LONDON, UK, April 25, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Electronic Access Control Systems Market By Offerings (Hardware, Card-based Readers, Biometric Readers, Multi-technology Readers, Electronic Locks, Controllers, Others, Software, Visitor Management System, Database and Software Tools, Services, Installation & Integration Services, Support & Maintenance Services), By Access Control as a Service (Hosted, Managed, and Hybrid), By Vertical (Commercial, Enterprises & Data Centers, BFSI, Hotels, Stadiums, & Amusement Parks, Retail Stores and Malls, Military & Defense, Government, Residential, Education, Healthcare, Manufacturing & Industrial, and Transportation), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” in its research database.
What is the Electronic Access Control Systems Market growth?
“According to the latest research study, the global demand for Electronic Access Control Systems Market size & share valued at USD 32,817.5 million in 2021 and it is projected to hit around USD 67,243.2 million Mark, by 2028, at a compound annual growth rate (CAGR) of about 12.7% over the forecast period 2022 to 2028.”
What is Electronic Access Control Systems? How big is the Electronic Access Control Systems Industry?
Report Overview:
An electronic access control (EAC) system is a method of granting restricted access to private premises by utilizing electromechanical hardware. Electronic access control systems are comprised of all electromechanical hardware devices used to restrict entry to a private location. Terrorist attacks and criminal activity are on the rise, necessitating high-level security. EAC system provides some advantages over other security products, such as convenience, high accuracy, and time efficiency, which increase its appeal in the global security market.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 32,817.5 Million |
| Projected Market Size in 2028 | USD 67,243.2 Million |
| CAGR Growth Rate | 12.7% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | dormakaba Holding (Switzerland), ASSA ABLOY (Sweden), Johnson Controls (Ireland), Allegion plc (Ireland), Honeywell International (US), Identiv, Inc. (US), Nedap N.V. (Netherlands), Suprema HQ (South Korea), Thales Group (France), Bosch Security Systems (Germany), NEC Corporation (Japan), and IDEMIAs (France), among others |
| Key Segment | By Offerings, Access Control as a Service, Vertical, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Global Electronic Access Control Systems Market: Growth Factors
The need for improved security systems as a result of rising criminal activity, illegal immigration, and fraud has prompted governments all over the world to invest in electronic access control systems, driving the growth of the market in the forecast period.
In addition, the growing popularity of electromagnetic locks and electric strikes is expected to contribute to the growth of the electronic access control systems market in the coming years. Due to their high accuracy, time efficiency, and convenience over other security products, educational institutes, healthcare centers, and residential buildings are expected to increase the demand for electronic access control systems in the upcoming years. Increased privatization and international trade have encouraged economies to invest in better infrastructure, propelling the growth of the market.
Moreover, the expanding application scope of electronics access control systems in a variety of environments such as defense and commercial sectors, as well as the rising need to limit individual premise access, will provide ample new opportunities that will lead to the growth of the electronic access control systems market during the forecasted period. However, a lack of awareness, high upfront costs, and a lack of proper infrastructure may act as a restraint for the electronic access control systems market.
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Electronic Access Control Systems Market: Segmentation Analysis
The Electronic Access Control Systems Market is segregated based on Offerings, Access Control as a Service, and Vertical.
Based on Offerings, the global market is distinguished into Hardware, Card-based Readers, Biometric Readers, Multi-technology Readers, Electronic Locks, Controllers, Others, Software, Visitor Management Systems, Database and Software Tools, Services, Installation & Integration Services, Support & Maintenance Services. Based on Access Control as a Service, the global market is distinguished into Hosted, Managed, and Hybrid.
Based on Vertical, the global market is distinguished into Commercial, Enterprises & Data Centers, BFSI, Hotels, Stadiums, & Amusement Parks, Retail Stores and Malls, Military & Defense, Government, Residential, Education, Healthcare, Manufacturing & Industrial, and Transportation.
Impact of COVID-19 on Electronic Access Control Systems Market:
The Covid pandemic is causing havoc in the business. The epidemic is producing unanticipated shifts in the electronic access control sector. Beginning in 2020, demand for the technology is likely to decline. Because of the Covid, deploying the system is difficult. The adoption rate is steadily decreasing. Many offices prefer to do their administrative work from home. As a result, the demand for this system among enterprises is dwindling. Electronic access control system production is declining due to a drop in demand from the primary end-user.
Throughout this time, however, demand for the system in the healthcare industry has increased. Hospitals are inundated with patients seeking Covid therapy. In the health-care industry, it is growing its security solution. During this time, the electronic access control systems market is growing due to demand from this industry. Electronic access control systems are projected to be widely used in the next years.
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Who are the key players in the Electronic Access Control Systems Market?
Some of the main competitors dominating the global electronic access control systems market include -
- Dormakaba Holding (Switzerland)
- ASSA ABLOY (Sweden)
- Johnson Controls (Ireland)
- Allegion plc (Ireland)
- Honeywell International (US)
- Identiv Inc. (US)
- Nedap N.V. (Netherlands)
- Suprema HQ (South Korea)
- Thales Group (France)
- Bosch Security Systems (Germany)
- NEC Corporation (Japan)
- IDEMIAs (France)
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Electronic Access Control Systems market is expected to grow annually at a CAGR of around 12.7% from 2022 to 2028.
- In 2021, the Electronic Access Control Systems market was worth approximately USD 32,817.5 million, and by 2028, it is anticipated to be valued around USD 67,243.2 million.
- Biometric readers are likely to grow at the fastest rate during the forecast period.
- One of the most quickly growing perimeter security technology is biometrics. This technology allows a person's physical characteristics to be identified in order to grant supervised physical access to infrastructure.
- Because of the presence of a stable and well-established economy, as well as the strong presence of the region's leading manufacturers, North America dominated the electronic access control systems industry on the basis of region.
Key questions answered in this report:
- What is the market size and growth rate forecast for Electronic Access Control Systems industry?
- What are the main driving factors propelling the Electronic Access Control Systems Market forward?
- What are the leading companies in the Electronic Access Control Systems Industry?
- What segments does the Electronic Access Control Systems Market cover?
- How can I receive a free copy of the Electronic Access Control Systems Market sample report and company profiles?
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Which region offers the best opportunity and growth for Electronic Access Control Systems (EACS) Market?
North America dominated the market during the forecast period. When it comes to the implementation of access control systems, North America is far ahead of the rest of the world. Companies in the United States, Canada, and Mexico are working to improve their expertise and create innovative access control systems and services. This provides them with a larger competitive advantage as they seek to increase their market share in the region's access control industry. The increasing number of cyber and malware attacks in the region has compelled several governments and security agencies to improve security features in their transactions by deploying RFID and biometric technologies, which is contributing to the overall growth of the access control market.
The Asia Pacific is experiencing the fastest growth because of the increased demand for security services data and assets. Aside from that, due to security concerns, rapid urbanization increases the need for surveillance systems in residential areas. Furthermore, the regional market is expected to be driven by the adoption of mobile computing devices and smartphones.
Recent Developments
- In 2020, Johnson Controls has launched C•CURE. Install the Software House app. The new app makes it easier and more convenient to configure or update information on the iSTAR Ultra LT controller without having to physically access the unit.
- In 2020, ASSA ABLOY has purchased Biosite, a leading provider of biometric access control solutions to the UK construction industry. The acquisition will strengthen ASSA ABLOY’s current offering of access control solutions and provide complementary growth opportunities.
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The global electronic access control systems market is segmented as follows:
By Offerings
- Hardware
- Card-based Readers
- Biometric Readers
- Multi-technology Readers
- Electronic Locks
- Controllers
- Others
- Software
- Visitor Management System
- Database and Software Tools
- Services
- Installation & Intégration Services
- Support & Maintenance Services
By Access Control as a Service
- Hosted
- Managed
- Hybrid
By Vertical
- Commercial
- Enterprises & Data Centers
- BFSI
- Hotels, Stadiums, & Amusement Parks
- Retail Stores and Malls
- Military & Defense
- Government
- Residential
- Education
- Healthcare
- Manufacturing & Industrial
- Transportation
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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