Electronics Access Control System Market Growth Size [2031]

Report Description

The global electronics access control system market size was USD 39.2 Bn in 2022 and is likely to reach USD 114.4 Bn by 2031, expanding at a CAGR of 10.2% during 2023–2031. The market growth is attributed to the increasing awareness regarding safety.

The electronic access control system is a type of technology that allows or denies virtual or physical access to a virtual or physical space. This space can be a virtual portal, an office, an executive suite, or the entire building itself. Access to physical locations is often granted using a magnetic stripe card or biometrics. The electronic access control system helps to regulate things like controlling access who goes when and where, regulating the flow of traffic through a place, access to vehicles, and even maintaining attendance records.

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The benefits of an electronic access control system include increased security measures in the virtual and physical domains, maintenance of detailed records of all events and transactions, and instant alarm response to discrepancies. There are four different types of electronic access control systems; role-based access, rule-based access, mandatory access, and discretionary access.

The role-based access is the most common system used for physical access. This access is decided by the user’s role within the organization. For example, someone from the upper management will have access to all the floors in the office or organization, but an employee of lower or middle management will have access to a limited number of floors. Rule-based access is an IP-based system that monitors and controls who can go where and when.

Mandatory access permits the user to create new information but does not allow administrative privileges to that information. They can create but cannot decide who will access and modify the information. Mandatory access is widely used in financial institutions and the military. On the other hand, discretionary access is for the upper management, which decides who can go through or make changes to the selected files and services.

One of the widely used examples of the electronic access control system is the magnetic stripe card, which is used in a wide range of applications, from reducing the risk of data loss and theft to protecting intellectual property. These cards have numerical codes embedded in them that allow access to an individual. The access is controlled via a swipe reader that decides whether an individual is allowed access.

The COVID-19 pandemic offered several potential opportunities in the market. The pandemic has led to major changes in office policies. Since workplaces were the prime locations for the spread of the virus, several businesses opted for remote working or operating with minimal staff presence. This increased the demand for the electronic access control system, as it helped businesses and employees to operate remotely while simultaneously maintaining trouble-free data.

Electronic Access Control System Market Dynamics

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Key Trends

The rising implementation of multi-factor authentication systems and setting up high-security standards is a major market trend. Employees at several business establishments have to use a passcode or face ID along with the biometric system to get access, which provides a better security system.

Major Drivers

Increasing usage of the Internet of Things (IoT) and cloud-based database security are major factors driving the market. Security and privacy concerns have increased with the surge in the use of electronic access control systems. Cloud computing technology has created new standards of efficiency and quality in automation systems. This provides data security as well as freedom to operate remotely. IoT-based systems are secured from malicious hacking by using password authentication and provide a secure exchange of data and stable links between the internet and smart objects.

Growing requirement for better security systems due to the rising illegal immigration and criminal activities is expected to boost the market. Multi-factor authentication has heightened the requirements for basic security and prevention. Numerous businesses and customers are now opting for this technology for providing security to doors and appliances.

Existing Restraints

High cost of electronic access control devices is projected to hamper the market. Moreover, a multi-factor authentication system requires the user to verify identity twice rather than once in any other system. Thus, the lack of proper standards acts as a restraining factor.

Emerging Opportunities

The implementation of mobile-based access control systems and biometrics in mobile devices creates lucrative opportunities in the market. Numerous benefits of mobile-based access control systems have led to their use in commercial as well as residential spaces. The most prominent examples of this would be places such as gated communities, multifamily apartments, and commercial & mixed-use properties.

The implementation of biometrics in mobile devices enhanced device security along with its use in several applications. This increases the security standards of authentication systems and enhances user experience.

Scope of the Electronic Access Control System Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Based on authentication, the electronic access control system market is divided into touch screen & keypads, biometrics, card-based, and door contacts. The biometrics segment is expected to expand at a significant growth rate during the projection period due to its extensive use as a prominent and reliable security measure in commercial and residential space. Biometrics uses the physical properties of humans to identify individuals and grant access. It includes facial recognition, fingerprint identification, hand scan, and iris recognition, which prevents unauthorized access to data or systems.

The card-based segment is anticipated to grow at a rapid pace in the coming years owing to the rapid commercialization and rising standards of basic security awareness. Its use in offices, hotels, and other commercial spaces has become increasingly prevalent, as it provides a high level of security. The card contains a microprocessor that functions as an active computing device and is used to determine whether it is authorized in the system.

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On the basis of intruder alarm system, the market is segmented into communication devices, detection systems, and alarm panels. The alarm panels segment is projected to register a considerable CAGR during the forecast period due to its wide range of applications including security alert systems and fire alarms. The alarm control panel is the central hub of a security setup and gives the controller complete access to the alarm system.

The detection systems segment is expected to grow at a high CAGR during the projection period, as it is a prominently used security measure everywhere from airport security to the theft detection system at shopping complexes. It detects abnormalities or suspicious activities so that they can be analyzed and appropriate actions can be taken to remediate the problem.

Based on perimeter security system, the electronic access control system market is segregated into buried perimeter security, free standing perimeter security, and fence mounted perimeter security. The free standing perimeter security segment is expected to register a robust growth rate during the forecast period owing to the increasing awareness of safety measures in commercial and residential spaces. It uses software and physical technology systems to detect unauthorized access within a space.

In terms of application, the market is fragmented into commercial, industrial, and residential. The industrial segment is expected to expand at a considerable CAGR in the coming years owing to rapid urbanization. Growing requirement to enhance safety and security among medium and large-scale industries is likely to boost the segment. On the other hand, the commercial segment is estimated to grow at a significant pace due to the rising businesses along with implementing electronic access control systems to upgrade their security measures and safeguard their data from intrusion and theft.

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Based on region, the global electronic access control system market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the projection period due to the rising focus on security and surveillance, especially in commercial spaces. Moreover, North America is highly advanced when it comes to the implementation of access control systems. It has been making constant efforts to enhance its electronic infrastructure and making great strides in the area.

The market in Asia Pacific is projected to grow quickly during the projected period owing to the increasing number of commercial buildings in developing countries such as India and China. Growing data breach activities and the growing awareness regarding organizations’ safety are likely to fuel the market in the region.

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