Between 2016 and 2020, the utilization of electronic access control systems experienced a steady growth, with a Compound Annual Growth Rate (CAGR) of approximately 7.5%. Notably, developed countries such as the U.S., Canada, Germany, and the U.K. held substantial shares in the global market during this period.

The market encompasses identity verification systems, intruder alerts, and peripheral security systems. Although there was a notable decline in demand for these systems during the second and third quarters of the fiscal year 2020, attributed to the global recession, there has been a resurgence post-recession, with anticipated promising growth in the medium term. This recuperation is expected due to the revival of commercial projects and advancements in technology within the field.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:https://www.factmr.com/connectus/sample?flag=S&rep_id=287

Access control systems find extensive applications across various sectors, ranging from commercial to defense. Among these systems, the market for identity verification systems is forecasted to grow at a noteworthy 9% CAGR, driven by the global emphasis on security and the expansion of security budgets.

The growing urban population worldwide, which now exceeds 45%, is leading to increased construction activities in both residential and commercial sectors. Governments globally, including those in developing countries like China and India, are prioritizing urbanization through smart city projects and infrastructure development. Consequently, the demand for electronic access control systems is on the rise, projected to exceed US$ 8.9 billion by 2031, particularly in the residential sector.

The U.S. stands as a significant player in the global electronic access control systems market, boasting a growth rate of 4.3% from 2016 to 2020. The market in the U.S. is expected to further grow at a CAGR of 6% over the long-term forecast period, driven by rapid product developments and supportive government policies. Additionally, the demand for high-security requirements in workplaces and personal spaces due to the busy lifestyle of the population further propels growth for electronic access control system manufacturers.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:https://www.factmr.com/connectus/sample?flag=RC&rep_id=287

The COVID-19 pandemic had a significant impact on the electronic access control systems market, leading to a decrease in sales in 2020. However, with a resurgence in demand since the latter part of 2020, sales have been increasing rapidly. Despite challenges in distribution frequency due to global supply chain disruptions, market recovery post-pandemic is anticipated, with the market expected to reach a valuation of US$ 12.1 billion by the end of 2021.

In terms of competitive landscape, companies in the market are focusing on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations, partnerships, and strengthening distribution networks. Notable developments include Panasonic’s multifunctional secure IC and Honeywell’s WIN-PAK 4.8 software, both aimed at enhancing security solutions in various applications.

Market Segmentation:

By Technology:

• Biometrics Electronic Access Control Systems
• Card-based Electronic Access Control Systems
• Keypad Electronic Access Control Systems
• Intruder Alarm Electronic Access Control Systems
• Perimeter Security Electronic Access Control Systems

By End User:

• Electronic Access Control Systems for Government & Defense
• Electronic Access Control Systems for Commercial & Institutional Use
• Industrial Electronic Access Control Systems
• Residential Electronic Access Control Systems

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251–1583
E-Mail: sales@factmr.com