Global Access Control Market Size, Share & Trends Analysis
Report and Forecast 2022-2028
The global market for access control is estimated to have significant CAGR of around 8.7%
during the forecast period. The market is mainly due to growing adoption of access control
systems in commercial and residential applications coupled with crime rates across the globe.
Burglaries are increasing at an alarming rate supported by the fact that; according to the
National Council for Home Security and Safety, an illegal entry of a building takes place every
eighteen seconds in the US that adds up to about 4,800 burglary every day. Most of the
burglary takes place during day time as residents are usually not at home. About 1,495,790
illegal entries of the buildings are observed in the US during the day time. The intruders are
attracted mostly to the homes that are not equipped with any security systems. The access
control system provides a way to reduce these crimes. The access control such as smart lock
detects and notifies the residents or the home owner about any abnormal behavior or about the
presence of any intruders.
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The global access control market is segmented based on type and application. Based on the
type, the market is further classified into hardware including, smart cards and readers,
biometric, and software and services. The hardware segment is projected to have considerable
share in the market owing to the growing smart card reader, biometric readers controlled access
control coupled with smartphone penetration across the globe. Huge number of access control
companies in the market and the wide range of products offered by them has increased the
adoption of security systems. Based on the application, the global access control market is
further segmented into residential and commercial.