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physical access control systems market

Physical Access Control Systems Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Hardware, Services); By Type (RBAC, MAC, DAC), By Application; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Sep 2022
  • Pages: 112
  • Format: PDF
  • Report ID: PM2569
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global physical access control systems market is valued at USD 6.78 billion in 2021 and is projected to grow at a CAGR of 10.2% during the forecast period. Huge demand from BFSI, services sector, institutions, communication & mass media, and other industry verticals is propelling sales of physical access control systems market across the globe.

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Furthermore, the rising investments in R&D pursuits by key market participants are expected to enhance the market prospect significantly over the subsequent years owing to immense advantages such as employees entry & exit tracking, attendance follow-ups, crew safeguarding from unknown visitants, shielding against data breaches, prevention from theft & provide strong security to properties of office/individual, simplicity of access, one-time setup, negligible maintenance staff, and others are factors boosting the growth of global physical access control systems market during the forecast period.

Fast authentication, safe & secure precise employee vindication, and unidentified visitor notification play crucial roles in physical access control system industry growth. Previously, due to the high cost involved with these products also, these systems were imported from other countries and required an expensive professional to maintain them, but nowadays the emplacement is easy and economical and also available with multiple functions with a one-time investment only.

Because of multiple conveniences, key players are now aiming at the advancements in access control systems, which are likely to accelerate the mass growth of the physical access control market during the forecast period. In case of terrorist attacks, robberies, public religious gatherings, sensitive places like bank & government buildings, and other criminal activities, physical access control system validates the rapid and well-organized real-time response.

Residential, Commercial, industrial, and government verticals received advantages from the deployment of biometric devices, smart cards, thumb scanners, voice recognition, and other IoT and AI-based electronic gadgets for better authentication and shielding to boost the expansion of the market globally.

The COVID-19 pandemic has foisted a precarious move on the industry, affecting every business sector & individual on earth. Over the past years, the market showcased a huge increment in the demand for physical access control services in all major sectors. The global epidemic has lowered market growth due to the closedown of various manufacturing plants, IT company offices, and public gathering premises.

As per government guidelines, many organizations started providing a work-from-home alternative, and due to this, demand for access control systems badly decreased with long-term effects. Although, as the global economic infrastructure is kicking off and employees are presuming back to the offices, which proportionally increases the demand for PACS in the market.

Industry Dynamics

Growth Drivers
Organizations of all amplitude favor cloud-based security systems compared to conventional systems owing to their strength and cost-effectiveness. Nowadays, companies have various office branches in different cities, so to take control of employees, PACS are employed to govern office management practices with ease.

The increasing popularity of physical access control system applications that provides distant security administration using the internet has shot up significant demand for such system in the market in coming years. Prominent attributes, such as precision level security, multiple location management, and hassle-free operation, further upgrade the demand for physical access control systems market during the projection period.

Report Segmentation

The market is primarily segmented based on by component, type, application, and region.

By Component

 By Type

By Application

By Region

  • Software
  • Hardware
  • Services
  • RBAC
  • MAC
  • DAC
  • BFSI
  • Retail
  • Transportation and Utilities
  • Manufacturing
  • Services
  • Institutions
  • Residential
  • Commercial
  • Industrial
  • Homeland Security
  • Healthcare
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Hardware fragment holds the supreme market share in 2021

Technological enhancements, such as Artificial Intelligence, and IoT-enabled equipment associated with reducing the prices of instruments, have marshaled the growing acceptance of the physical access control systems market to improve remote surveillance and staff security. Increasing physical & assets safety agitation and uncompromising regulatory obedience are some of the significant aspects propelling the division's growth. Moreover, the fast pace expansion of industrial and business hub infrastructure in various sectors has driven the demand for PACS, so magnifying the segment growth.

The software category registers significant market share as the application software is a mandatory part of any access control system. The rising vogue of cloud-based technology navigates the demand for advanced software in the market.

This software provides a gateway for updating the identity of users and providing information to administrators using the internet. Major market participants are now developing advanced software to bestow multiple features to the user for high security and ease to use. These are several advanced benefits aspects that are accountable for software segment growth.

DAC segment dominated the market in 2021

The growth of the physical access control system market is majorly directed by the growing acceptance of a discretionary access control (DAC) system. The segment is achieving high acclaim across the market due to its advantages such as rigor security, high efficiency, perfection level authentication, and low cost. The demand for personalized DAC components is likely to propel market growth.

RBAC category represents prominent development during the projection phase. An improved security structure at a less cost is the major attribute to driving the role-based access control (RBAC) system demand. The rising rate of crimes is likely to push the RBAC's notable acceptance owing to its powerful identity governance and access management characteristics. RBAC systems are much admired in the IT sector due to their advanced methodology, efficiency, and robustness.

Asia Pacific region leads the physical access control system market in 2021

Asia Pacific region is considered for a significant market share in 2021 and is evaluated to continue its dominance throughout the anticipation timeframe. APAC holds for the massive acceptance of hi-tech physical security systems. The regional market is governed by aspects such as increasing disposable income, strict government reforms, and expanding funding by key players in physical access control solutions.

Additionally, various citizens' services and local transportation service places, such as public gathering places, railway stations, airports, and bus stations, are aiming to protect their properties through electronic security systems, thus boosting the growth of the PACS market in the region.

North America registered lucrative growth in the market in 2021. This supremacy is ascribed to the prominent disbursement of touchless techniques and efficient security services. The majority U.S populace operates smartphones, and extensive acceptance of Artificial Intelligence and IoT-based technologies is further boosting the market development.

Europe is anticipated to occupy a notable stake in the PACS market owing to considerable demand for the advanced security system. The rising acceptance of smartphone computing devices such as smartwatches, tablets, smartphones, and intelligent biometrics devices is accountable for amplifying the demand for the physical access control systems market in the region. Sectors such as BFSI, healthcare, and tourism exhibit robust demand for PACS which additionally boosts the market during the forecast period in the European region.

Competitive Insight

Some of the key players operating in the global market include Allegion plc., Bosch Security, Safran Security, Paxton, Avigilon, Honeywell Commercial Security, Johnson Controls, Assa Abloy, Ltd., TKH Group NV, Aiphone Co., Tyco, Axis, and Others.

Recent Developments

In July 2021, Altronix and Brivo declare a prudent alliance, which will assist in the market growth of Brivo’s hardware ecosphere and offer customers with much better versatility.

In August 2021, Omni-ID was acquired by Assa Abloy the U.S. based is a dominant processor of RFID tags and commercial IoT-oriented hardware gadgets.

In Feb 2020, Honeywell Security inaugurate its exclusive variety of physical access control systems, such as WIN-PAK PE 4.7 and WIN-PAK CS 4.7 (MACS) managed access control system, MPA1 the smart edge single door controller, and other access control systems.

Physical Access Control Systems Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 6.78 billion

Revenue forecast in 2030

USD 15.98 billion

CAGR

10.2% from 2022 – 2030

Base year

2021

Historical data

2018 – 2020

Forecast period

2022 – 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Component, By Type, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Allegion plc., Bosch Security and Safety Systems, Assa Abloy AB, Safran Security, AssaAbloy, Paxton, Avigilon,   Bosch Security, Honeywell Commercial Security, Johnson Controls, Assa Abloy, Ltd., TKH Group NV, Aiphone Co., Tyco, Axis, and Others.

Key Take-Away
Polaris Market Research
Global Physical Access Control Systems Market Size Report, 2022 - 2030