Access control market size is valued at USD 9.9 billion in 2023 and is projected to reach USD 14.9 billion by 2028; growing at a CAGR of 8.4% from 2023 to 2028. Factors such rising concern regarding data security and increased adoption of IoT-based security systems are driving the growth of the market during the forecast period.
Key players operating in the market ASSA ABLOY (Sweden), Johnson Controls (Ireland), dormakaba Holding (Switzerland), Allegion plc (Ireland), Honeywell International (US), Identiv, Inc. (US), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Bosch Security Systems Inc. (Germany), and Thales (France). Major strategies adopted by top players to enhance their product portfolios, provide services, increase their market share, and expand their presence in the market mainly include new product launches with the latest technology and innovation and deals, such as acquisitions and partnerships.
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Top 3 Players in Access Control Market:
ASSA ABLOY (Sweden)
ASSA ABLOY (Sweden) held a share of ~21% of the access control market in 2021. It is one of the leading diversified manufacturers of door-opening solutions, such as access control, mechanical and electromechanical locking, identification technology, entrance automation, security doors, hotel security, and mobile access systems. The company’s major series of access control system platforms includes CLIQ, Seos, Aperio, and Accentra. The company offers its products through its divisions operating in 70 countries. It is also focused on strategic acquisitions to expand its product portfolio, gain access to new technologies, and enter new markets. Moreover, it focuses on research and development for products and services through its development laboratories and testing facilities.
DORMAKABA HOLDING (US)
dormakaba holding held the second position in the access control market in 2021. The company has a presence in over 50 countries (production sites and distribution and service offices). It has many brands under it, such as Keyscan, Best, Dorma, Dormakaba, Legic, etc. It offers access solutions and key & wall solutions through its access control division. Moreover, the company focuses on providing innovative products according to the customers’ demands. Also, the company focuses on mergers and acquisitions to expand its business and strengthen its product portfolio.
Johnson Controls (Ireland)
Johnson Controls held 18–19% of the access control as a service market in 2021. The company is focusing on several inorganic growth strategies to strengthen its market position, such as product launches and acquisitions. It focuses on investing in R&D to sustain its position in the market.
Access Control Market by Offering (Hardware-Card-based, Biometric, & Multi-technology Readers, Electronic Locks, Controllers; Software; Services), ACaaS (Hosted, Managed, Hybrid), Vertical and Region- Global Forecast to 2028
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