The Asia Pacific Access Control Market would witness market growth of 9.0% CAGR during the forecast period (2023-2029).
The access control market has changed significantly over the past ten years due to the quick development of cloud computing and access control. The transition will probably take place during this time. New cloud-based technologies offer web- and cloud-based solutions for scalability, flexibility, real-time analytics, quick data access, integration with other systems and software, and data sharing internally and externally.
Historically, under a strictly regulated legal and technical framework, contactless biometrics were employed primarily for military access control and civil or criminal identification applications. Nonetheless, contactless biometrics has become widely used across all industrial sectors, including BFSI, education, healthcare, the military, and the defense industry.
China has also served as a prominent market for the past few years. This is largely due to the growing construction sector, combined with a sizable number of manufacturing industries and a rising crime rate. Over the following few years, demand would also expand due to the country's greater popularity of mobile-based access control solutions. The emergence of IoT and favorable legislation have created the framework for smart homes in the nation. In addition, programs like the Made in China 2025 strategy, the National New-type Urbanization Plan, and Smart Cities Projects are anticipated to drive the growth of the Chinese access control market. As a result, the access control market continues to expand in the region.
The China market dominated the Asia Pacific Access Control Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,377.4 Million by 2029. The Japan market is estimated to grow a CAGR of 8.3% during (2023 - 2029). Additionally, The India market would display a CAGR of 9.6% during (2023 - 2029).
Based on Offering, the market is segmented into Hardware (Card-based Readers, Biometric Readers, Multi-technology Readers, Electronic Locks, Access Controllers and Others), Software and Services. Based on Vertical, the market is segmented into Commercial, Military & Defense, Residential, Transportation, Manufacturing & Industrial, Healthcare, Government and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Access Control Market is Projected to reach USD 16.2 Billion by 2029, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International plc, Assa Abloy AB, Dormakaba Holding AG, Allegion Plc, Honeywell International, Inc. (Honeywell Commercial Security), Identiv, Inc., Nedap N.V., Suprema, Inc., Bosch Sicherheitssysteme GmbH (Robert Bosch GmbH) and Thales Group S.A.
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