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Access Control Market Worth $10.4 Billion by 2020

DALLAS, February 11, 2015 /PRNewswire/ --

According to a new market research report "Access Control Market by Product (Cards and Readers, Biometrics, Controllers, Management Software), Application (Commercial, Residential, Military and Defense, Government, Industrial, Healthcare, Education) and By Geography - Global Forecast and Analysis to 2020" , published by MarketsandMarkets, the Access Control Market is expected to reach $10.4 billion by 2020, growing at a CAGR of 10.6% between 2014 and 2020.

Browse 45 market data tables and 70 figures spread through 170 pages and in-depth TOC on  "Access Control Market".

Early buyers will receive 10% customization on this report. 

With the increasing technological proliferation, access control products have revolutionized the entire security industry. Simple mechanical and manual locks are being replaced by access cards and biometric systems. Increasing crime rate across the globe and rising terror activities have compelled the authorities in the commercial and government space to prioritize access control, which has ultimately acted as the driving factor for the growth of the access control market. On the other hand, technological unification is another major driver that has propelled the growth of the access control market; integration of access control products with biometrics, mobile devices and cloud services are some of the examples of technological unification.

The overall access control market has been segmented based on product, application, and geography. These segments have been separately detailed in the report. The access control market is expected to grow at an estimated CAGR of 10.6% between 2014 and 2020.

Geographically, the access control market has been segmented into North America (U.S., Canada, and Mexico), Europe (Germany, U.K., France, and Others), APAC (China, Japan, India and others) and rest of the world. The APAC market accounted for a market share of 27.4% in 2013 and is estimated to grow at a CAGR of 11.3% between 2014 and 2020. The North American region is also expected to grow at a significant CAGR of 11.1% between 2014 and 2020.

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The key players in the access control market include Assa Abloy AB (Sweden), Gallagher Group Ltd. (New Zealand), Cross Match Technologies (U.S.), Morpho SA (France), Honeywell Security Group (U.S.), AMAG Technologies (U.S.), Samsung Techwin Co., Ltd. (South Korea), Gemalto NV (The Netherlands), 3M Cogent, Inc. (U.S.), and NEC Corporation (Japan).

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