Market Research Of Global Access Control Market By Knowledge Sourcing Intelligence
INTRODUCTION
The global access controlled market is projected to witness the growth at a CAGR of 6.67% during the
forecast period to reach the total market size of US$ 8.361 billion by 2022,
increasing from US$6.053 billion in 2017. Access control is a way of limiting
access to a system or to physical or virtual resources. In computing, access
control is a process by which users are granted access and certain privileges
to systems, resources or information. In access control systems, users must
present credentials before they can be granted access.
The access control system
enables security systems to be centrally controlled. It offers customizable
systems, allowing access to the restricted area to particular individuals at a
certain time. The system also provides the advantage of keeping a track of
logging activity along with the benefits of remote access as well. Market Research is done by
the knowledge sourcing industry due to the huge scope with the respective
industry.
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Sample view of global access controlled market share
The government the sector accounted for the major share in 2016 in order to eliminate unauthorized
access to the premise and confidential data. Geographically, Asia Pacific is a dominating region on account of the development of infrastructure and government
initiatives promoting the measure of access control systems.
ACCESS CONTROL MARKET FORECAST BY PRODUCT
By product, The access control market has been segmented as hardware and software. The hardware segment holds a larger market share and is expected to grow further in the
upcoming years. The hardware segment is further divided into sub-segments as
biometrics, cards and readers, mobile phones, and others.
The hardware segment
of the global access control market accounted for XX% share in 2016 and is
expected to dominate the market in the next five years to witness a slight
change in its market share by 2022. The software segment is expected to grow at
a higher CAGR of X.XX% during the forecast period and is expected to reach a market size of US$X.XX billion by 2022.
The growing need for better security and
access control management in various industrial sectors, government
institutions, and others, to control, allow, and restrict access to different
entities is a major driving force behind the rising adoption of access control
systems. Safeguarding employee and organizational data and assets is another major factor leading to the continuous growth of the access control market.
Sample view of global access controlled market share
ACCESS CONTROL MARKET FORECAST BY GEOGRAPHY
Geographically,
global access control market is segmented as Americas, Europe Middle East and
Africa, and Asia-Pacific. APAC region dominates the global access control
market till the end of 2022 and is projected to grow at the highest CAGR
between 2016 and 2022. This growth is attributed to the increasing application of
physical access control solutions for high-security purposes, across different
end-use sectors in emerging economies such as China and India. Rising
investments, both public and private, in advanced access control solutions in
the APAC countries further contributes to the regional market growth. Growing
demand for building access control solutions owing to increasing investments in
smart city projects will continue to boost the growth of the access control
market in APAC during the forecast period.
Americas and
EMEA regional markets will witness considerable growth during the projected
number due to growing cases of cyber-attacks in both regions. Rising projects
to develop smart cities such as Horizon 2020 will further spur the demand for
access control solutions in EU member countries during the next five years.
Sample view of global access controlled market share
Americas
Access Control
market is projected to grow at a CAGR of X.XX% during the forecast period,
reaching a total market size of US$2.642 billion by 2022 from US$X.XXX billion
in 2016. The region is further segmented into North America and South America
Access Control markets. North America holds the largest market size in 2016 and
will remain at its position throughout the forecast period owing to early
adoption of the technology across different end-use sectors coupled with the
presence of major players of global access control market in the U.S. High rate
of investment in R&D in the access control industry boosts the growth of
access control market in the region. Recent rise in cyber-attacks across end
use sectors, especially in BFSI and healthcare, is further forcing market
players to come up with advanced and effective access control solutions,
thereby positively impacting the growth of access control market in the North
America region.
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