The overall access control reader market is expected to grow from USD 3.0 billion in 2019 to USD 7.5 billion by 2024, at a CAGR of 12.5%. Rapid urbanization in emerging economics provides major opportunities for the growth of the access control reader market. The access control reader market growth is mainly driven by the high demand for enhanced security; contactless interfaces to boost the adoption of smart cards; and increased convenience, enhanced security identity management, and improved human resource management.
Key players operating in the access control reader market include ASSA ABLOY AB (Sweden), dormakaba Holding AG (Switzerland), Allegion plc (Ireland), Identiv, Inc. (US), IDEMIA Group (France), Nedap N.V. (Netherlands), Suprema HQ Inc. (South Korea), Gemalto N.V. (Netherlands), NAPCO Security Technologies, Inc. (US), and Avigilon Corporation (Canada). Many major companies focus on organic growth strategies, such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to boost their revenue.
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Top 2 players in access control reader market:
ASSA ABLOY AB (Sweden) is a leading provider of a wide variety of access solutions, such as access control systems, mechanical and electromechanical locks, digital door locks, identification products, entrance automation solutions (primarily for identity and access management), security doors, hotel security solutions, and mobile access systems, as well as various other related products and services. It also offers identity and access management tools, biometric systems, and government IDs for authenticity and protection. The company developed Aperio technology to complement its electronic access control systems by providing access to an unlimited number of existing or new doors. The company focuses on meeting requirements of customers across the world with a worldwide network of distributors. In September 2018, The company acquired Crossmatch (US), a leading provider of biometric identity management and secure authentication solutions. This acquisition is expected to provide growth opportunities to ASSA and enhance its position as one of the leading biometric companies in the world.
dormakaba Holding AG (Sweden) is one of the leading companies offering security and access control solutions. It provides physical access systems, door controls/door closers, swing door operators, automatic sliding and special doors, manual sliding door systems, revolving doors, glass fittings for interior swing doors and toughened glass assemblies, architectural pulls and handles, locks, panic hardware and exit devices, electronic access control systems, glass partitions, movable partitions, and horizontal sliding walls. The company has strong distribution channels and sales networks. With its presence in Europe, the Americas, and APAC, the company is focusing on expanding globally. The company also focuses on mergers and acquisitions to expand its business and strengthen its product portfolio. For instance, in 2017, dormakaba acquired certain Mechanical Security businesses from Stanley Black & Decker, Inc. (US), a diversified global provider of hand tools, power tools, and related accessories; electronic security solutions; healthcare solutions; engineered fastening systems; and more, to enhance its prospects for further profitable growth.
Access Control Reader Market by Reader Type (Card-based Readers, Biometric Readers, and Multi-technology Readers), Smart Card Technology Type (iCLASS, MIFARE, DESFire, Advant), Vertical, and Geography - Global Forecast to 2024
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