Electronic Access Control Systems Market Applications, Segmentation and Forecast to 2023

Market Highlights:

Electronic access control systems market comprises all electromechanical hardware devices that prevent entry/ access to any premise. They are used across various fields such as commercial space, government spaces, and private residential spaces which require a high level of security. The global electronic access control system market is touted to reach USD 13.3 Bn at a CAGR of 8.53% over the forecast period of 2018-2023, predicts Market Research Future (MRFR) in its latest study.

The growing incidence rate of crimes such as thefts, break-ins, and other illegal activities have compelled various institutions to adopt Electronic Access Control System Market. Various commercial, as well as residential areas, are installing electronic access control systems market to prevent and minimize fraudulence and illegal activities. These systems provide various other advantages as well, which include burglar alarm system, fire, and carbon monoxide detection, and track the entry of employees and visitors. The need for electronic access control systems has increased in recent years in banks, data centers, hotels, retail stores, and others. Electronic access control systems, especially biometrics, are extensively integrated with existing payroll software which allows keeping a record of information related to attendance.

The integration of IoT in electronic access control systems market has created lucrative growth opportunities for the market. IoT based electronic access control systems can enhance the security of systems. In access control, intelligent locks, card readers, keypads, and other related devices are based on IoT and provide benefits such as easy access, improved integration, configuration, and tracking capabilities.

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On the contrary, the growth of the electronic access control systems market can be hindered by high costs aligned with the installation of access control systems and maintenance costs.

Competitive Landscape

The electronic access control system market is marked by the presence of various players including Johnson Controls International plc (Ireland), Nedap N.V.(Netherlands), Cansec Systems (Canada), Kisi Inc. (US), Identiv, Inc. (US), ASSA ABLOY AB (Sweden), AMAG Technology (US), Gunnebo (Sweden), NEC Corporation (Japan), Suprema HQ Inc. (South Korea), Vanderbilt Industries (US), Bosch Security Systems Inc. (US), Napco security Technologies (US), Honeywell Security Group (US), Time and Data Systems International (UK), Allegion plc (Ireland), Axis Communications (Sweden), Adman Technologies (India), IDEMIA (France), Brivo, Inc. (US), Salto Systems (Spain), Gallagher Group (New Zealand), dormakaba Holding AG (Switzerland), Gemalto N.V. (Netherlands)., and Lenel Systems International (US).

Segmentation

Electronic access control systems market is segmented based on component, vertical and region.

By component, the Electronic access control systems market is segregated into biometrics reader, card-based reader, multi-technology readers, electronic locks, and controllers.

On the basis of vertical, the market is segmented commercial spaces, military & defense, government, residential, education, healthcare, industrial, and others.

By region, the Electronic access control systems market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.

Regional Analysis

The global electronic access control systems market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of electronic access control systems market is done for North America, Europe, Asia-Pacific, and the rest of the world.

Asia-Pacific is estimated to register the highest CAGR during the forecast period. The growth in the region is attributable to factors including ongoing industrial development, rapid pace of commercialization, and rise in number of security systems implementation across varied commercial spaces. Furthermore, the rise in crimes rates in the region and growing government spending to enhance security systems in their premises also drive the growth of electronic access control systems market.

North America is expected to dominate the electronic access control systems market from 2018 to 2023 as the region has a sustainable and well-established economy and it is among the early adopter of latest technology. Furthermore, the presence of the leading manufacturers in the region further drive the electronic access control systems market in these regions.

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Intended Audience

  • Technology Investors
  • Research Institutes
  • Government and Defense Department
  • System Integrators
  • Distributors and Manufacturers of Electronic Access Control
  • Original Equipment Manufacturers
  • Raw material suppliers

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