Home > > IT And Telecommunications > > Electronic Access Control System Market Size, Share | Industry Analysis 2031
Id: CBI_ 1495 | Pages: 364 | Format : PDF | Published : | Author : Pawan Chasta
Electronic Access Control System Market size is estimated to reach over USD 28,940.45 Million by 2031 from a value of USD 14,785.44 Million in 2023 and is projected to grow by USD 15,816.87 Million in 2024, growing at a CAGR of 8.8% from 2024 to 2031.
An electronic access control system refers to a system that is mainly designed to provide or deny access to a particular space. These systems ensure the entry of only authenticated and authorized personnel into a specific space or to acquire a specific resource. They work by utilizing a combination of credentials, credential readers, and computer systems to deliver a higher and more reliable level of safety and security. They also provide a high degree of accountability to their users and administrators. The aforementioned characteristics of these systems are key determinants for increasing their adoption in residential, commercial, and industrial sectors.
Electronic access control systems such as biometric systems, card-based access control systems, and others are deployed in the commercial sector including offices, hotels, resorts, hospitals, and educational institutes among others for enhanced security. The deployment of these systems in commercial buildings enables the property staff to manage individuals' access to a building or certain areas of a property. Moreover, these systems aid in improving property security and convenience across offices, businesses, and other commercial properties while providing entry to only authorized users within the commercial property.
Hence, the rising development of commercial spaces is increasing the utilization of these systems in commercial buildings to offer improved security, in turn driving the electronic access control system market trends.
Electronic access control systems are often installed in residential buildings to authenticate individuals and give access to entry to the building only to authorized individuals. Moreover, the installation of these systems in residential buildings provides several benefits such as enhanced security, ease of customization, reduced risk of theft and robbery, and the ability to control multiple doors remotely, which are primary aspects for driving its application in residential buildings. Additionally, the increasing incidence of theft and robbery along with the rising need for enhanced security in residential buildings are among the key factors driving the application of these control systems in residential buildings.
Thus, the growing residential construction is driving the adoption of these systems in residential spaces for providing enhanced occupant security, thereby, proliferating the electronic access control system market growth.
The implementation of these systems is usually associated with high costs. The high costs are due to the need for multiple components for its installation such as biometric scanners, electronic locking hardware, a network connection, and computer hardware and software, which is relatively very high in comparison to the cost of conventional mechanical locks for access control.
Therefore, the analysis of market trends depicts that the high cost associated with the implementation of these systems is restraining the electronic access control system market demand.
Industrial buildings such as warehouses, logistics centers, distribution facilities, and others store large quantities of expensive goods that are often targeted by intruders and robbers. Hence, electronic access control systems such as intruder detection systems, perimeter security systems, and biometric systems among others are often installed in industrial buildings to offer advanced security of high-value products and prevent access of intruders within the premises.
Consequently, the rising development of industrial buildings will increase the adoption of these systems such as intruder detection systems, perimeter security systems, and others to control the access of unauthorized intruders within industrial premises. Thus, the analysis of market trends shows that the aforementioned reasons are boosting the electronic access control system market opportunities.
Based on the system type, the market is trifurcated into authentication systems, intruder alarm systems, and perimeter security systems.
Trends in the System Type:
The authentication system segment accounted for the largest revenue share in 2023 of the overall electronic access control system market share.
The intruder alarm system segment is anticipated to register a significant CAGR during the forecast period.
Based on the end user, the market is trifurcated into residential, commercial, and industrial.
Trends in the End-User:
The commercial sector accounted for the largest revenue share of 45.29% of the electronic access control system market share in 2023.
The residential sector is anticipated to register a significant CAGR during the forecast period.
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 3,613.19 Million in 2023. Moreover, it is projected to grow by USD 3,888.08 Million in 2024 and reach over USD 7,573.72 Million by 2031. Out of this, China accounted for the maximum revenue share of 35.2%.
As per the electronic access control system market analysis, the Asia Pacific region's growing pace of urbanization and development offers lucrative development prospects for the market. Additionally, the growing residential and commercial sectors are contributing to the market growth in the Asia-Pacific region.
North America is estimated to reach over USD 9,946.83 Million by 2031 from a value of USD 5,042.45 Million in 2023 and is projected to grow by USD 5,397.72 Million in 2024. The market in North America is mainly driven by their increasing deployment in residential and commercial sectors including offices, airports, educational institutes, and financial institutions among others.
Furthermore, the analysis of regional trends portrays that factors including the increasing incidence of robberies in commercial and residential spaces in the region are projected to drive the electronic access control system market expansion in North America during the forecast period.
As per the electronic access control system market analysis, Europe is anticipated to witness substantial growth that is backed by the increasing adoption of these systems in commercial and industrial buildings. Companies invest in innovative technologies to cater to the surging demand for advanced access control systems across the region.
The Middle East, Africa, and Latin America are expected to grow at a considerable rate due to increasing investments in the development of residential, commercial, and industrial buildings in countries such as Brazil, UAE, and others.
The electronic access control system industry is highly competitive with major players providing products to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the global electronic access control system market. Key players in the electronic access control system industry include-
Product Launches:
Partnerships & Collaborations:
Report Attributes | Report Details |
Study Timeline | 2018-2031 |
Market Size in 2031 | USD 28,940.45 Million |
CAGR (2024-2031) | 8.8% |
By System Type |
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By End User |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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Electronic Access Control System Market size is estimated to reach over USD 28,940.45 Million by 2031 from a value of USD 14,785.44 Million in 2023 and is projected to grow by USD 15,816.87 Million in 2024, growing at a CAGR of 8.8% from 2024 to 2031.
Asia-Pacific is the region experiencing the most rapid growth in the electronic access control system market.
The electronic access control system report includes specific segmentation details for system type, end user, and region.
The key participants in the electronic access control system market are Honeywell International Inc. (U.S), Hangzhou Hikvision Digital Technology Co., Ltd. (China), ADT (U.S), Allegion (Ireland), Assa Abloy (Sweden), Johnson Controls Inc. (U.S), Inovonics Wireless Corporation (U.S), Bosch.