor management systems allows for centralized tracking and managing visitor activity. Moreover, access control systems manage employee and visitor access to different departments, secure confidential information, and comply with industry regulations.

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North America is expected to hold the largest share of the access control industry during the forecast period.

North America is at the forefront of implementing access control for improving safety measures and security. The rising concerns regarding data security are driving the demand for access control in the region. Security threats like cyberattacks, data breaches, and physical thefts are on the rise in North America. This underscores the need for robust access control solutions to protect sensitive assets, comply with data privacy regulations, and deter unauthorized access.

Key Players

Leading players in the access control companies include ASSA ABLOY (Sweden), dormakaba Group (US), Johnson Controls (Ireland), Allegion Plc (Ireland), Honeywell International, Inc. (US), Identiv, Inc. (US), Nedap N.V.  (Netherlands), Bosch Security Systems GmbH (Germany), Thales (US), AMAG Technology (US), Axis Communications AB (Sweden), Gunnebo Safe Storage AB. (Austria), NEC Corporation (Japan), GALLAGHER GROUP LIMITED (NewZealand), Brivo Systems, LLC. (US), SALTO Systems, S.L. (Spain), IDEMIA (France), Vanderbilt industries (UK), Cansec Systems Ltd. (Canada), Securitas Technology (US), Datawatch Systems (US), Telcred (Sweden), Forcefield Security (France), and Kisi Inc. (US) are few other key companies operating in the access control market.

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