Access Control Market Will Be Worth US$9.194 Billion In 2024

Knowledge Sourcing Intelligence announces the publication of a new report “Access Control Market - Forecasts From 2019 To 2024" to their offering. The report has segmented the access control market by product (hardware and software), by service (installation and integration, support and maintenance, and professional services), by deployment (cloud and on-premise) and by geography. The global access control market is estimated to grow at a CAGR of 6.20% to reach a total value of US$9.194 billion by 2024, from US$6.410 billion in 2018.

Access control is a way of limiting access to a system or to physical or virtual resources. In computing, access control is a process by which users are granted access and certain privileges to systems, resources or information. The rising number of cyber and data attacks on the computing system across the globe is one of the leading factors that is resulting in the burgeoning demand for advanced and sophisticated access control solutions and systems.

By product, the access control market is segmented into hardware and software. The hardware segment is further divided into biometrics, cards and readers, mobile phones and others. The hardware segment held a considerable share in the market due to the widespread deployment of biometrics and card and reader in industries like telecommunication, BFSI, government, and others.

By deployment, the access control market is segmented into cloud and on-premise solutions. The on-premise solution holds a majority of the access control market since industries that are more vulnerable to cyber-attacks rely on on-premise access control systems to get a better hold on their data. However, cloud-based access control is estimated to witness good growth in the upcoming years on account of the burgeoning adoption of cloud solutions by SME’s.

By the end-user industry, telecommunication and government held a notable share in the access control market in 2018 and is anticipated to grow at a good rate during the forecast period on account of the burgeoning concern regarding the safety of the digital assets. Other industries like utility are set to unlock growth potential for access control systems as the industry is increasingly investing in automating their processing that requires access control at both physical and logical levels to ensure the safety of the data.

Geographically, the Asia Pacific holds a substantial share in the access control market on account of the growing investment done in countries like India, to enhance security in various sectors, especially the government. This coupled with the growing Information and Technology business in the Asia Pacific countries is anticipated to further boost the access control market growth during the forecast period.

The key players of the access control market covered in this report include Vanderbilt Industries, Gemalto NV, Honeywell International Inc., IDEMIA, Matrix Comsec Pvt. Ltd., IDenticard Systems, Tyco International, Protection One, NEC Corporation, and Crossmatch among others.

This report contains the Access Control market analysis on the current trends and the opportunities for the vendors over the next six years. It provides deep insights into the drivers and restraints of the industry. Access Control Market report also consists of an in-depth regional analysis. A lot of statistically relevant tools and detailed industry analysis models such as scenario analysis have been used to forecast the market trends and forecasts up to the year 2024.
The report also talks about the strategies adopted by the industry leaders to gain an advantage over competitors and the recent deals that they have gone into to position themselves better in this market.

Purchase the complete report or request for a sample: www.knowledge-sourcing.com/report/access-control-market

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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centring on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.

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