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The access control solutions market size is estimated to grow at a CAGR of 7.77% between 2023 and 2028. The market size is forecast to increase by USD 2.94 billion. The growth of the market depends on several factors, including the growing awareness of sophisticated data security threats, the increasing availability of biometric equipment, and the growing interconnectedness of devices. Access control is defined as a security technique that regulates who or what can view or use resources in a computing environment. It is a fundamental concept in security that minimizes risk to the business or organization. Access control solutions offer a range of features and capabilities, including identity and access management, visitor management, and surveillance integration, among others. These solutions are designed to help organizations improve their security and compliance posture while also streamlining access management processes and reducing operational costs.
The report includes a comprehensive outlook on the access control solutions market, offering forecasts for the industry segmented by Application, which comprises accounts management and identity synchronization, unified authentication, and others. Additionally, it categorizes End-user into government, BFSI, healthcare, and transportation, and covers Geography regions, including Europe, North America, APAC, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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Growing awareness about sophisticated data security threats is the key factor driving market growth. The global access control solutions market provides businesses with a secure and convenient way to manage access to their digital assets such as applications, data, and networks. Access control solutions offer several security features, such as identity and access management, multifactor authentication, and threat detection and response.
Moreover, access control solutions are designed to secure digital assets against both internal and external threats, including unauthorized access, hacking, and phishing attacks. As businesses become more aware of the risks associated with data security, there is an increasing demand for access control solutions. This is driving the growth of the market, which is expected to continue during the forecast period.
Increasing government initiatives for implementing biometric access control systems is the primary trend shaping market growth. The governments have increased their spending on biometric access control systems and reduced the adoption of other non-biometric technologies due to their constraints of being lost or stolen by the individual. Furthermore, due to instances of terrorist threats at airports in the past, governments of various countries, including India, Somalia, Syria, and Afghanistan, are deploying biometric access control systems to thoroughly verify an individual based on behavioral and physiological characteristics, such as iris scans and fingerprint scans that are embedded in passports and visas.
Moreover, fingerprint recognition and iris recognition are increasingly being employed for large-scale applications, particularly in government-supported projects such as the Aadhaar initiative taken by the Government of India. Thus, such enhancements in government investments and initiatives for the implementation of biometric access control systems are likely to drive the growth of the global access control solutions market during the forecast period.
Lack of technological awareness about access control solutions is a challenge that affects market growth. The rate of adoption and implementation of access control solutions across the world during the initial years was low because of the lack of awareness of advanced systems among industries and organizations. This flat rate of adoption was more prevalent in emerging economies. However, with technological maturity, the global access control solutions market scenario is expected to change for the better during the forecast period.
Furthermore, the implementation and adoption of access control solutions include costs related to operation and management. The access control solutions have a steep learning curve that may add to the costs and overall unattractiveness of the solution. The lack of awareness of this technology is expected to impede the implementation of this solution and the growth of the market during the forecast period.
The market share growth by the accounts management and identity synchronization segment will be significant during the forecast period. End-users such as government, healthcare, and BFSI are experiencing the need to administer and manage access to confidential information and applications distributed across external and internal application systems. Nowadays, enterprises are inclined toward enforcing multiple-channel user access, including cloud, social, and mobile. Simultaneously, they also need to cater to business needs such as compliance and audit reporting.
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The accounts management and identity synchronization segment showed a gradual increase in the market share of USD 2.14 billion in 2018. Access control solutions help reduce risk and strengthen compliance by monitoring and protecting user access in multi-perimeter environments. These access control solutions aid in safeguarding valuable applications and data with security policy enforcement and business-driven identity governance. Thus, such factors will drive the growth of the accounts management and identity synchronization segment of the global access control solutions market during the forecast period.
The global access control solutions market segment by end-user for the Government has various government organizations at the local, state, and national levels. Government agencies such as defense, intelligence, and law enforcement, often require high-level security measures to protect classified information, and access control solutions can provide a cost-effective solution for these organizations. Access control solutions can also be used in public sector buildings such as courthouses, municipal buildings, and other government offices, to regulate access to specific areas. This can help prevent unauthorized access, protect sensitive data, and improve overall security measures. Thus, such factors are expected to drive the growth of the government segment of the market during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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