dormakaba Holding AG (Switzerland), ASSA ABLOY (Sweden) and Johnson Controls (Ireland) are the Top Players in the Access Control Market
The global access control market is expected to grow from USD 8.6 billion in 2021 to USD 13.1 billion by 2026; it is expected to grow at a CAGR of 8.7% during 2021–2026. Continued adoption of Access Control as a Service (ACaaS); implementation of mobile-based access control; global proliferation of smart cities initiatives; and increasing urbanization in emerging countries are expected to provide huge growth opportunities to the access control market players. The growth of the access control market is driven by high adoption of access control solutions owing to increasing crime rates globally; technological advancements and deployment of wireless technology in security systems; and adoption of IoT-based security systems with cloud computing platforms.
Key players operating in the access control market include ASSA ABLOY AB (Sweden), Johnson Controls International plc (Ireland), dormakaba Holding AG (Switzerland), Allegion plc (Ireland), Honeywell Security Group (US), Identiv, Inc. (US), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Bosch Security Systems Inc. (US), and Thales Group (France). Many major companies focus on organic growth, such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to boost revenues.
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Top 2 players in access control market:
dormakaba Holding (Switzerland)
The company’s product portfolio includes locking systems ranging from cylinders, keys, and locks to fully networked electronic access solutions such as physical access systems and automatic door systems, as well as a comprehensive range of door hinges and fittings, and door controls. The company focuses on mergers and acquisitions to expand its business and strengthen its product portfolio.
ASSA ABLOY (Sweden)
The company manufactures and sells opening solutions such as locks, doors, gates, and entrance automation solutions. Along with it, the company’s product portfolio of trusted identities includes keys, tags, cards, mobile and biometric identity verification systems, among many others. The company’s wide range of access control products enables the company to stay competitive in this market. In addition, it focuses on expanding its market presence, enhancing product leadership, and improving product efficiency, along with cost reduction, to grow in the market.
Johnson Controls (Ireland)
The company offers security, fire detection, suppression, and life safety products and services. The company offers access control readers and cards, hosted access control systems, enterprise access control systems, visitor management systems, identity management systems, door entry systems, smart cards and biometric systems, and integrated access control systems. The company focuses on maintaining a multi-segment business platform to enhance the predictability and sustainability of its earnings and growth.
Related Reports:
Access Control Market with COVID-19 Impact by Offering (Card-based Readers, Biometric Readers, Electronic Locks, Controllers, Software, Services), ACaaS (Hosted, Managed, Hybrid), Vertical, and Region - Global Forecast to 2026
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