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How Big Is The Global Access Control Market Expected To Grow?
The access control market size has grown rapidly in recent years. It will grow from $13.69 billion in 2024 to $15.07 billion in 2025 at a compound annual growth rate CAGR of 10.1%. The growth in the historic period can be attributed to the increased use of mobile access control systems and government investments to prevent the increasing number of cyber-attacks.
What Is Its Annual Growth Rate?
The access control market size is expected to see rapid growth in the next few years. It will grow to $26.43 billion in 2029 at a compound annual growth rate CAGR of 15.1%. The growth in the forecast period can be attributed to the increasing number of smart homes, the expanding adoption of access control by the hospitality sector, and the uptick in data security breaches. Major market trends in the forecast period include: a focus on launching cloud-based access control systems for market growth, the introduction of mobile-based access control solutions to sustain market position, working with hotel partners to facilitate guest keys in digital wallets for easier access, incorporation of AI facial recognition technology, launching biometric access control systems to improve product offerings, and a focus on launching innovative products in the access control market to strengthen product portfolios.
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What Is Driving The Growth Of The Access Control Market?
The access control market is expected to be supported by rapid growth in the number of smart homes in the forecast period. A smart home is a residence that uses Internet-connected devices to enable the remote monitoring and management of appliances and systems. Access control provides both home security and home automation.
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Which Leading Companies Are Driving The Growth Of The Access Control Market Share?
Major companies operating in the access control market include Honeywell International Inc, Robert Bosch GmbH, Assa Abloy AB, Johnson Controls International Inc, Thales Group, Allegion PLC, Hangwa Techwin Co. Ltd, Schneider Electric SE, NEC Corporation, IDEMIA, Matrix comsec, SecurAX Tech Solutions Pvt Ltd, AMAG Technology Inc, Cloudwalk Technology Co Ltd, Shenzhen IntelliFusion Technology Co Ltd, and many more.
What Are The Key Trends Of The Access Control Market?
Major companies operating in this market are focusing on technological advancement such as smart access control solutions to enhance security, streamline user management, and integrate seamlessly with other security systems. Smart access control solutions utilize advanced technologies to enhance security and streamline access management.
How Is The Global Access Control Market Segmented?
Taking a Closer Look at Access Control Market Segmentation
The access control market covered in this report is segmented:
1 By Type: Card Based, Biometric Based
2 By Vertical: Commercial, Military And Defense, Government, Residential, Education, Healthcare And Others, Manufacturing And Industrial, Transportation, Hospitality
3 By Deployment Model: Cloud, On-Premises
Subsegments:
1 By Card-Based: Magnetic Stripe Cards, Proximity Cards, Smart Cards, RFID Cards
2 By Biometric-Based: Fingerprint Recognition, Facial Recognition, Iris Recognition, Voice Recognition, Hand Geometry Recognition
What Are The Leading Region In The Access Control Market?
Asia-Pacific was the largest region in the access control market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, the USA, Italy, Spain, and Canada.
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