The global market for access control is projected to reach approximately US$ 6.05 billion in 2017, with expectations to expand at a compound annual growth rate (CAGR) of 13.2% from 2018 to 2025, ultimately totaling around US$ 16.66 billion by 2025. Access control systems are designed to manage authorization, identification, authentication, access approval, and accountability of users through various login credentials, which may include biometric scans, passwords, personal identification numbers (PINs), and both physical and electronic keys.
In recent years, the security sector has undergone significant transformations. Notably, access control has emerged as the fastest-growing segment within the physical security industry. This growth can be attributed to the shift from traditional proprietary systems to more open Internet Protocol (IP) solutions, which have led to improvements in product performance and management capabilities. Currently, access control solutions are increasingly being integrated with other services and systems. Additionally, the rise of building automation and smart home technologies presents new opportunities for the access control market. Companies such as Gemalto, IDEMIA, and IDEX Biometrics are actively exploring innovative methods for authenticating individuals through biometric data.
However, the advancement of access control technologies has also heightened the risk of security breaches, including the illicit hacking of biometric data such as fingerprints, which can compromise sensitive information. This situation underscores the urgent need for government agencies to implement more robust access control solutions to mitigate these risks. Government initiatives aimed at creating safe and secure urban environments to protect infrastructure, facilities, and populations are expected to drive demand for access control systems. Furthermore, governments are increasingly investing in video surveillance systems in public areas to uphold law and order and reduce crime rates.
In the United States, the population enjoys a high standard of living, characteristic of a developed economy. The high per capita income leads to increased consumer spending, resulting in greater adoption of security measures such as video surveillance cameras and locks in both commercial and residential settings. This elevated disposable income is likely to further fuel the demand for video surveillance systems, thereby positively impacting the access control market. The combination of a high standard of living and growing safety concerns among individuals, businesses, and industries is expected to accelerate the growth of the access control market. The U.S. holds a dominant position in the North American access control market, driven by rising concerns over crime rates. The increasing emphasis on security measures has spurred the development of advanced technological solutions.
Key players in the access control market include Gemalto N.V., Honeywell Security Group, Siemens Building Technologies, ASSA ABLOY AB, NEC Corporation, Johnson Controls International plc, AMAG Technology, Inc., Schneider Electric SE, Gallagher Group Ltd., and Identiv, Inc., among others. Numerous other companies are also active in the access control sector, introducing new technologies and solutions that contribute to the market's growth in terms of revenue.