Dublin, April 20, 2021 (GLOBE NEWSWIRE) -- The "Access Control System Market Share, Size, Trends, Industry Analysis Report, By Type [Hardware, Software, Services]; By End Use; By Regions; Segment Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global access control system market size is expected to reach USD 15.62 billion by 2027
The shift from key-based to keyless Access Control System has eliminated the stress associated with key-dependent access systems, such as keys misplacement.
It has, furthermore, enhanced the end-user experience, as these systems are comparatively more efficient, faster processing power, and multitude options for unlocking doors (RFID, biometric, keypad, and key, all in one access system to eliminate the dependence on one type of access system), and remote accessibility.
Owing to such features, Access Control System are now widely installed across several industries, and the market, globally, is furthermore expected to witness impelling growth during the forecast period as well. Moreover, the desired need for enhanced security, living standards, and spending capability of the population are furthermore expected to drive the market.
Finger-vein recognition technology requires finger scanning with the use of infrared sensor and a chargeable device, which highlighting unique finger pattern in a database aiming to reduce dummy finger issues providing high security and has found mass growth in sectors like attendance tracking, border control, etc.
Owing to the increasing burglaries in residential areas has led to the high demand for enhanced access systems. Besides this, increasing adoption of smartphones is observed, globally. Henceforth, the lack of presence of competition in the remote access control system market, in response to the increasing demand for remote access security from the end-users, poses a high growth opportunity for vendors planning on investing in the same.
Use of artificial intelligence and smart applications like biometrics and card-based access control system add value to business ensuring high-level security with enormous indirect data collection pertaining to the employees. High-security doors mounted with intelligent PACs are being installed in areas like server room racks and cabinets, this is expected to drive market growth.
Companies such as Honeywell International, Allegion, Avigilon, Bosch security, Johnson controls, 3M Cogent Inc., Accu-Time Systems Inc., Aware Inc., Bio-Key International Inc., Axis communications, Assa Abloy, United Technologies Corporation, Digital Persona Inc., IrisID Systems Inc., Morphotrak LLC, NEC Corporation, and Secugen Corporation are few key players operating in the Access Control System market.
Drivers and Opportunities
Rapid innovations in the Access Control System
Uptake in varied industry verticals
Restraints and Challenges
Data feeding issues
Porter's Five Forces Analysis
Access Control System Market Industry trends
Access Control System by Type Outlook (Revenue-USD Million, 2016-2027)
Visitor Management System
Installation & Integration Services
Support & Maintenance Services
Access Control System by End Use Outlook (Revenue-USD Million, 2016-2027)
Military & Defense
Manufacturing & Industrial
Access Control System by Regional Outlook (Revenue-USD Million, 2016-2027)
Central & South America
Middle East & Africa
3M Cogent Inc.
Bio-Key International Inc.
United Technologies Corporation
Digital Persona Inc.
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