The access control market is set for significant growth, with projections indicating a value of £12.1 billion by 2029. This represents a compound annual growth rate (CAGR) of 7.8% from 2024, driven by the increasing demand for improved security and operational efficiency.
Access control systems streamline access management processes, reducing administrative burdens and manual tasks, ultimately leading to cost savings. They also bolster security, minimising the risk of theft or data breaches, offering long-term financial benefits.
Key Trends Shaping the Market
Several key trends are propelling the growth of the access control market:
Biometric Authentication: Biometric systems, such as fingerprint, facial recognition, and iris scanning, are gaining popularity due to their high accuracy and security. Leading players like BIO-key International Inc., BioRugged (Pty) Ltd, and Suprema Inc. are at the forefront of developing innovative biometric solutions that are difficult to replicate or circumvent.
AI and Machine Learning: AI-powered access control systems are enhancing security by learning and adapting to user behaviour. These systems can identify anomalies and potential security breaches in real-time. Companies like Hikvision and Cognitec System GMBH are leveraging AI to improve their access control offerings.
Cloud-Based Solutions: Cloud technology is enabling more flexible and scalable access control systems. With cloud-based platforms, businesses can manage and monitor access remotely, providing real-time updates and analytics. Companies like Brivo, Inc., Cloudastructure Inc., and Openpath are leading this transition.
Integration with the Internet of Things (IoT): The IoT is facilitating the integration of access control systems with other security and building management systems. This interconnected approach allows for more comprehensive security strategies. Honeywell International, Johnson Controls, and Siemens Building Technologies are integrating IoT to enhance their access control solutions.
Mobile Access and Remote Management: The use of mobile devices for access control is growing, offering convenience and enhanced security. Mobile credentials can replace traditional keycards, reducing the risk of loss or theft. Companies like Kisi Inc. and ButterflyMX are pioneering mobile access solutions.
Market Segment Dynamics
Hardware: Card-based readers are expected to hold the largest market share in the hardware segment. Their compatibility with various door control systems and credentials makes them easily integrated with existing infrastructure and scalable to meet growing needs. Additionally, their cost-effectiveness compared to biometric readers or facial recognition systems makes them attractive for businesses.
Access Control as a Service (ACaaS): Hosted access control services are projected to dominate the ACaaS market. These services provide centralised security and management across multiple locations, streamlining operations and enhancing visibility. Providers also ensure systems are kept up-to-date with the latest security patches and firmware updates, improving overall security posture.
Commercial Sector: The commercial sector is expected to experience the second highest CAGR within the access control market. This is driven by the need for enhanced visitor management and experience, streamlining the check-in process and improving security. Access control systems can manage employee and visitor access to different departments, secure confidential information, and comply with industry regulations.
Regional Growth
North America is anticipated to hold the largest share of the access control market during the forecast period. The region is at the forefront of implementing access control to enhance safety measures and security, driven by concerns regarding data security and rising threats like cyberattacks, data breaches, and physical thefts.
Key Players
Leading players in the access control market include ASSA ABLOY, dormakaba Group, Johnson Controls, Allegion Plc, Honeywell International, Inc., Identiv, Inc., Nedap N.V., Bosch Security Systems GmbH, Thales, AMAG Technology, Axis Communications AB, Gunnebo Safe Storage AB, NEC Corporation, GALLAGHER GROUP LIMITED, Brivo Systems, LLC, SALTO Systems, S.L., IDEMIA, Vanderbilt industries, Cansec Systems Ltd., Securitas Technology, Datawatch Systems, Telcred, Forcefield Security, and Kisi Inc.
The access control market is poised for continued growth, driven by the need for robust security, operational efficiency, and technological advancements. The integration of emerging technologies like AI, IoT, and mobile access will continue to shape the industry, offering innovative solutions to meet the evolving security needs of businesses across various sectors.