Access Control Market Growth to be Worth $17.4 Bn by 2030

Access Control Market Growth to be Worth $17.4 Bn by 2030

Meticulous Research® has published a new report forecasting that the Access Control Market will reach $17.4 billion by 2030, growing at a CAGR of 9.6% from 2023 to 2030. Access control systems are crucial for cybersecurity and physical security, protecting organizational assets, data, and intellectual property, and ensuring regulatory compliance. Effective access control involves technology, policies, and user awareness to prevent unauthorized access. The market is driven by the rising demand for advanced access control devices, heightened safety and security concerns, and the proliferation of smart home projects globally. Trends like cloud-based access control systems and wireless access controls are anticipated to create significant growth opportunities for market stakeholders, though the high initial costs of deployment could pose challenges.

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Key players in the global access control market include Johnson Controls International plc, Honeywell International Inc., Identiv, Inc., Suprema Inc., Bosch Sicherheitssysteme GmbH, Genetec Inc., NEC Corporation, Assa Abloy, dormakaba International Holding AG, Allegion plc, Nedap N.V., Thales, IDEMIA, Axis Communications AB, and Dahua Technology Co., Ltd.

Additionally, limited awareness of advanced security solutions in developing regions and ongoing security issues may hinder market growth. The adoption of access control as a service (ACaaS), increasing use of smartphones for access control, and the rise of contactless biometric access devices are notable market trends.

The global access control market is segmented into hardware, software, and services. In 2023, hardware is expected to dominate the market, driven by the adoption of biometric devices, cards, electronic locks and doors, and hybrid devices. The use of these systems in offices, government buildings, airports, hospitals, and military facilities, coupled with urbanization and the growth of smart homes, supports this segment's dominance. An example includes San Diego International Airport's implementation of Identiv's access control ecosystem in February 2023.

However, the services segment is anticipated to grow at the highest CAGR due to organizations' need for visibility in diagnosing and troubleshooting issues, ensuring the optimal utilization of access control solutions through technical support and upgrades. The increasing deployment of access control solutions and demand for pre- and post-deployment services further drive this segment’s growth, encompassing authentication, authorization, auditing, and monitoring.

By end-user, the market is divided into residential, commercial, and industrial segments. The commercial segment is expected to lead in 2023, driven by the deployment of access control systems in government facilities, the hospitality sector’s use of smart cards, and enterprise-level access control solutions. HID Global Corporation's partnership with Ghelamco Group to implement access control solutions in Warsaw, Poland, highlights this trend. The commercial segment is also projected to witness the highest growth rate, fueled by advancements in security technology and the development of tailored solutions for commercial users, as seen in Anviz Global Inc.'s launch of next-generation access control solutions in July 2023.

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Geographically, Asia-Pacific is predicted to hold the largest market share in 2023, due to rapidly developing economies, technological advancements in access control solutions, and increased usage in airports and railway stations. Government initiatives to implement access control for employee attendance tracking also contribute. For instance, IDEMIA's provision of biometric solutions to Singapore Changi Airport in March 2022 exemplifies regional growth drivers. Asia-Pacific is also expected to register the highest CAGR, driven by the adoption of biometric recognition technology and ongoing technological advancements, such as NEC Corporation’s development of a Gateless Access Control System in November 2022.

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