PUNE, India, July 21, 2016 /PRNewswire/ --
According to the new market research report on the "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", published by MarketsandMarkets, the market is expected to be worth USD 9.80 Billion by 2022, at a CAGR of 7.49% between 2016 and 2022.
Browse 67 market data Tables and 72 Figures spread through 177 Pages and in-depth TOC on "Access Control Market"
Early buyers will receive 10% customization on this report.
The most significant factors driving the market are the increasing urbanization and technological developments. The growth in commercial & services and residential applications of this market is driven by rising adoption of electronic locks.
Electronic locks are the fastest-growing readers for the access control market
The electronic locks are expected to grow at a faster rate over other readers in the market. This 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 electronic locks for the access control market.
The residential application expected to be the fastest-growing application for the access control market during the forecast period
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.
North America is the major consumer of the access control market
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 consumers are shifting toward digital, interconnected environment which also drives the North American access control market.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=164562182
The report also profiles the most promising players operating in this market. The competitive landscape of the market presents a very interesting picture where a large number of big and small players have become a force to reckon with. The key players in this market are Assa Abloy AB (Sweden), Tyco International Plc (Ireland), Dorma + Kaba International Holding AG (Switzerland), Allegion, Plc (Ireland), and Honeywell security Group (U.S.) among others.
Browse Related Reports
Border Security System Market by Environment (Ground, Aerial, Naval), System (Laser, Radar, Camera, Wide Band Wireless Communication, Perimeter Intrusion, Unmanned Vehicles, C2C, Biometric Systems), and Geography - Global Forecast to 2022
Video Surveillance Market by System (Analog, IP), Component (Camera, Monitor, Server, Storage Device, Software), Service (VSaaS, Maintenance), Application (Infrastructure, Commercial, Institutional, Defense, residential), and Geography - Global Forecast to 2022
Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Connect with us:
Visit MarketsandMarkets [email protected] http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441
Email: [email protected]