WILMINGTON, DE / ACCESSWIRE / November 23, 2022 / Cloud-based electronic access control systems are rapidly gaining popularity worldwide, owing to their ability of managing multiple sites from a single system. These solutions offer enhanced convenience, and are increasingly being adopted by various mid-sized companies and enterprises across the world. Rapid adoption of such modern solutions is estimated to favor market growth. According to a recent research report, the global electronic access control systems market is estimated to expand at a CAGR of 5.2% during the forecast period of 2021 to 2031.
Rising awareness and increasing popularity of these high-tech and next-gen systems is fueling the expansion of global electronic access control systems market. Some other significant drivers for the market include expansion of the defense industry around the world, increasing usage of mobile-based credentials, and rising number of research and development projects undertaken by market players.
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Electronic Access Control Systems Market – Key Findings of the Report
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Increasing Applications in Several End-use Industries: Rising demand for enhanced security solutions from various end-use industries, including building and construction, healthcare, and education, is positively affecting the growth of global electronic access control systems market. The growth of this market is particularly driven by the rising demand for enhanced and technology-enabled security systems in commercial buildings.
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Rising Demand for Visitor Management: Increasing need for facilitating smooth and efficient visitor experience for enjoyable visits in hospitality industry is driving the demand for next-gen visitor management systems. These solutions offer a faster and more streamlined check-in process, and aid in reducing wait times and contact at the front desk. Market players are engaged in research and development activities to design and develop new and advanced visitor management systems to capture shares in the industry.
Electronic Access Control Systems Market – Growth Drivers
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Rising consumer demand in the global electronic access control systems market can be attributed to increasing popularity and installations of cloud-hosted ID and access systems in commercial as well as government sites
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Increasing security concerns in various institutions, such as financial institutes, educational and academic institutes, and healthcare institutes, is also propelling the demand within the market
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Growth of the global electronic access control systems market is further supported by the rising efforts taken by governments in some countries across the world to overcome various serious security challenges
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Electronic Access Control Systems Market – Key Players
Key manufacturers and players are engaged in growing their market share by participating in various expansion activities, such as partnerships and collaborations, as well as mergers and acquisitions. Leading players in the global electronic access control systems market are Bosch Sicherheitssysteme GmbH, Godrej Consumer Product Limited, Johnson Controls International PLC, Panasonic Corporation, Siemens AG, ASSA ABLOY AB, Fujitsu Limited, Honeywell International Inc., NEC Corporation, and Schneider Electric SE. Several players in the market are also focusing on designing and developing new types of low cost, yet efficient products and systems to attract more consumers.
Electronic Access Control Systems Market – Regional Growth Dynamics
Asia Pacific electronic access control systems market is estimated to record significant growth over the forecast period. Growth within this regional market can be attributed to the strong presence of leading players in economies such as Japan, India, and China. Furthermore, increasing adoption of new age touchless access control systems, such as cloud-based security, biometric technologies, mobile access control, and multi-factor authentication in India and China, is also expected to favor the expansion of Asia Pacific electronic access control systems market. Some other key drivers for the growth of this regional market include shifting consumer lifestyles, rising instances of new product development by regional players, and fast paced economic growth.
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Electronic Access Control Systems Market: Segmentation
Electronic Access Control Systems Market, by Component
Electronic Access Control Systems Market, by Product Type
Electronic Access Control Systems Market, by Application
Electronic Access Control Systems Market, by End-user
Electronic Access Control Systems Market, by Region
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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South America
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