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The access control reader market size is estimated to grow by USD 809.26 million at a CAGR of 6.6% between 2022 and 2027. Access control readers enable technologies like proximity cards, smart cards, and contactless mobile credentials to provide verified employees access to several buildings. One can manage the staff members who have access to a facility by using this access control system. The growth of the market depends on several factors, including rising cyberattacks, malware infections, and other frauds, increased adoption and implementation of the mobility phenomenon and BYOD, and penetration of the Internet and wireless network infrastructure.
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The rising cyberattacks, malware infections, and other frauds are notably driving the market growth, although factors such as interoperability issues may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising cyberattacks, malware infections, and other frauds are notably driving market growth. The need for connected systems has increased, as a result of an increase in fraud and theft, particularly in data centers, enterprises, banks, financial institutions, retail stores, malls, hotels, and entertainment studios. The demand for wired access control systems for remote-accessible houses is rising as smart home technologies become more widespread. The need to enhance protection while reducing costs has become increasingly important across a variety of industries as the complexity and sophistication of fraud, cyberattacks, and government identification requirements develop.
Additionally, it is anticipated that the preference for wireless and IoT-based security systems in various applications, rising demand for an interconnected system, and quick urbanization will increase the demand for contactless interfaces and enhanced authentication, which, in turn, will drive the growth of the market during the forecast period.
Growing innovations and implementations in the market will drive the growth. The market is witnessing innovations and advancements as businesses are increasingly implementing multifactor identification. It is a security mechanism requiring the user to submit two kinds of identity to get access, such as entering a PIN and swiping a card.
While many access control systems only require one type of authentication, multifactor identification requires the user to provide two forms of identification. To guarantee the security of both physical and digital credentials, a variety of factors must be combined. This will drive the growth of the market trends during the forecast period.
One of the key challenges the market is anticipated to face during the forecast period is interoperability. The system requires the manufacturers in the market to be able to communicate with one another and the access control systems to which they are connected. It is challenging for various systems to work together due to a lack of industry standards. This causes compatibility problems and makes it challenging for customers to combine goods from various manufacturers.
To solve this problem, industry organizations are attempting to develop standards and protocols that will ensure interoperability. Access control systems will become more functional and secure overall as a result, and customers will be able to choose the finest products for their requirements, regardless of the manufacturer. Interoperability is therefore anticipated to restrain market expansion during the forecasted period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Nice SpA - The company offers access control reader products such as BT135-W, BT125-W, and NBT125-W as its key offerings.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market share growth of the card-based readers' segment will be significant during the forecast period. Card-based reader technology is gaining traction due to its simplicity of use and affordability when compared to other technologies. The technology is extensively utilized in various end-use industries, including transportation, government, and commercial. The market is further expanding as a result of the rising demand for access control systems and the requirement to improve the management of people's entry and exit from these industries.
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The card based readers' segment was valued at USD 1,771.72 million in 2017 and continued to grow until 2021. Cloud-based access control systems help in remotely monitoring and managing exit and entry points, thereby securing the overall establishment. Card-based reader technology, due to its simplicity of use and affordability, will continue to dominate the market.
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APAC is estimated to contribute 31% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to Companies is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is an early adopter of technologies and leads the world in terms of fast growth and the consumption of advanced technologies. The region has a completely developed industrial framework and is technologically stable. The rapid rate of technology acceptance and overall maturity of various industries has led to an increase in the demand for access control readers. The strong presence and penetration of top Companies, along with stringent compliance standards, contribute to the overall market growth. In addition, advanced economies, such as the US and Canada, are expected to continue to drive market growth in the region.
The global Access Control Reader Market experiences a surge driven by the demand for smart home solutions and security enhancements across industry sectors. Companies like Allegion lead the market, catering to the preferences of millennials who seek modernized access control systems. However, user security concerns persist due to data breaches and privacy issues, highlighting the need for robust security features. Advancements in RFID and biometric technologies offer promising solutions, yet users' limited awareness poses a challenge. Governments focus on improving security features, combating hackers through measures like artificial neural networks. Regulatory frameworks, including trade regulations and import-export analysis, shape market dynamics. Technological innovations drive strategic market growth, with emphasis on product approvals, launches, and geographic expansions to tap into emerging revenue pockets and capitalize on application niches. Analyst briefs provide insights into market trends and growth projections.
The market forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Access Control Reader Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.6% |
Market growth 2023-2027 |
USD 809.26 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.88 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 31% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allied Universal, Anviz Global Inc., Atlas Copco AB, Axis Communications AB, Bell System Telephones Ltd., Brivo Inc., Genetec Inc., HID Global Corp., Honeywell International Inc., Johnson Controls International Plc., Nice SpA, Remsdaq Ltd., Salto Systems SL, Samsung Electronics Co. Ltd., sesamsec GmbH, Third Millennium Systems Ltd., Vanderbilt International GmbH, WaveLynx Technologies Corp., ZKTeco USA, and Zucchetti Axess Spa |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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