Access control can be described as the selective restriction of access to a particular room, place, or building. Authorized access can be operated using turnstiles, gates, doors, and secure installation such as barriers, safes, and bollards. With the growing modernization and urbanization, the electronic access controls are widely accepted in recent years, providing a flexible and efficient way of securing buildings. The electronic access control system is automatically controlled and gives authorized personnel access to specific facilities. According to a study published by Insure Insights, Building Access Control Security Market is anticipated to grow at a CAGR of 13.9% during the forecast period.

Top Driver: Increasing Crime Rates and Efficiency to Protect Building Asset

Due to increasing crime rates across the world, public security has become a high priority. Access control systems play a crucial role in urban security by allowing users to exercise greater control over the building. Access control security provides the most effective way to protect personnel and assets from theft by limiting physical and virtual access to only identified and evaluated individuals, thereby gaining popularity in recent years.

On the other hand, lack of awareness among users about advanced security solutions and its usage in various applications is expected to hinder the growth of the building access control security market during the forecast period.

Biometric Readers to Make Crucial Contribution to Growth of Global Cognitive Computing Market

On the basis of offerings the market can be segmented into Biometric Readers, Multi-technology Readers, Electronic Locks, Hardware, Others. Biometric readers segment occupied a larger market share. On the basis of services Hosted, Managed, Hybrid. On the basis of vertical the market is segmented into Commercial, Manufacturing & Industrial, Military & Defense, Government, Residential, Education, Healthcare, Transportation.

Rising Number Of Cyber to Benefit North America Market

North America is advanced than in other regions in terms of the implementation of access control systems. The key companies in the US, Canada, and Mexico are making efforts to improve their expertise innovative access control systems and services. This provides them with increased competitive advantage to increase their share in the region’s access control market. The increasing number of cyber and malware attacks in the region has compelled many governments and security agencies to improvise security features in their transactions through the placement of RFID and biometric technologies, which is further causative to the overall growth of the access control market.

Players to Focus on Building Access Control Security Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Siemens, NW Security Group, Mitsubishi Electric, Johnson Controls, Tyco, Rockwell Automation, EMC Security, GardaWorld, ASI Security, Bodet Software, Honeywell, ADT, Salto, Isonas, Assa Abloy, Bosch among others could be at the forefront of the competition in the global market.

Siemens AG: In October 2014, Siemens AG has offloaded its security products business to US Company Vanderbilt Industries. The unit will be rebranded Vanderbilt International GmbH, the New-Jersey based acquirer announced on its website. Siemens, which earlier made the most disposals of any European industrial company, appointed the Rothschild investment bank in January 2013 to scope out a potential sale.

Vanderbilt Industries: In June 2015, Vanderbilt Industries, a global leader in the delivery of innovative, highly reliable technologies that help organizations ensure safety and security, announced that it has completed the acquisition of the Security Products business from Siemens. The purchase, originally announced in October 2014, expands Vanderbilt’s global business, and adds significant technology capabilities and advantages to the existing product portfolio.

Scope of the Report

By Offerings

• Biometric Readers
• Multi-technology Readers
• Electronic Locks
• Hardware
• Others

By Service

• Hosted
• Managed
• Hybrid

By Vertical

• Commercial
• Manufacturing & Industrial
• Military & Defense
• Government
• Residential
• Education
• Healthcare
• Transportation

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.