Global Electronic Access Control Systems Market Poised to Expand at a CAGR of 8.3%

Rising threat of terrorism along with the growing need for more advanced security systems are estimated to boost demand for electronic access control systems in the coming decade. Perimeter security systems, alarm systems, authentication systems, and various other systems are in high demand throughout the globe.

The global electronic access control systems market stands at a value of US$ 14.64 billion in 2023 and is predicted to expand at a CAGR of 8.3% to reach US$ 32.5 billion by the end of 2033.

• Demand for electronic access control systems in the commercial & institutional sector is projected to surge at a CAGR of 9.3% and reach US$ 10.59 billion by 2033-end.
• Sales of electronic access control systems in Germany are forecasted to rise at a CAGR of 9% and reach a market valuation of US$ 2.57 billion by the end of 2033.

Lack of awareness among consumers about the benefits of electronic access systems is expected to impede market growth. Electronic access control systems are expensive, which is also restraining their adoption to some extent. Owing to technological advancements, the prices of electronic access control systems are estimated to decrease, which is projected to have a positive impact on the market.

What are the Factors Influencing the Demand for Electronic Access Control Systems?

“Increasing Cases of Break-ins in Residential Buildings and Illicit Data Transmission in Organizations”

Data centers are at high risk of the transmission of illicit data to unknown destinations, which leads to increased demand for intrusion detection and protection system.

Break-ins and theft breaches are some crimes that are prevailing in residential and commercial areas that further lead to increased demand for more advanced security systems. Electronic access control systems ensure convenience to end users that are predicted to contribute to their rising deployment. These systems ensure a safe environment for individuals. Modern access control systems ensure only private and authorized access inside a premise.

“Rising Terror Attacks, Vandalism, and Public Violence”

In the past few years, there is a noteworthy increase in the incidences of vandalism, terror attacks, and public violence, and the demand for physical access control systems is thus increasing. At present, terror threats in educational institutions and public areas are comparatively high. To prevent these crimes, electronic access control systems are being deployed extensively across the world.

Electronic access control systems are widely deployed in public buildings, including residences, hospitals, and offices to improve security levels.

“Market Benefitting from Rapid Urbanization and Consequent Residential & Commercial Construction Activities”

Growing awareness among people about smart and comfortable living is estimated to lead to increased construction of residential buildings. Many governments around the world are investing in increasing the number of infrastructure development and smart city projects. This necessitates the utilization of digital door lock systems.

Developing countries, including India, and others are experiencing a rapid increase in residential construction activities due to rising urban migration. This leads to the increasing adoption of electronic access control systems.

What are the Hindrances to the Adoption of Electronic Access Control Systems?

“High Installation Cost and Security Glitches Associated with Electronic Access Control Systems”

Owing to security concerns, many residential and commercial organizations are deploying electronic access control systems. The high installation costs of these systems are restraining their adoption in some developing economies.

Electronic access control systems are not foolproof. Hackers can take control of commercial and residential systems with remote operation. This creates a challenge for industry players to develop more secure systems.

What are the Opportunities for Start-ups in the Market?

“Emphasis of New Companies on Development of Technologically Advanced and Low-cost Electronic Access Control Systems”

Several organizations are adopting electronic access control systems. Electronic access control systems have been known to experience security glitches. It is important to design and produce more technologically advanced and safe systems.

Country-wise Insights:

How is Demand for Electronic Access Control Systems Shaping Up in the United States?

“Government Regulations Mandating Deployment of Advanced Security Systems”

Demand for electronic access control systems in the United States is projected to increase at a CAGR of 8.1% and reach a valuation of US$ 11.15 billion by 2033-end. Supportive government regulations mandating advanced security levels are projected to boost demand for electronic access control systems.

What Makes the United Kingdom and Germany Lucrative Markets for Electronic Access Control System Providers?

“Rising Investments by End Users in Deployment of Technologically Advanced Access Control Systems”

Demand for electronic access control systems in the United Kingdom is anticipated to expand at a 7% CAGR and reach a value of US$ 1.98 billion by 2033-end. The German market is estimated to register a CAGR of 9% and reach US$ 2.57 billion by the end of 2033.

What is the Demand Outlook for Electronic Access Control Systems in India?

“Rapidly Growing Adoption of Electronic Access Control Systems in Industrial Sector”

Demand for electronic access control systems in India is forecasted to advance at a CAGR of 8.7% and reach a valuation of US$ 2.66 billion by the end of 2033. At present, electronic access control systems are used as noteworthy diagnostic tools in the industrial sector.

Category-wise Insights:

Why are Biometric Systems Extensively Used across the World?

“Increased Demand for Biometric Systems Due to Their Cost-effectiveness Compared to Other Technologies”

Based on technology, the global market is segmented into biometrics, card-based, keypad, intruder alarm, and perimeter security. Demand for biometric technology is estimated to advance at a CAGR of 8.8% and reach US$ 13.29 billion by the end of 2033. Biometric readers use personal characteristics, including facial recognition, fingerprints, and others for personal identification and then grant access.

Which Application of Electronic Access Control Systems is Forecasted to Hold a Noteworthy Market Share?

“Widespread Deployment of Electronic Access Control Systems in Commercial & Institutional Sector Due to Rising Need for Reducing Manual Security Checks”

Government & defense, commercial & institutional, industrial, and residential sectors are contributing to increased sales of electronic access control systems. Among these, the commercial & institutional sector is predicted to hold a 32% share of the global market revenue by the end of 2033. Demand for electronic access control systems in the commercial & institutional sector is projected to rise at a CAGR of 9.3% and reach US$ 10.59 billion by 2033-end.

Key Market Players:

• Panasonic, in January 2020, developed a multifunctional secure IC. It protects critical data on IoT (Internet of Things) devices in industrial areas. The company also disclosed its plan to offer wireless interface functions that are equipped with NFC (near-field communication).
• Honeywell, in 2020, launched an application named WIN-PAK 4.8. It provides an economical solution for the management and integration of access control, video surveillance, and intrusion detection through a single interface. This newly developed software can be scaled from single to multiple sites without any restrictions on users.Global Electronic Access Control Systems market.