In 2022, the global Electronic Access Control Systems Market was expected to be worth USD 39 billion. According to projections, the market for electronic access control systems will increase from USD 65 billion in 2023 to USD 106 billion by 2030, growing at a compound annual growth rate (CAGR) of 10% throughout the forecast period (2023 – 2030).
The primary market factors accelerating market expansion are the international government organisations increasing their spending in security solutions.
The Electronic Access Control Systems Market is greatly influenced by the escalating security concerns in several companies. Both business and residential locations frequently experience theft breaches and break-ins. As a result, more sophisticated security solutions are becoming necessary. Electronic access systems are widely adopted because of their convenience. It is a superb security solution appropriate for a variety of uses. In the following years, the EACS Market installation will continue to expand. The likelihood of crime increasing is predicted over the upcoming years. Individuals can be given a safe atmosphere thanks to electronic access.
Via a modern access control system, only authorised and private access is possible inside a building.
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Electronic Access Control Systems Market Key Players:
Axis Communications, Lenel Systems International, Time and Data Systems International, AMAG Technology, Gunnebo, and other significant market participants, such as Johnson Controls International plc, Allegion plc, Honeywell Security Group, Identiv, Inc., Nedap N.V., Suprema HQ Inc., Bosch Security Systems Inc., Gemalto N.V., NEC Corporation, IDEMIA, FINGERPRINTS, and others, are supporting
Electronic Access Control Systems Market Regional Perspectives
The analysis offers Electronic Access Control Systems Market information for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. Due to its huge and constantly expanding population, rising urbanisation, and rising need for sophisticated and secure access control solutions, Asia Pacific is anticipated to play a significant geographical role in the market for electronic access control systems. The need for electronic access control systems in the Asia Pacific area is also being driven by the region’s growing emphasis on security and surveillance, notably in the commercial and governmental sectors.
Due to its large and constantly expanding population, rising urbanisation, and rising need for sophisticated and secure access control solutions, the Asia Pacific region is anticipated to play a significant role in the global market for electronic access control systems over the forecast period.
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Electronic Access Control Systems Market Segment Insights
Component insights for electronic access control systems.
Biometrics Reader, Card-Based Reader, Multi-Technology Readers, Electronic Locks and Controllers are some of the components that make up the market segmentation for Electronic Access Control Systems. The Electronic Access Control Systems market revenue in 2022 was dominated by the Biometrics Reader segment. To identify people and authorise access, biometric readers employ personal traits like fingerprints, iris scans, and face recognition. The need for biometric access control systems is anticipated to rise as biometric technology develops and becomes more reasonably priced, which will further fuel the expansion of the biometrics reader segment. The use of smart homes is likely to increase, while security and surveillance awareness are predicted to rise, fueling demand for biometric access control systems.
Overall, due to its high degree of security and simplicity, as well as its expanding use in a variety of end-use sectors, the biometrics reader segment is likely to continue to dominate the Electronic Access Control Systems market throughout the forecast period.
Vertical Perspectives on Electronic Access Control Systems
The Commercial Spaces, Military & Defense, Government, Residential, Education, Healthcare, Industrial, and Others vertical Electronic Access Control Systems Market segmentation of Electronic Access Control Systems. Residential was the market’s largest sector in 2022 and is anticipated to grow at the fastest rate from 2023 to 2030. The use of smart homes is rising, and homeowners are becoming more conscious of the need of home security.
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The demand for electronic access control systems that work with other smart home gadgets and offer remote access and control is anticipated to rise as more individuals make investments in smart home technology. They all have a favourable effect on the market expansion for electronic access control systems.
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