The Physical Access Control System Global Market Report 2023, provides comprehensive information on the physical access control system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Physical Access Control System Global Market Report 2023, the global physical access control system market size grew from $8.42 billion in 2022 to $9.48 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global physical access control system is expected to grow to $15.2 billion in 2027 at a CAGR of 12.5%.
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Technological advancements are a key trend gaining popularity in the physical access control system market. Major companies operating in the physical access control system market are focused on developing new technological solutions to strengthen their position. For instance, in February 2020, Openpath Security Inc., a US-based access control and security automation company, launched digital badging capabilities. These capabilities reimagined credential with Custom Designs that has two-way communication and enterprise-grade security capabilities to bridge the physical and digital security gaps. It also allows users to match their physical ID badge and photo to a digital credential to enhance the security process.
The physical access control system market is segmented:
1) By Component: Hardware, Software, Services
2) By Technology: Keypads-based PACs, Card-based PACs, Biometric PACs
3) By End User: Banking, Financial Services and Insurance (BFSI), Healthcare, Manufacturing, Services, Communication and Media, Retail and Other Corporate, Transportation and Utilities, Other End Users
Top Major Players:
Honeywell Commercial Security
Bosch Security and Safety Systems
Safran Security
Assa Abloy AB
Tyco
North America was the largest region in the physical access control system market in 2022.
The table of contents in TBRC’s physical access control system market report includes:
1. Executive Summary
2. Physical Access Control System Market Characteristics
3. Physical Access Control System Market Trends And Strategies
4. Physical Access Control System Market – Macro Economic Scenario
5. Physical Access Control System Market Size And Growth
…………………………………………………………….
26. Africa Physical Access Control System Market
27. Physical Access Control System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Physical Access Control System Market
29. Physical Access Control System Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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