The Latest Access Control Industry Statistics Explained
The global access control market size was valued at USD 8.2 billion in 2019.
The statistic suggests that the global access control market had a total market value of USD 8.2 billion in the year 2019. This figure represents the combined revenue generated by the various companies operating in the access control industry worldwide during that year. Access control systems are used for restricting and granting access to physical or digital spaces, such as buildings, rooms, or data networks, based on authentication and authorization. The market size indicates the overall economic significance and growth potential of the access control industry, reflecting the demand for security and control solutions in both residential and commercial settings.
The market is anticipated to grow at a compound annual growth rate (CAGR) of 7.7% from 2020 to 2027.
The statistic that the market is expected to grow at a compound annual growth rate (CAGR) of 7.7% from 2020 to 2027 indicates that the market is projected to increase by an average of 7.7% each year over this period. The CAGR takes into account the compounding effect, meaning that the growth rate is applied to the base amount every year, leading to an accelerating growth trajectory. This statistic suggests a positive outlook for the market, with a steady and consistent rate of expansion over the specified timeframe, which can be important for decision-making, strategic planning, and investment considerations.
The adoption of access control systems in small and medium-sized enterprises (SMEs), hospitality businesses, airports, ATMs, banks, residential buildings is expected to significantly enhance the market growth.
This statistic highlights the anticipated positive impact that the adoption of access control systems will have on various sectors such as small and medium-sized enterprises (SMEs), hospitality businesses, airports, ATMs, banks, and residential buildings. Access control systems are designed to regulate and restrict access to physical and digital spaces, thereby bolstering security measures and safeguarding assets and information in these industries. By embracing these systems, businesses and organizations can enhance their overall security posture, protect confidential data, mitigate risks of unauthorized entry, and comply with regulatory requirements. The expected market growth suggests a growing recognition of the importance of access control systems in safeguarding assets and ensuring the safety and security of people and information in a variety of settings.
The card and reader technology held over 60% market share in 2019.
This statistic indicates that in 2019, the combination of card technology and reader technology collectively dominated the market, accounting for more than 60% of the total market share. This suggests that the use of cards and corresponding card reader devices was prevalent and widely adopted by consumers and businesses during that year. The high market share percentage signifies the significance and popularity of these technologies within the industry, showcasing their widespread usage and acceptance in various sectors such as finance, retail, and technology.
Software/Services segment is expected to expand at a CAGR of 8.7% over the forecast period (2020-2027).
This statistic indicates that the Software/Services segment is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period spanning from 2020 to 2027. A CAGR of 8.7% suggests a steady and substantial increase in the revenue or market size of the Software/Services industry over the specified time frame. This growth rate signifies a positive trend and implies that there is increasing demand for software and services within this sector, potentially driven by technological advancements, evolving consumer needs, or other market dynamics. Overall, the forecasted expansion at a CAGR of 8.7% highlights the growth potential and attractiveness of the Software/Services segment for investors, businesses, and other stakeholders.
As per Technavio, the commercial sector held the largest access control market share in 2019.
The statement indicates that in 2019, the commercial sector, which includes businesses, office buildings, and retail establishments, accounted for the highest proportion of the access control market compared to other sectors such as residential, industrial, or government. This finding as reported by Technavio implies that businesses within the commercial sector were the most significant users or purchasers of access control systems and solutions during that year. Access control systems help regulate and monitor entry and exit to premises, enhance security, and manage the flow of people within a facility. The commercial sector’s dominance in the access control market suggests a strong demand for security and access management solutions among businesses in various industries for safeguarding their premises, assets, and personnel.
In 2020, the combination of IoT and access control will drive up the market considerably.
The statistic suggests that in 2020, the market for IoT (Internet of Things) technology combined with access control systems is expected to experience significant growth. This indicates that the integration of IoT capabilities with access control solutions like smart locks and biometric systems will result in increased adoption and demand for such products and services. The synergy between IoT and access control is likely to drive innovation, efficiency, and improved security measures in various industries such as smart homes, healthcare facilities, and commercial buildings. The statistic highlights the potential for this trend to reshape the market landscape by providing more advanced and convenient solutions for controlling and monitoring access to physical spaces.
The hardware segment dominated the access control system market with a share of over 70% in 2019.
The statistic indicates that in 2019, the hardware component of access control systems held a significant market share of over 70%, signifying its dominance in the industry. This suggests that physical devices such as card readers, biometric scanners, and control panels played a vital role in access control solutions during that period. The high market share of the hardware segment implies the importance of these tangible components in providing secure and efficient access control measures for various applications, including commercial, residential, and industrial settings.
The residential vertical is projected to grow at a high CAGR during the forecast period (2020-2025) in the access control market.
The statistic indicates that the residential vertical, which refers to the housing sector, is anticipated to experience significant growth in terms of Compound Annual Growth Rate (CAGR) within the access control market from 2020 to 2025. This projection suggests that there will be a notable increase in demand for access control solutions within residential settings over the specified forecast period. Factors such as increasing awareness of security, technological advancements in access control systems, and the rising trend of smart home integration are likely drivers behind this upward trajectory. The high CAGR forecast implies a strong growth trajectory for the residential vertical in the access control market, making it an attractive segment for stakeholders and businesses operating in this industry.
The Fingerprint recognition technology segment is projected to hold the largest share of the biometric system market during the forecast period.
The statistic suggests that within the biometric system market, the Fingerprint recognition technology segment is expected to dominate in terms of market share over the forecast period. This indicates that fingerprint recognition technology is likely to be the most widely adopted and utilized form of biometric authentication among businesses and consumers. Factors contributing to this projection could include the widespread integration of fingerprint scanners in smartphones, increasing security concerns driving the demand for reliable authentication methods, and the proven accuracy and reliability of fingerprint recognition technology compared to other biometric modalities. Overall, this statistic highlights the significant potential for growth and adoption of fingerprint recognition technology in the biometric system market in the foreseeable future.
Commercial sector is projected to hold the largest share of the access control market in 2020.
The statistic indicates that in the year 2020, the commercial sector is expected to have the highest portion of market share within the access control industry compared to other sectors. Access control systems are employed to manage and regulate entry to buildings, areas, or resources, usually through the use of security measures like keycards, biometric scanners, or password systems. The dominance of the commercial sector in this market suggests that businesses, office buildings, and other commercial establishments are likely to be the primary adopters of access control technology in the given year, showcasing the importance of security and controlled access in these environments.
By 2026, the global access control market is forecast to reach a size of 19.8 billion USD.
The statistic “By 2026, the global access control market is forecast to reach a size of 19.8 billion USD” indicates the projected value of the access control market worldwide by the year 2026. Access control systems are utilized in various industries to regulate entry to physical spaces or sensitive information, enhancing security measures. The forecasted market size of 19.8 billion USD suggests a significant growth opportunity for companies operating in the access control sector, driven by factors such as technological advancements, increasing concerns over security, and the rising adoption of smart devices and IoT (Internet of Things) solutions. This statistic serves as a valuable insight for businesses, policymakers, and investors looking to capitalize on the expanding market potential within the access control industry.
The access control market in Latin America is projected to grow at the highest CAGR during the forecast period.
This statistic indicates that the access control market in Latin America is expected to experience the highest Compound Annual Growth Rate (CAGR) among all regions over a specific forecasted period. This suggests that the demand for access control technologies and solutions, such as biometric systems, smart cards, and electronic locks, is projected to increase significantly in Latin America compared to other geographic regions. Factors driving this growth may include rising security concerns, increasing adoption of advanced access control systems in various industries, and expanding urbanization leading to the need for more secure and efficient access control measures in the region. This projected growth in the Latin American access control market signifies potential opportunities for businesses operating in the security industry to expand their presence and cater to the increasing demand for innovative access control solutions in the region.
The global access control market was led by the Asia pacific in 2018 with 37.7% of the market share.
This statistic indicates that in 2018, the Asia Pacific region dominated the global access control market with a market share of 37.7%. This suggests that a significant portion of access control system sales, implementation, and usage occurred in countries within the Asia Pacific region compared to other regions across the world. Factors such as increasing urbanization, growing adoption of advanced technologies, and a focus on enhancing security measures may have contributed to the Asia Pacific region’s strong performance in the access control market. This statistic highlights the region’s importance in the global access control industry and serves as an indication of the region’s influence on the overall market trends and developments.
North America is predicted to reach a value of USD 6.72 Billion in terms of revenue by 2026.
This statistic indicates a forecasted revenue value of USD 6.72 Billion for North America by the year 2026. This prediction suggests that there is expected growth in the economic activity or market size within North America over the specified time frame. The figure of USD 6.72 Billion represents the total potential revenue generated across various industries or sectors within North America, showcasing the economic prosperity and opportunities present in the region. It serves as a valuable indicator for businesses, policymakers, and investors to understand the potential market size and financial benefits that North America may offer in the coming years.
Access control systems constitute 24% of the entire building security system market.
The statistic that access control systems make up 24% of the entire building security system market indicates that almost a quarter of the market share within the building security industry is attributed to access control systems. This suggests that access control systems, which regulate and monitor entry to secure areas within buildings through technologies such as keycards or biometric scanners, are a significant component of overall building security solutions. The high percentage indicates a substantial demand and adoption of access control systems by commercial, residential, and industrial properties seeking to enhance their security measures. This statistic underscores the importance and prevalence of access control systems as a key player in the broader building security market.
Electronic access control system (EACS) market is set to exceed USD 31 billion by 2024.
The statistic indicates that the Electronic Access Control System (EACS) market is projected to reach a value exceeding USD 31 billion by the year 2024. This suggests a substantial growth in the market for electronic access control systems, which are technologies designed to restrict access to certain locations or resources through electronic means such as swipe cards, biometric scans, or keypads. The increasing adoption of EACS in various industries, such as commercial, industrial, residential, and government sectors, due to factors like increasing security concerns, technological advancements, and regulatory requirements, is likely driving this significant market growth projection. The forecasted value of over USD 31 billion signifies a robust market demand and growth potential for electronic access control systems in the coming years.
References
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2. – https://www.www.technavio.com
3. – https://www.www.statista.com
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6. – https://www.www.alliedmarketresearch.com
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