Pune, India -- (SBWire) -- 03/14/2019 --The demand for security solutions is on a rise globally. Further, the growth in the number of SMEs adopting security systems has created growth avenues especially in the developing economies of the world. Presently, the access control solutions are increasingly being integrated for including other services and systems. Further, the increase in building automation and smart homes is opportunistic for the market. Many of the companies such as Gemalto, IDEMIA, IDEX Biometrics, and others are expanding and exploring ways for authenticating an individual using biometric-related information.
Rise in Security Concerns is Influencing the Growth of Access Control Enabling Overall Growth of Access Control Market at a CAGR Of 13.2%
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Biometric device integration has become a standard requirement for secure access control, thereby delivering greater security for non-transferable devices. Furthermore, the multi-factor authentication technology is increasingly gaining importance and has mainly targeted employee access in critical areas.
The increasing infrastructural spending in the emerging economies of Middle East and African regions is expected to create new growth avenues in the access control market. Further, the developments in IP-enabled devices and wireless technologies is opportunistic for the market growth. Wireless technologies are deployed with better flexibility for cost and time efficiency. The access controls using wireless technology are a great fit for both small as well as large businesses.
The market for access control globally has been segmented on the basis of type into three major segments including hardware, software, and services. The companies operating in the global access control market design and innovate robust products and solutions depending upon the requirements of the customers or clients. The global access control market is further bifurcated on basis of application as BFSI, residential, commercial, healthcare, government & transport, and others. The global market for access control is categorized on basis of five strategic regions namely; North America, Europe, Asia Pacific, Middle East and Africa, and South America.
The global access control market is experiencing an intense growth with regards to the investments, new product developments, and deployment for future in the current scenario and is anticipated to rise in the coming years. The market for access control consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced product to the customers.
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The key industry players operating in access control market globally include Gemalto N.V., Honeywell Security Group, Siemens Building Technologies, ASSA ABLOY AB, NEC Corporation, Johnson Controls International plc, AMAG Technology, Inc., Schneider Electric SE, Gallagher Group Ltd., and Identiv, Inc. among others. Several other participants are also operational in global access control market that offers customers with robust products and solutions, thereby catalyzing the demand of access control market.
The report segments the global access control market as follows:
Global Access Control Market - By Type
Hardware Market
Readers Market
Electronic Locks Market
Others Market
Software
Services
Global Access Control Market - By Application
BFSI
Residential
Commercial
Healthcare
Government & Transport
Others
Access Control Market Latest Trends, Demand and Advancement 2018 to 2025
The global access control market is anticipated accounted to US$ 6.05 Bn in 2017 and is expected to grow at a CAGR of 13.2% during the forecast period 2018 - 2025, to account to US$ 16.66 Bn by 2025.