Global Access Control Market Forecasts Show 7.49% CAGR Growth to 2021 led by Electronic Locks

Jul 25, 2016, 04:00 ET from ReportsnReports

PUNE, India, July 25, 2016 /PRNewswire/ --

The access control market growth is directly linked with urbanization and technological developments, while North America is expected to account for the largest regional market share during the forecast period of 2015-2022. Electronic locks are projected to be the fastest-growing segment of the access control market.

Complete report on access control market across 177 pages, profiling 18 companies and supported with 67 tables and 72 figures is now available at http://www.reportsnreports.com/reports/344392-access-control-market-by-product-cards-readers-biometrics-controllers-management-software-application-commercial-residential-military-defense-government-industrial-healthcare-education-by-geography-global-forecast-analysis-to-2020.html .

The access control market was valued at USD 5.92 billion in 2015 and is expected to reach USD 9.80 billion by 2022, at a CAGR of 7.49% between 2016 and 2022. This growth can be attributed to the increased security threats across the world, growing urbanization, and technological developments in the access control market.

The market for electronic locks is expected to grow at a faster rate over other readers in the access control market. The is primarily due to reduced cost, increased convenience of not carrying any separate credential such as cards or key fobs. It also enables the users to monitor and operate remotely and transfer the credential over the mobile phones. These additional features are driving the market for electronic locks for the access control systems. Electronic locks are majorly adopted in the commercial & services and residential applications.

North America is expected to hold the largest share of the total access control market in 2016. The stable construction market in North America and technological developments are driving the North American market. In addition, the consumer shifting toward digital, interconnected environment also drives the North American access control market.

The residential application is expected to grow at a faster rate over other applications in the access control market. This is due to the increasing demand for access control systems to minimize unauthorized access, to prevent invasion and burglary in residential properties. In addition, the residential properties are increasingly adopting electronic lock-based access control systems due to its convenience and its less cost over other access control readers. Further, increased trend for home automation is supporting the access control market to grow.

Some of the major players in this market are Assa Abloy AB (Sweden), Tyco International Plc (Ireland), Dorma + Kaba International Holding AG (Switzerland), Allegion Plc (Ireland), Honeywell Security Group (U.S.), Siemens Building Technologies (Germany), Amag Technology, Inc. (U.S.), Identiv, Inc. (U.S.), Crossmatch Technologies, Inc. (U.S.). Gemalto N.V. (Netherlands), Gunnebo Group (Sweden), Morpho SA (France), and NEC Corporation (Japan). Order a copy of Access Control Market by Type (Hardware, Software & Services), Hardware (Magnetic Stripe, Proximity & Smart Cards, Biometrics, Electronic Locks (Electromagnetic, Electric Strike, Wireless), Controller/Server, Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=344392 .

In the process of determining and verifying, the smart access control for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (25%), Tier 2 (20%) and Tier 3 (55%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (25%), Directors (25%) and Managers (50%) from various key organizations operating in the global access control market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (10%), Asia-Pacific (20%) and Rest of World (60%).

On a related note, another research on Network Access Control Market Global Forecast to 2020 says secured operations and business automation driving the Network Access Control (NAC) market. The market in Asia-Pacific (APAC) is expected to witness the highest market growth. The NAC market is projected to be USD 2.65 billion by 2020 and grow at a high CAGR of 31.17% during 2015-2020. Companies like Cisco Systems, Fore Scout Technologies, Extreme Networks, HPE, Bradford Networks, and Avaya have been profiled in this 124 pages research report available at http://www.reportsnreports.com/reports/511444-network-access-control-market-by-product-type-software-and-hardware-services-consulting-installation-and-maintenance-and-support-user-type-deployment-type-vertical-and-region-global-forecast-to-2020.html .

Explore more reports on the IT & Telecommunication market at http://www.reportsnreports.com/market-research/information-technology/ .

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