Analysis of Electronic Access Control System market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global electronic access control system market surpassed a valuation of US$ 11 Bn in 2020, with 1.7X growth anticipated over the decade.
|Historical Data Available for||2016-2020|
|Key Companies Profiled||
Major revenue hotspots include the U.S, Israel, and India, as they have high defense spending. Sales of electronic access control systems to the healthcare domain are expected to increase at over 5% CAGR.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Historically from 2016 to 2020, use of electronic access control system increased at around 7.5% CAGR, wherein, developed countries such as the U.S., Canada, Germany, and the U.K. held significant share in the global market.
The market consists of identity verification systems, intruder alerts, and peripheral security systems. Demand for these systems shrunk to an all-time low in Q2 and Q3 of FY2020, but has recovered after the recession and is anticipated to show promising growth over the medium-run. Growth recuperation is anticipated to be observed due to the restoration of commercial projects and technological advancements in the field.
Access control systems are widely utilized in various fields, ranging from commercial sector to defense. Compared with the market for intruder alerts and peripheral security systems, the market for identity verification systems is expected to surge at 9% CAGR due to increasing global focus on security and expansion of security budgets.
An emerging trend relate to electronic access control systems is the need for integrated solutions that integrate instant on-site response with electronic security and alarm systems
Globally, governments and private sector organizations are investing large sums of money to provide better infrastructure. In 2020, the global electronic access control system revenue topped US$ 11 Bn, and it is expected to increase to US$ 21.2 Bn by the end of 2031. During the 2021-2031 forecast period, the global market for electronic access control systems will grow at a healthy CAGR of 8.3%.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Electronic security systems helps people to protect themselves by preventing unauthorized access to property. Key countries integrated these systems into their defense budgets are Iran, US, Israel, UAE, Saudi Arabia and others. Therefore, producers of electronic access control systems are focusing on entering the defense budget procurement model via tenders.
Data centers and service providers are always at risk of data theft and security of illicit data transmission to unknown destinations. This threat is being utilized by manufacturers as an opportunity to channel advanced access control systems with multiple layers of security, protecting data-based companies from oncoming threats.
With increase in crime rates, demand for electronic access control security systems, both, from the residential and commercial sectors, is rapidly increasing. Growing awareness among people for high security has increased demand for electronic access control systems.
However, high installation costs are hindering adoption. Several developing economics have an emerging market, but due the high cost incurred for installation, the market is limited to certain sectors. Moreover, these electronic systems are not completely foolproof. Residential and commercial systems can be hacked remotely, which creates a challenge for manufacturers to develop system that are safer from infiltration.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
More than 45% of the population across the globe is living in urban areas. Rising awareness of comfortable and smart living leads to increase the construction of residential and commercial buildings.
Globally, several governments are focusing on urbanization by starting projects on smart city and infrastructure development. Developing countries such as China and India are witnessing rapid growth in the construction of residential buildings, owing to high population volume and increasing migrating to cities.
Considering all these factors, requirement for electronic access control systems is growing with rapid urbanization across the globe. By 2031, sales of electronic access control systems are expected to top US$ 8.9 Bn just in the residential sector.
The Asia Pacific region is one of the fastest-growing markets for access control systems across the globe, China and India are key regions contributing high percentage of share in the region. Cumulatively, both countries accounted for more than 55% share in Asia. With and absolute dollar opportunity around US$ 6.5 Bn, Asia Pacific has become the most prominent region for electronic access control system sales.
Today, access system control technology has become one of the most useful diagnostic tools in industrial applications. With fast-paced growth of the economy and changes in lifestyle, these is high growth potential in the region.
Besides, it is projected that by 2050, around 48% of the region’s industrial, residential and defence sectors are going to adopt the electronic access control system. China and India, being the most prominent countries in Asia Pacific, are each expected to progress at a high CAGRs of around 10%.
Being one of the most developed country, the U.S. is a key player in electronic access control systems, globally. The market in the U.S. grew 4.3% from 2016-2020.
Rapid product developments in the country along with several government policies is anticipated to bolster demand for electronic access control systems, at a CAGR of 6% over the long-run forecast period.
Besides, busy lifestyle of people in the country looking for high security requirement in the workplace as well as personal places has provided lucrative growth for electronic access control system manufacturers.
In 2020, China accounted for over 35% share of the Asian market for electronic access control systems. China, being the world largest producer of consumer electronics, is also witnessing high manufacturing of spare parts used in electronic access control systems.
Chinese products are chosen at a high volume because of their durability and cost effectiveness. The country exports products throughout the globe. Though, for a certain period, due to the trade war between the U.S. and China, exports were disrupted, but with time, China was able to recover its position and captured around 23.4% of global share in electronic access control spare parts.
Growing demand for security in the healthcare industry is expected to drive sales of electronic access control systems at more than 5% CAGR over the forecast period of 2021-2031. Requirement for electronic access control systems is increasing in healthcare with rising need for secure boundaries in hospitals and healthcare centres.
Owing to rapid modernization of the healthcare industry and requirement of healthcare facilities across the globe, sales of electronic access systems shall observe an upsurge by 2031, and are expected to generate an absolute $ opportunity close to US$ 600 Mn over 2021-2031.
The COVID-19 pandemic hampered market growth of electronic access control systems due to shut down of construction activities and decrease in disposable income. In the pre COVID-era, sales of electronic access control systems mounted to over US$ 1.4 Bn every year till 2019. But the scenario changed due to the pandemic, and sales reduced to US$ 850 Mn in 2020.
With sudden hike in demand from the last quarter of 2020, sales of electronic access control systems stared increasing at a high pace. Although, frequency of distribution faces challenges due to supply chain disruptions across the globe.
Reopening of the markets has provided prosperous growth to electronic access system manufacturers. Post recovery, the market is anticipated to reach a valuation of US$ 12.1 Bn by 2021-end.
Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks. Some of the key developments are:
Similarly, recent developments related to companies manufacturing electronic access control system have been tracked by the team at Fact.MR, which are available in the full report.
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunitiesBuy Now
Get A Special pricing for start-ups and universitiesEnquiry Before Buying
- Humble, Yet Honored -
- Related Reports -
The global electronic access control system market is set surpass US$ 11 Bn in 2021, exhibiting high growth over the next ten years.
Fact.MR has projected over 8% CAGR for electronic access control system sales during 2021-2031.
The electronic access control system market expanded at 7.5% CAGR from 2016 to 2020.
In 2020, China accounted for over 35% share of the Asian market for electronic access control systems, as it is the world’s largest consumer electronics manufacturer.
Japan, China, Germany, the U.S., and Russia are markets driving most of the demand for electronic access control systems.
Residential grade electronic access control systems are in high demand and are expected to be valued at US$ 8.9 Bn by the end of 2031.
The U.S., China, and Japan are key exporters of electronic control access systems.
Rising episodes of security breaches, especially of data-driven firms, and heightening defense budgets are spurring demand for electronic access control systems.
Top suppliers of electronic access control systems include Siemens AG, Cisco Systems, Inc, Robert Bosch GmbH, Honeywell International Inc, Schneider Electric SE, Panasonic Corporation, Johnson Controls International plc, Fujitsu Limited, ASSA ABLOY AB,
North America is anticipated to capture more than 1/3 global market share by FY2031 for electronic control access systems.
The South Korea and Japan’s markets for electronic control access systems market are estimated to progress at 6.3% and 7.1% CAGRs, respectively.
Need An Exclusive Report For Your Unique Requirement?