Global Access Control Reader Market – Industry Trends and Forecast to 2029

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Market Analysis and Size

The access control reader market is projected to witness considerable increase due to the increasing adoption of smart home solutions. According to the estimates by Allegion, 52% of millennials want to enter their homes using alternative entry methods such a smartphone, Pin code, biometric, card, or key fob. Over the next few years, it is anticipated that such development would increase demand for access control in residential spaces.

Global access control reader market was valued at USD 3.83 million in 2021 and is expected to reach USD 10.18 million by 2029, registering a CAGR of 13.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

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Market Definition

Access control systems prevent illegal access to a business's physical assets, like campuses, buildings, and cards, as well as its sensitive data, including networks, files, usernames, and passwords. It entails authenticating personal identification documents, confirming a website's legitimacy with a digital certificate, and comparing login credentials to previously saved information. Many businesses utilize access control systems, including user credentials, card readers, intercoms, audits, and reporting. They start the lockdown procedures and prevent unauthorized people from entering buildings and rooms.

Access Control Reader Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increasing Cyber And Malware Attacks and Other Frauds

There has been growing demand for connected systems and user security concerns due to rise in fraud and theft especially across the places such as data centers, companies, banks, financial institutions, retail stores, malls, hotels and entertainment studios. The need for wired access control systems for homes that can be accessed remotely is growing as smart home technologies gain popularity. The need to enhance protection while reducing costs is becoming more and more crucial across numerous industry sectors as the complexity and sophistication of frauds, cyberattacks, and government identification requirements expand.  Consequently, the benefits such as improved secured identity management and increased demand for enhanced authentication provided by the access control reader market is anticipated further to boost the demand for the access control reader market.

Additionally, the preference for wireless and IoT-based security systems in various applications, growing demand for the interconnected system and rapid urbanization are also estimated to bolster the market's overall growth. The increasing demand for enhanced authentication along with contactless interfaces is also estimated to accelerate the market’s growth over the forecast period.

Opportunities

• Increasing Advancements and Implementations

The growing advancements and implementations are further estimated to generate lucrative opportunities for the market, which will further expand the access control reader market's growth rate over the forecast period. Many access control systems just demand one kind of authentication, but businesses are increasingly implementing multifactor identification, a security measure that necessitates the user to provide two forms of identification in order to gain access, like entering a PIN and swiping a card. Combining numerous factors is necessary to ensure the security of both physical and digital credentials.

• Security Features Improvement by Government

Additionally, numerous governments and security agencies are compelled to improve safety and security features in their transactions through the deployment of RFID and biometric technologies, which will also offer numerous growth opportunities within the market.

Restraints/Challenges

• Low Awareness

Users' limited awareness about advanced security solutions further negatively impacts the market. This factors is expected to obstruct market growth.

• Risk of Data Breach and Privacy Issues

Since the biometric data is being gathered and processed, it is vulnerable to hackers, primarily since fraud techniques are developing quickly. According to research, deep artificial neural networks can be trained over time to replicate faces or just construct faces in general. Therefore, the security and privacy issues associated with illegal access and data breach are projected to be challenges for the access control reader market over the forecast period.

This access control reader market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the access control reader market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Access Control Reader Market

The access control reader market was immensely impacted by the outbreak of COVID-19. The market is expected to have major effects due to the suspension of construction projects across China which has the most quantity of construction operations. As a result, there isn't much of a market for access control readers. However, because both traditional physical access control readers and facial recognition readers do not require participants to physically touch a screen or a device, demand for both readers would continue to be reasonably high. Governments have deemed facial recognition technology to be the best investment for limiting coronavirus spread in densely populated areas. The manufacture of access control readers has been hampered by global manpower shortages and a delay in logistics. A number of e-commerce sites have stopped shipping non-essential goods, especially electronics, which negatively impacts the global market.

Global Access Control Reader Market Scope

The access control reader market is segmented on the basis of reader type, technology type, communication technology and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Reader Type

• Card-Based Readers
• Magnetic Stripe Readers
• Proximity Card Readers (125 kHz)
• Smart Card Readers (13.6 MHz)
• Biometric Readers
• Fingerprint Recognition
• Palm Recognition
• Iris Recognition
• Face Recognition
• Vein Recognition
• Voice Recognition
• Multi-Technology Readers

 Technology Type

• iCLASS
• MIFARE
• DESFire
• LEGIC Advant
• Others

 Communication Technology

• Cloud-Based
• Smartphone-Based
• IoT-Based

Vertical

• Commercial
• Government
• Residential

Access Control Reader Market Regional Analysis/Insights

The access control reader market is analyzed and market size insights and trends are provided by country, reader type, technology type, communication technology and vertical as referenced above.

The countries covered in the access control reader market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the access control reader market because of the region's increasing cyber and malware attacks. Moreover, the wide adoption of the practice of BYOD further fosters the growth of the market across the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to rapid industrialization, heavy investments in digitalization and high demand for security systems within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Access Control Reader Market Share Analysis

The access control reader market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to access control reader market.

Some of the major players operating in the access control reader market are

• ASSA ABLOY (Sweden)
• Ddormakaba Group (Switzerland)
• Allegion plc (Ireland)
• Identiv, Inc. (U.S.)
• IDEMIA (France)
• Nedap N.V. (Netherlands)
• Suprema (South Korea)
• Thales (France)
• NAPCO Security Technologies, Inc. (U.S.)
• Avigilon Corporation (Canada)
• phg PETER HENGSTLER GMBH + CO. KG (Germany)
• Paxtron Access Ltd. (U.K.)
• Castles Technology (Taiwan)
• DUALi Inc. (South Korea)
• Salto Systems (Spain)
• Axis Communications (Sweden)
• AMAG Technology (U.S.)
• Pax Technology Ltd. (China)
• Advanced Card Systems Ltd. (China)
• Gallagher Group (New Zealand)
• Vanderbilt Industries (U.S.)
• Brivo, Inc. (U.S.)

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