Access Control and Authentication Market Size Growing at 11.4% CAGR Set to Reach USD 37.2 Billion By 2032
Acumen Research and Consulting recently published report titled “Access Control and Authentication Market Forecast, 2023 – 2032”
TOKYO, March 10, 2023 (GLOBE NEWSWIRE) — The Global Access Control and Authentication Market Size collected USD 14.4 Billion in 2022 and is set to achieve a market size of USD 37.2 Billion in 2032 growing at a CAGR of 11.4% from 2023 to 2032.
Access Control and Authentication Market Research Report Highlights and Statistics:
- The Global Access Control And Authentication Market Size in 2022 stood at USD 14.4 Billion and is set to reach USD 37.2 Billion by 2032, growing at a CAGR of 11.4%
- The growth is being driven by the increasing adoption of biometric technologies for identity verification and authentication purposes.
- For the healthcare sector, the growth is being driven by the increasing demand for secure and efficient access to patient records and medical equipment.
- The Asia Pacific region is expected to be the fastest-growing market for access control and authentication.
- Key players in the access control and authentication market include Assa Abloy, Honeywell International, NEC Corporation, Johnson Controls, Bosch Security Systems, Gemalto, Crossmatch, Suprema, HID Global, and IDEMIA.
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Access Control and Authentication Market Report Coverage:
| Market | Access Control and Authentication Market | |
| Access Control and Authentication Market Size 2022 | USD 14.4 Billion | |
| Access Control and Authentication Market Forecast 2032 | USD 37.2 Billion | |
| Access Control and Authentication Market CAGR During 2023 – 2032 | 11.4% | |
| Access Control and Authentication Market Analysis Period | 2023 – 2032 | |
| Access Control and Authentication Market Base Year | 2022 | |
| Access Control and Authentication Market Forecast Data | 2023 – 2032 | |
| Segments Covered | By Product, By Component, By End-User, And By Geography | |
| Access Control and Authentication Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | 3M Company, Allegion plc, ASSA ABLOY, Axis Communications, Bosch Security Systems, Genetec Inc., Honeywell Security Group, Identiv, Inc., Johnson Controls, Panasonic Systems Networks Co. Ltd, and Zhejiang Dahua Technology Co. Ltd. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Access Control and Authentication Market Overview:
Access control and authentication market is a rapidly expanding industry that encompasses a range of technologies and solutions aimed at ensuring secure access to physical and digital assets. It involves a wide range of applications, including biometric identification, smart cards, access control software, and electronic locks. The market is being driven by the increasing need for enhanced security in various industries such as healthcare, finance, retail, and government. Additionally, the growing trend of digitization is also driving the demand for advanced access control and authentication solutions to secure digital assets. Key players in the market are investing in research and development to create innovative and efficient solutions, including cloud-based access control and biometric authentication systems, which are expected to drive growth in the market in the coming years. With the increasing adoption of advanced security technologies and the need for secure access to physical and digital assets, the access control and authentication market is poised for good growth for the forecast period.
Trends in the Access Control and Authentication Market:
- Advancements in biometric technologies, such as facial recognition, gait recognition, and behavioral biometrics, for improved accuracy and security.
- Integration of access control and authentication systems with video surveillance, intrusion detection, and other security systems for a more comprehensive security solution.
- Introduction of voice recognition technology for authentication purposes.
- Adoption of zero trust security principles for enhanced security and reduced risk of data breaches.
- Increased adoption of mobile access control solutions, including mobile credentials and mobile biometric authentication.
- Expansion of the market to include wearable devices, such as smartwatches and fitness trackers, for authentication purposes.
- Adoption of multi-factor authentication for enhanced security, which may include a combination of biometric, smart card, and password-based authentication.
Access Control and Authentication Market Dynamics:
- Increased adoption of smart city technologies for authentication purposes to provide a safer and more secure urban environment.
- Growing demand for physical access control and authentication solutions in co-working spaces and shared workspaces
- Growing popularity of Internet of Things (IoT) devices, which require secure access control and authentication.
- Increasing focus on cybersecurity and data privacy regulations for access control and authentication solutions.
- Increasing concern for security and safety across various industries, including healthcare, finance, retail, and government.
- Need for secure access to digital assets, including data centers, cloud infrastructure, and online accounts.
Growth Hampering Factors in the Market for Access Control and Authentication:
- High initial investment costs associated with implementing access control and authentication solutions.
- Difficulty in integrating access control and authentication solutions with existing systems, especially legacy systems.
- Concerns over the privacy and security of biometric data.
- Complexity of managing and maintaining access control and authentication systems.
- Difficulty in managing and securing large amounts of user data, especially in cloud-based solutions.
- Dependence on reliable and stable network connectivity for effective functioning of access control and authentication systems.
- Resistance to change and reluctance to move away from traditional access control methods.
- Limited availability of skilled personnel to manage and maintain access control and authentication systems.
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Market Segmentation
By Component Type
- Hardware
- Reader
- Controller
- Serial Access
- IP Access
- Integrated Solution
- Software
- Service
- Maintenance and Support
- Installation and Integrations
- End User
- Government & Public Sector
- IT & Telecom
- Healthcare
- Manufacturing
- Education
- Residential & Commercial
- BFSI
- Retail
- Military & Defense
- Hospitality
- Others
Access Control and Authentication Market Overview by Region:
North America’s Access Control and Authentication market share is the highest globally, driven by the increasing demand for security solutions in the healthcare, finance, and government sectors. The United States is a major contributor to the growth of the market in North America, with a high level of adoption of advanced security technologies in various industries.
The Asia-Pacific region’s Access Control and Authentication Market share is also huge and is growing at the fastest rate, driven by the increasing adoption of smart city technologies and growing demand for mobile access control solutions. China is a major contributor to the growth of the market in Asia-Pacific, with a high level of adoption of advanced security technologies in various industries.
Europe is another key market for Access Control and Authentication, driven by the growing demand for cloud-based access control solutions and increasing adoption of biometric technologies. The United Kingdom, Germany, and France are major contributors to the growth of the market in Europe.
The South American and MEA regions have a smaller but emerging Access Control and Authentication market share, however it is expected to grow at a steady pace. Brazil, Mexico, and the United Arab Emirates are major contributors to the growth of the market in Latin America and the Middle East and Africa.
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Access Control and Authentication Market Key Players:
Some of the top players in the market include ASSA ABLOY AB, Johnson Controls International PLC, Honeywell International Inc., Bosch Security Systems, 3M Cogent, Inc., HID Global Corporation, NEC Corporation, Gemalto NV, Crossmatch Technologies, Inc., Identiv, Inc., Suprema Inc., Tyco International Ltd., NXP Semiconductors, Morpho (Safran), ZKteco Inc., Allegion plc, Fingerprint Cards AB, Giesecke+Devrient GmbH, IDEMIA, and Gunnebo AB.
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