Future Market Insights (FMI) projects the industrial access control product demand outlook to remain positive, with sales predicted to surpass US$ 3,653.5 Mn by 2021.
Continued use of access control systems across various industrial sectors such as automotive, paper and pulp, chemicals is expected to propel the year over year growth at 9.0% in the market.
Increasing applications of contactless biometrics like facial and iris recognition will drive the demand for access control solutions at 10.6% in the automotive sector.
The market for Iris biometrics is expected to gain momentum in the coming years with an impressive growth in healthcare and BFSI sector.
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2016-2020 Industrial Access Control Demand Outlook Compared to 2021-2031 Forecast
Evolving security threats and concerns related to data security and privacy are likely to drive the market over the coming years.
The industrial access control demand will rise at 9.0% CAGR between 2021 and 2031 in comparison above 8.0% CAGR registered during 2016-2020.
Cyber threats on cyberspace evolve through time capitalizing on new approaches. Concerns regarding cyber threats are rapidly growing on critical infrastructure such as electricity grids, manufacturing sectors, automotive industries and healthcare systems to use in terrorism, sabotage and information warfare.
As the range of potential threats continues to expand, organizations are increasingly find themselves in a position having to make security decisions, by configuring their security-related settings, responding to security-related events and messages, or enforced to specify security policy and access rights.
Examples of threats that access control system protects against are unauthorized access into areas and theft of mobile devices.
Attackers can gain entry into secured areas through tailgating, hacking into access control smart cards or breaking in through doors. Defenses for these threats include physical intrusion detection systems, biometrics, and alarm systems.
Access control is an effective method to ensure the safety and security of humans, industrial assets and data.
These systems are based on authentication and authorization and is the most widely used strategy for data security prevention and protection in data systems.
It can restrict access to key resources and prevent intrusion of illegal users or inadvertent operation of legitimate users.
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How is Increasing Awareness Regarding Cybercrime and IT Security Threats Driving Growth?
Owing to the various initiatives undertaken by companies across various countries, awareness about cybercrime and security data is increasing significantly.
Companies are taking steps to secure their data and enterprise information from various internal and external digital attacks on the cloud as well as on-premise.
Increasing awareness about cybercrimes and data security is expected to drive the industrial access control systems during the forecast period.
Furthermore, the digitization of workloads is growing steadily in various countries, such as India, China, the U.S., France, Germany, and Japan, and enterprises are adopting advance access control technologies such as biometrics and access control solutions.
While this exposes new endpoints to cyber-attacks and digital frauds, it also provides significant opportunities for the adoption of access control solutions.
A survey conducted on SMEs by Zurich, a cyber-attack insurance provider, revealed that in Asia Pacific, SMEs consider cybercrime as one of their top concerns.
What Is the Impact of COVID-19 Crisis on Industrial Access Control Sales?
The spread of COVID-19 pandemic gripped the globe in the start of 2020. Governments around world ramped up their measures to quickly respond to the COVID-19 pandemic.
Among various biometric technologies facial recognition, geolocation recording and facial biometric technologies is gaining traction to detect and identify infected peoples.
However, fingerprint verification systems are growing fears that fingerprint or hand scanners used to control facility access are potential vectors for the spread of coronavirus.
The global biometric systems has shown tremendous growth in the past few years, the widespread of fingerprint biometric recognition systems was the main reason behind the huge growth.
Historically, the market for fingerprint biometric systems has grown around 8% to 9% globally in the past 5 years. But due to the COVID-19 outbreak, the production of fingerprint biometric systems has slowed down, with the projected decline of nearly 6%-5% in Q1-Q2 2020.
The U.S. Russia, Spain, France, the U.K., Italy, and Germany are some of the worst-affected countries due to the COVID-19 outbreak.
These are major manufacturing hubs for sectors such as automobiles, transportation, aviation, construction, energy, and power.
Governments have issued various protocols to possibly replace fingerprint employee-tracking systems with a card-based system or facial recognition, hence opening doors for facial recognition systems.
However, as per research, the industrial access control manufacturers have started recovering from the first quarter of 2021, also the global market would possibly recover soon in the coming quarters of 2021.
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Industrial Access Control Market by Category
By System Type:
- Fingerprint Access Control Systems
- Face Recognition Access Control Systems
- Iris Recognition Access Control Systems
- Card-Based Access Control Systems
- Others
By Component:
- Hardware
- Fingerprint Scanners
- Facial Recognition Devices
- Iris Scanners
- Smart Cards
- Others
- Software
- Integrated Access Control Software
- Standalone Software/Middleware
- Facial Recognition Software
- Iris Recognition Software
- Others
- Service
- Professional Services
- System Integration & Installation
- Security Consulting
- Support & Maintenance
- Managed Services
- Professional Services
By Industry:
- Energy & Utilities
- Automotive
- Aerospace
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Electronics & Electricals
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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