Access Control Market Size, Share, Growth Analysis, By Offering (Hardware, Software), By Type (Discretionary Access Control, Mandatory Access Control), By End User, By Region - Industry Forecast 2024-2031

Access Control Market Driver

Growing Proliferation of Multifactor and Multimodal Authentication to Transform Access Control System’s Landscape

• A critical component of digital access is evolving into the multifactor and multimodal authentication system. With the rise in security requirements, multifactor authentication is receiving a lot of attention. Physical security based on a two-factor authentication system is crucial in a variety of sectors, including the oil and gas, utility, electricity, and other vital infrastructure. Customers in the business sector that require a high level of security are becoming more and more familiar with the multifactor authentication method. The need for a two-factor authentication system has grown as a result of the introduction of multimodal readers that enable pin-pad, mobile, biometrics, and key cards all in one device. The system's high level of security and ease of network access go hand in hand. 

Access Control Market Restraint

High Initial Setup Cost  

• There are several access control technology choices with a wide range of features and advantages. Smart cards, keypads, biometric systems, and smartphone systems are only a few examples of systems displaying their price variation. Systems using physical keys-based locks may not have large costs. However, changing or rekeying the locks might result in large additional costs. Additionally, adding additional protection layers may increase the system's overall cost. Due to the additional degree of protection and functionality they provide, these systems—which include biometrics, card-based systems, intercom or buzzer systems, and others—have a greater initial cost. High system costs might therefore have an impact on adoption as a whole.