Study Finds Industrial Access Control is on the Rise
Market Research Future found that Industrial Access Control is expected to reach $1.03 billion by 2023.
- By Sydny Shepard
- Mar 27, 2018
A study from Market Research Future found that Industrial Access Control is on the rise due to the recent increase in the number of terrorist attacks and criminal activities. These incidents are creating need for companies to deploy a high level of data and identity security therefore growing the access control market exponentially.
The study defines Industrial Access Control as a system that offers security from unauthorized access to restricted places and is mostly in use at airports, officers, industries, banks, hospitals and other facilities that manage proper access. These access control systems could be accessed using biometrics, smart cards or mobile credentials depending on the needs of the company.
The study indicates that the Industrial Access Control market growing rapidly over 10.8 percent of CAGR and is expected to reach $1.03 billion by 2023.
The findings show that the growth of the market is largely due to the rise in customization of the systems. Electronic access control offer smarter ways to access various commercial and industrial facilities adding in integrations with smart devices, locks and management systems.
The regional analysis of the access control market showed that North America is one of the leading regions across the world in terms of largest market share in the market. This rapid growth within the region is due to the high adoption of access control solutions and also the growing security concerns, technological advancements and deployments of wireless technology in security systems. The adoption of IoT-based security systems is also driving the rise in the market, according to the study.
Sydny Shepard is the Executive Editor of Campus Security & Life Safety.