Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for banking industry professionals · Friday, March 29, 2024 · 699,685,054 Articles · 3+ Million Readers

Access Control Market worth 14.9 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 20, 2023 /PRNewswire/ -- The global Access Control Market size is projected to grow from USD 9.9 billion in 2023 to USD 14.9 billion by 2028; it is expected to grow at a CAGR of 8.4% from 2023 to 2028 according to a new report by MarketsandMarkets. Factors such as increasing adoption of IoT-based security systems with cloud computing platforms and rising number of smart infrastructure and smart city projects are contributing to the growth of access control market. Furthermore, rapid urbanization in emerging countries and adoption of ACaaS as cost-effective and flexible solution is expected to provide the market with greater growth opportunities.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164562182

Browse in-depth TOC on "Access Control Market

177 – Tables
58 – Figures
255 – Pages

Card based readers by hardware is expected to account for the largest share in 2022.

Smart cards are more reliable than magnetic stripes and proximity cards. The increasing use of smart cards for monitoring and recording employee activities in organizations is one of the major factors driving the growth of the market for card-based readers.

Hosted ACaaS held the largest share in Access Control as a Service Market

Owing to the high rate of adoption of access control as a service, hosted ACaaS is expected to hold the largest market share during the forecast period. The benefits offered by hosted and managed services such as reduced labor costs, minimized capital expenditure, and the freedom provided to companies to stay focused on core business areas contribute to the growth of the ACaaS market.

Commercial Vertical to hold largest market share of access control market

This growth of commercial vertical can be attributed to the increasing incidence of robbery and theft in commercial buildings. To protect commercial assets, property owners are buying security systems embedded with access control for remote monitoring. Breaches pertaining to information security are a major concern nowadays.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=164562182

Access control market in Asia Pacific to exhibit highest growth rate during forecast period

The increasing adoption of access control solutions by small and medium-sized enterprises is also expected to drive market growth. The growing risks of terrorist threats and crime rates and a low police-to-population ratio in Asia Pacific countries are also expected to create a high demand for access control systems.

The key players operating in the access control market are ASSA ABLOY (Sweden), Johnson Controls (Ireland), dormakaba Holding (Switzerland), Allegion plc (Ireland), Honeywell International (US), Identiv, Inc. (US), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Bosch Security Systems Inc. (Germany), and Thales (France).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=164562182 

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports:

Biometric System Market by Authentication Type (Single Factor, Fingerprint, Iris, Face, Voice; Multi-factor), Type (Contact-based, Contactless, Hybrid), Offering Type, Mobility, Vertical & Region (2022-2027)

Smart Card Market by Interface (Contact, Contactless, Dual), Type (Memory, MPU Microprocessor), Functionality (Transaction, Communication, Security and Access Control), Offering, Vertical, and Region 2026

Fingerprint Sensor Market by Technology (Capacitive, Optical, Thermal and, Ultrasonic), Type (Area, Touch, and Swipe), Sensor Technology, Product, End–Use Application, and Region (2021-2026)

RFID Market by Offering (Tags, Readers, Software & Services), Tag Type (Passive, Active), Wafer Size, Frequency, Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band), Material, Application & Region - Global Forecast to 2030

Mobile Biometrics Market by Component (Fingerprint Readers, Scanners, Cameras, Software), Authentication Mode (Single factor (Fingerprint, Voice, Face, Iris, Vein, & Retina Scan) and Multifactor), Industry, and Geography - Global Forecast to 2022

About MarketsandMarkets

MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra

MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/PressReleases/access-control.asp
Content Source: https://www.marketsandmarkets.com/ResearchInsight/access-control-market.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/access-control-market-worth-14-9-billion-by-2028---exclusive-report-by-marketsandmarkets-301775905.html

SOURCE MarketsandMarkets

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release