Dublin, March 07, 2019 (GLOBE NEWSWIRE) -- 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 ResearchAndMarkets.com'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.
Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Markets Segmentation
1.3.1 Geographic Scope
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1.1 Major Secondary Sources
2.2.1.2 Secondary Sources
2.2.2 Primary Data
2.2.2.1 Primary Interviews With Experts
2.2.2.2 Key Data From Primary Sources
2.2.2.3 Key Industry Insights
2.2.2.4 Breakdown of Primaries
2.2.3 Secondary and Primary Research
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand Side)
2.3.2 Top-Down Approach
2.3.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
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
5.1.1.1 High Adoption of Access Control Solutions Owing to Increasing Crime Rates Globally
5.1.1.2 Technological Advancements and Deployment of Wireless Technology in Security Systems
5.1.1.3 Adoption of IoT-based Security Systems With Cloud Computing Platforms
5.1.2 Restraints
5.1.2.1 High Cost and Perception of Unreliability
5.1.2.2 Less Awareness Among Users About Advanced Security Solutions
5.1.3 Opportunities
5.1.3.1 Adoption of Access Control as a Service (ACaaS)
5.1.3.2 Implementation of Mobile-Based Access Control
5.1.3.3 Increasing Urbanization in Emerging Countries
5.1.4 Challenges
5.1.4.1 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
8.2.1 Card-Based Readers
8.2.1.1 Magnetic Stripe Readers
8.2.1.1.1 Magnetic Stripe Readers has Smallest Share for Card-Based Readers Market in 2017
8.2.1.2 Proximity Card Readers
8.2.1.2.1 Proximity Readers Boost the Card-Based Market With Significant Growth Rate During Forecast Period
8.2.1.3 Smart Card Readers
8.2.1.3.1 Contact Smart Cards
8.2.1.3.2 Contactless
8.2.2 Biometric Readers
8.2.2.1 Fingerprint Recognition
8.2.2.1.1 Fingerprint Held Largest Share for Biometrics Readers Market in 2017
8.2.2.2 Palm Recognition
8.2.2.2.1 Palm Recognition Gain Popularity for Access Control Market During Forecast Period
8.2.2.3 Iris Recognition
8.2.2.3.1 Iris Recognition Systems Provides High Accuracy for Authentication
8.2.2.4 Facial Recognition
8.2.2.4.1 Facial Recognition Expected to Grow With Highest Rate During Forecast Period
8.2.2.5 Voice Recognition
8.2.2.5.1 Voice Recognition is One of the Promising Biometrics Solutions for Authentication
8.2.3 Multi-Technology Readers
8.2.3.1 Multi Technology Readers Held Significant Shares for Access Control Market During Forecast Period
8.2.4 Electronic Locks
8.2.4.1 Electromagnetic Locks
8.2.4.2 Electric Strike Locks
8.2.4.3 Smart Locks
8.2.4.3.1 Smart Locks Expected to Grow at Highest CAGR During Forecast Period
8.2.5 Controllers
8.2.5.1 Serial Access Controllers
8.2.5.1.1 Serial Controllers Held A Smaller Size Market in 2017
8.2.5.2 IP Access Controllers
8.2.5.2.1 IP Access Controllers Expected to Grow at Higher CAGR During Forecast Period
8.2.6 Others
8.3 Software (Management System and Others)
8.3.1 Software Component Expected to Grow With Highest Growth Rate From 2018 to 2024
8.4 Services
8.4.1 Installation & Integration
8.4.1.1 Growing Implementation of Security Solutions Will Boost the Installation and Integration Service Market
8.4.2 Support & Maintenance Services
8.4.2.1 Support and Maintenance Services Expected to Grow at Higher CAGR During Forecast Period
9 Access Control as A Service Market
9.1 Introduction
9.2 Access Control as A Service (ACaaS)
9.2.1 Hosted ACaaS
9.2.1.1 Hosted ACaaS Held Largest Market Share in 2017
9.2.2 Managed ACaaS
9.2.2.1 Managed ACaaS Expected to Grow at Highest CAGR During Forecast Period
9.2.3 Hybrid ACaaS
9.2.3.1 Hybrid ACaaS Held Smallest Market Share in 2017
10 Access Control Market, By Vertical
10.1 Introduction
10.2 Commercial
10.2.1 Enterprises and Data Centers
10.2.1.1 Commercial Access Control Market for Enterprises and Data Centers Expected to Grow at Highest CAGR During Forecast Period
10.2.2 Banks and Financial Centers
10.2.2.1 The Need of High Security for Banking Sector Expected to Grow Access Control Market During Forecast Period
10.2.3 Hotels, Stadiums, and Amusement Parks
10.2.3.1 The Ongoing Terrorist Activities in Hospitality Sector Boost the Demand of Access Control Market
10.2.4 Retail Stores and Malls
10.2.4.1 to Provide Security to Assets, the Need of Security Solutions is High in Retail Sector
10.3 Military & Defense
10.3.1 Need of High Secure Environment Lead the Demand for Access Control Solutions in Defense Vertical
10.4 Governmental
10.4.1 Government Vertical Held Second-Largest Market Share in 2017
10.5 Residential
10.5.1 Residential Vertical Expected to Grow at Highest CAGR During Forecast Period
10.6 Education
10.6.1 Need of High Safety Lead the Demand for Access Control Solutions in Education Vertical
10.7 Healthcare
10.7.1 Healthcare is A Prominent Vertical for Biometrics Access Control Solutions
10.8 Manufacturing and Industrial
10.8.1 Industrial Vertical is Adopting Access Control Solutions to Provide Secure Environment
10.9 Transportation
10.9.1 Increased Implementation of Security Solutions Lead the Demand for Access Control Solutions
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US Accounted for Largest Share of Access Control Market in North America
11.2.2 Canada
11.2.2.1 The Adoption of High-Security Solutions Lead the Access Control Market in Canada
11.2.3 Mexico
11.2.3.1 Growth Opportunities for Home Automation and Security to Make Access Control Market Lucrative in Mexico
11.3 Europe
11.3.1 UK
11.3.1.1 Market in UK to Grow at Highest CAGR During Forecast Period
11.3.2 Germany
11.3.2.1 Growing Demand for Biometric Solutions Drives Access Control Market in Germany
11.3.3 France
11.3.3.1 Growing Terrorist Activities Drive French Access Control Market
11.3.4 Rest of Europe
11.4 APAC
11.4.1 China
11.4.1.1 China Accounted for Largest Share of Access Control Market in APAC in 2017
11.4.2 Japan
11.4.2.1 With Growing Economy and Increasing Security Threats, Access Control Market is Expected to Witness High Growth in Japan
11.4.3 India
11.4.3.1 Increasing Security Concerns and Urbanization Boost Indian Access Control Market
11.4.4 South Korea
11.4.4.1 Owing Increasing Need for Security Solutions, South Korea Adopts Access Control Solutions
11.4.5 Rest of APAC
11.5 RoW
11.5.1 Middle East & Africa
11.5.1.1 Growing Government Security Initiatives Boost Region's Access Control Market
11.5.2 South America
11.5.2.1 High Crime Rate Lead the Demand for Access Control Solutions in This Region
12 Competitive Landscape
12.1 Overview
12.2 Market Player Ranking Analysis
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Dynamic Differentiators
12.3.4 Emerging Companies
12.4 Strength of Product Portfolio (25 Companies)
12.5 Business Strategy Excellence (25 Companies)
12.6 Competitive Scenario
12.7 Competitive Situations & Trends
12.7.1 Product Launches/Developments
12.7.2 Mergers and Acquisitions
12.7.3 Collaborations/Contracts/Agreements/Partnerships
12.7.4 Expansions
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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