Global Electronic Access Control Systems (EACS) Market Share Is Expected To Grow At A CAGR Of 6.91% By 2030

13-Jun-2023 | Facts and Factors

According to the Facts & Factors report, the global electronic access control systems (EACS) market size was nearly $37 billion in 2022 and is set to increase to about $67.5 billion by 2030 along with securing the highest CAGR of 6.91% from 2023 to 2030.

global-electronic-access-control-systems-market-share

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Electronic access control systems (EACS) are the digital networks that control access to security portals. Moreover, a large number of electronic access control systems possess an integrated intruder alarm system. In addition to this, end-users can access various sections with the help of electronic access control systems. They have the ability to maintain records of attendance and access. Additionally, the EAC systems are adaptable and technological breakthroughs are making them more effective.

Surging security concerns in a slew of firms will boost the expansion of the electronic access control systems (EACS) market across the globe. Criminal acts such as theft breaches and break-ins occurring in commercial and residential sectors will embellish the growth of the global market in the years ahead. The massive penetration of electronic access control systems in banking, IT, retail, and hospital industries will drive global market trends. Humungous demand for biometric technologies for offering authentic identification for minimizing illegal data access is likely to spearhead the expansion of the global market.

Nevertheless, less interoperability between EACS and current systems is likely to hinder the growth of the global electronic access control systems (EACS) industry. Escalating demand for new technologies such as NFCs is further decimating the growth of the global industry. However, the rise in road infrastructure development, establishment of the number of health centers, and residential constructions will open new growth opportunities for the global industry.

global-electronic-access-control-systems-market-size

Segmental Overview:

The global electronic access control systems (EACS) market is divided into component, vertical, and region. 

The component segment of the electronic access control systems market is sub-segmented into the biometrics readers, multi-technology readers, card-based readers, and electronic locks & controllers segments. Furthermore, the biometrics readers segment, which accounted for the largest share of the global market in 2022, is anticipated to lead the component segment in the forthcoming years. The segmental expansion in the next eight years can be attributed to the large-scale application of biometrics readers in facial recognition and fingerprinting techniques. An increase in the construction of smart homes and growing awareness related to safety & surveillance will proliferate the growth of the biometrics readers segment.

On the basis of vertical, the electronic access control systems industry across the globe is divided into commercial spaces, healthcare, government, education, residential, military & defense, and industrial segments. The residential segment, which held approximately half of the global industry share in 2022, is projected to lead the global industry surge in the ensuing years. The expansion of the segment in the analysis timeline can be owing to an increase in investments in smart home tools as well as smart devices in the residential sector.

Regional Overview:

Furthermore, the Asia-Pacific region, which contributed nearly 50% of the overall share of the global EACS) market in 2022, is slated to record massive revenue gains in the upcoming years. The regional market surge in the next few years can be subject to

Report Scope

Report Attribute

Details

Market Size in 2022

USD 37 Billion

Projected Market Size in 2030

USD 67.5 Billion

CAGR Growth Rate

6.91% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

Tyco International Ltd., Bosch Security Systems, Nedap N.V., Siemens Building Technologies, Identiv Inc., Honeywell International Inc., Johnson Controls, United Technologies Corporation., Schneider Electric, Dormakaba Holding, Assa Abloy AB, Magal Security Systems Ltd, NEC Corporation, Future Fibre Technology, Cisco Systems Inc., Godrej Consumer Product Limited., Hitachi Ltd., Allegion plc, Suprema HQ., and others.

Key Segment

By Component, Vertical, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Competitive Landscape:

Key players in the global electronic access control systems  market include Tyco International Ltd., Bosch Security Systems, Nedap N.V., Siemens Building Technologies, Identiv Inc., Honeywell International Inc., Johnson Controls, United Technologies Corporation., Schneider Electric, Dormakaba Holding, Assa Abloy AB, Magal Security Systems Ltd, NEC Corporation, Future Fibre Technology, Cisco Systems, Inc., Godrej Consumer Product Limited., Hitachi, Ltd., Allegion plc, and Suprema HQ.

 Recent Developments:

  • In the second quarter of 2022, TrustSEC, a leading firm in the information security domain focusing on creating secured hardware & software solutions, launched the TrustSEC Bio Access control card. The strategic move is likely to enhance the expansion of the electronic access control systems (EACS) market across the globe.
  • In the last quarter of 2022, SALTO Systems, a firm coining processes for replacing mechanical keys with digital & smart keys, launched its first new immersive XSperience center in Melbourne, Australia. The new center demonstrates new smart electronic access control providing an extensive range of electronic locks & lockers along with on-premise & cloud software solutions. The initiative will spearhead the growth of the electronic access control systems (EACS) industry in Australia.
  • In the second half of 2021, Fingerprint Cards AB, a global leading biometric firm, introduced the first biometric solution for the personal computer industry. The move will bolster the growth of electronic access control systems (EACS) business globally.

The global electronic access control systems (EACS) market is segmented as follows:

By Component

  • Biometrics Reader
  • Multi-Technology Reader
  • Card-Based Reader
  • Electronic Locks & Controllers

By Vertical

  • Commercial Spaces
  • Government
  • Education
  • Military & Defense
  • Residential
  • Healthcare
  • Industrial

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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