The global access control and authentication market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing adoption of access control systems in organizations, owing to improved infrastructure and rising criminal activities is a key factor expected to drive growth of the global market over the forecast period.
The global access control and authentication market report has been segmented on the basis of product type, end-use industry, and region. On the basis of product type, the target market is segmented into electronic access control, biometrics, card-based access control, radio frequency identification, automatic number plate recognition, and document reader. On the basis of end-use industry, the target market is segmented into transportation and logistics, banking, financial services and insurance, government and public sector, utilities and energy, IT & telecom sector, industrial, retail, healthcare, educational institutions, and others (media & entertainment, manufacturing sector, etc.). The healthcare end-use industry segment is expected to register significant share in terms of revenue over the forecast period, owing to its enhanced patient monitoring functionality.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to advanced products development, and government initiative for public security and safety in various countries in this region. The market in Asia Pacific is expected to register significant share over the forecast period, owing to technological advancements and increasing adoption of access control and authentication in various organizations in developing countries such as India, Japan, and China in the region.
Key players operating in the global access control and authentication market include Bosch Sicherheitssysteme GmbH, Panasonic Corporation, 3M Company, Honeywell Group, Axis Communications AB, Cisco Systems, Inc., Access Limited, Suprema Inc., Canon Inc., and Genetec Inc.