USD 25.24 billion
Report ID: SQSG20O2003 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Access Control and Authentication Market size was valued at USD 25.24 billion in 2021 and is expected to reach USD 53.40 billion by 2028, at a CAGR of 11.3% during the forecast period (2022-2028).
Access control and authentication systems are electronic devices used to control network-based unauthorised access to specific locations. The system's primary purpose is to control, authenticate, identify, and grant a person access to the building. These systems are primarily in charge of limiting access to a location in a selective manner. They are created to monitor people and objects, control their access, and prevent unauthorised access to any property or information. The investigation and prevention of crimes that are certain to occur in multiplexes, malls, airports, banks, ATMs, and casinos are carried out using these controlling tools.
Governments and regulatory bodies have imposed security-related policies and regulations, which have encouraged businesses and organisations to invest more money in security. These systems support the management of access, privileges, passwords, network services, user authentication for remote connections, equipment/location identification, and remote diagnostics and configuration in commercial organisations. Access control and authentication systems are becoming more widely used as a result of rising security and safety concerns and regulations.
Global Market Size
USD 25.24 billion
Residential, goverment & defense
Residential, goverment & defense
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Global Access Control and Authentication Market is segmented on the basis of component, technology, enterprise size, access control as a service, application, and region. According to component, the market is segmented into hardware, software and services. On the basis of technology, it is segmented into biometrics, smart card, electronic doors & locks, and magnetic strips. According to enterprise size, the market is bifurcated into small and medium enterprises and large enterprises. On the basis of access control as a service, the market is segmented into hosted, managed and hybrid. According to application, the market is divided into residential, government & defence, BFSI, IT & telecom, retail & Ecommerce, healthcare, travel and tourism, manufacturing, education, and others. Based on the region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Technology
In 2021, the access control and authentication market is dominated by the biometrics technology segment. Using biometrics, it is possible to control physical access to an infrastructure by recognising a person by their physical traits. The significant market share of this sector is primarily attributable to its higher adoption in advanced security devices, growing demand for high-level security and access management applications, consistent technological advancements coupled with rising investment, and rising demand in line with the growing customer acceptance. Additionally, voice and facial recognition is a biometrics technology that is non-contact, non-intrusive, and simple to use. The demand for biometric readers will increase during the predicted period due to the contactless technique of identification and authentication of an individual.
Analysis by Application
Residential, government and defence segment registered the highest market share in the global access control and authentication market in 2021 and is expected to maintain its dominance during the forecast period. The significant market share of this sector is primarily attributable to rising safety consciousness, growing demand for superior high-level access control systems for numerous premises & buildings, expanding smart city initiatives around the world, and quickly rising access control and authentication (ACA) device adoption in numerous residential and commercial organisations. Security is a big worry for people, residential complexes, and private residential buildings as the prevalence of theft and burglary increases globally. People can access smart houses using biometric or non-biometric technology, such as numeric codes. Further contributing to this segment's fastest growth are elements including rising security system investment, rising theft rates, and expanding network infrastructure.
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Asia-Pacific region held the largest market share of approximately of the Global Access Control and Authentication Market in 2021 and is also anticipated to witness the fastest growth during the forecast period. The existence of rapidly growing economies, consistent ACA technology developments, and government ambitions to integrate ACA technologies in a range of public services are the key drivers of growth in this region. The increased use of cutting-edge technologies, including artificial intelligence, the Internet of Things, and biometric recognition technology, as well as the accessibility of ACA devices and the presence of several startups and leading companies in this region are all factors that are fueling the expansion of the market in the Asia Pacific region. The commercial, military & defence, government, and industrial verticals are the primary drivers of the market in Asia-Pacific. It is also anticipated that there will be a large demand for these systems due to the rising risks of terrorism, crime, and poor police-to-population ratios in Asia-Pacific countries.
North America has the second largest share for the access control and authentication market. This can be attributed to high government investments for public security. Furthermore, the rising security concerns and considerable technical breakthroughs is probably fuelling the demand for intelligent security solutions in this region.
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Despite the fact that all access control and authentication solutions guarantee the organization's security, their initial investment costs are also substantial. The deployment, setup, and maintenance of this equipment can be very expensive. Hence factors like lack of knowledge and high costs associated with modern security solutions are responsible constraining Global access control and authentication market expansion.
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Global Access Control and Authentication Market is fragmented due to the presence of a number of global and local players. Major players in the global market adopt prominent strategies to overcome competition and maintain their market share globally. Key players include 3M Company, Bosch Security Systems, Honeywell International, Inc., and Morpho Safran, Inc. In order to create and implement new, more effective technologies in the access control and authentication market, established businesses are involved in a variety of research and development activities and efforts.
Top Players Company Profiles
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According to our Global Access Control and Authentication Market analysis, strict government regulations, rising investments, especially in the education, public sector, healthcare, and banking industries, and ongoing technological advancements in ACA technology are all contributing to the growth of the market. These factors, as well as rising consumer demand for modern ACA devices, include fingerprint recognition, face recognition, IRIS recognition, voice recognition, and smart card technology. Additionally, the market's current players are making investments in the advancement of biometric technology, which affects the market expansion.
|Market size value in 2021||USD 25.24 billion|
|Market size value in 2028||USD 53.40 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Access Control And Authentication Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Access Control And Authentication Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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