According to a new report, published by KBV research, The Global Access Control Hardware Market size is expected to reach $7.6 billion by 2030, rising at a market growth of 6.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 61,922.7 Units experiencing a growth of 5.5% (2019-2022).
The Card-based Readers segment lead the Global Access Control Hardware Market by Application in 2022 achieving a market value of $2.2 billion by 2030. Card-based readers are primarily used for the identification and authentication of individuals seeking access to a secured area. Users present their access cards, which may be RFID cards, smart cards, or proximity cards, to the reader for verification. Access control systems, including card-based readers, enhance security by preventing unauthorized individuals from entering restricted areas. This is essential for protecting valuable assets, sensitive data, and ensuring the safety of occupants.
The BFSI segment is growing at a CAGR of 4.9 % during the forecast period. The BFSI sector prioritizes security and data protection since financial transactions and consumer data are sensitive. As a result, there has been a heightened demand for advanced access control solutions to safeguard physical premises, data centers, and critical infrastructure. Moreover, regulatory compliance requirements, such as those outlined in the Payment Card Industry Data Security Standard (PCI DSS) and financial industry-specific regulations, have compelled organizations within the BFSI sector to invest in robust access control systems to meet stringent security mandates.
The North America region dominated the Global Access Control Hardware Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.6 billion by 2030. The Europe region is anticipated to grow at a CAGR of 6.4% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 7.6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/access-control-hardware-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bosch Security Systems GmbH (Robert Bosch GmbH), Suprema, Inc., Cisco Systems, Inc., Johnson Controls International PLC, Schneider Electric SE, Siemens AG, Honeywell International, Inc., Thales Group S.A., Southco, Inc. (Touchpoint, Inc.) and Hanwha Vision Co., Ltd. (Hanwha Corporation)
By Application (Volume, Units, USD Million, 2019-2030)
By Vertical (Volume, Units, USD Million, 2019-2030)
By Geography (Volume, Units, USD Million, 2019-2030)
Companies Profiled
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