Access Control And Authentication Market Size, Share, Growth Analysis, By Component(Hardware, Software, Services), By Technology(Biometrics, Smart Card, Electronic Doors & Locks, Magnetic Strips), By Enterprise Size(Small & Medium, Large), By Access Control as a Service(Hosted, Managed, Hybrid), By Application(Residential, Government & Defence, BFSI, IT & Telecom), By Region - Industry Forecast 2024-2031

Access Control And Authentication Market size was valued at USD 12.91 billion in 2019 and is poised to grow from USD 14.4 billion in 2023 to USD 37.2 billion by 2031, growing at a CAGR of 11.4% in the forecast period (2024-2031).

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.

US Access Control And Authentication Market is poised to grow at a sustainable CAGR for the next forecast year.