The overall access control market is expected to grow from USD 7.5 billion in 2018 to USD 12.1 billion by 2024, at a CAGR of 8.24% from 2018 to 2024. Adoption of access control as a service (ACaaS); implementation of mobile-based access control; and increasing urbanization in emerging countries are expected to provide huge growth opportunities to the access control market players. The growth of the access control market is driven by high adoption of access control solutions owing to increasing crime rates globally; technological advancements and deployment of wireless technology in security systems; and adoption of IoT-based security systems with cloud computing platforms.
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Key players operating in the access control market include ASSA ABLOY AB (Sweden), Johnson Controls International plc (Ireland), dormakaba Holding AG (Switzerland), Allegion plc (Ireland), Honeywell Security Group (US), Identiv, Inc. (US), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Bosch Security Systems Inc. (US), and Gemalto N.V. (Netherlands). Many major companies focus on organic growth, such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to boost revenues.
Top 2 players in access control market:
ASSA ABLOY AB (Sweden) is a leading provider of door opening solutions, such as access control, mechanical and electromechanical locking, identification technology, entrance automation, security doors, hotel security, and mobile access systems. The company also offers identity and access management tools, biometrics, and government IDs for authenticity and protection. The company developed the Aperio technology to complement its electronic access control systems by providing access to an unlimited number of existing or new doors. The company has sales offices with additional representation by a network of distributors across the globe. In September 2018, the company acquired Crossmatch (US), one of the leading providers of biometric identity management and secure authentication solutions. This acquisition will enhance ASSA´s position as the world’s one of the leading biometric companies, and provide complementary growth opportunities.
Johnson Controls International plc (Ireland) is a leading provider of access control readers and cards, hosted access control, enterprise access control, visitor management systems, identity management systems, door entry systems, smart cards and biometrics, and integrated access control systems. The combination of Tyco’s and Johnson Controls’ security platforms creates significant opportunities for near-term growth through cross-selling, complementary branch and channel networks, and expanded global reach for the established businesses. In September 2018, Johnson Controls launched the CEM Systems AC2000 v10.0, which offers users a modernized look and feel along with new features such as enhanced enterprise capabilities that increase the performance and scope of the AC2000 access control system suite.