Wireless Access Control Market Analysis, Size, Share, Growth, Trends and Forecast – 2023-2031

Wilmington, United States, 2024-Mar-01 — /EPR Network/ —

The Global Wireless Access Control Market has witnessed substantial growth in recent years, with the industry reaching a valuation of US$ 1.3 Bn in 2022. The market is poised to continue its upward trajectory, projecting a Compound Annual Growth Rate (CAGR) of 8.4% from 2023 to 2031, ultimately reaching a value of US$ 2.6 Bn by the end of 2031. This surge is attributed to the increasing adoption of Internet of Things (IoT) and automation, the demand for robust security solutions, and advancements in biometric-based remote access management technology.

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Market Dynamics

Surge in IoT Adoption and Automation:

The widespread adoption of IoT devices has played a pivotal role in advancing automation within the security and intelligence community. These devices offer easy access and improved efficiency, contributing to the growth of the wireless access control market. The market is witnessing a rise in the integration of cloud computing and biometric-based remote access management technology, particularly in smart homes and cities.

Investment in Smart Security Solutions:

Key players in the industry are making significant investments in commercial smart security sensors and mobile-app-enabled wireless security systems. This strategic move aims to meet the escalating demand from real estate developers and large corporations, addressing the surge in cybercrimes and security concerns.

Rise in Cybercrimes and Security Concerns:

With the increase in security concerns globally, wireless access control systems have become integral in optimizing security measures. The industry is transforming the enterprise cybersecurity landscape, offering seamless integration with existing cybersecurity frameworks to protect premises and sensitive information.

Market Overview

Wireless Access Control System:

Wireless access control systems, replacing traditional control systems with Wi-Fi access capabilities, find applications in various settings, including gated communities, residential complexes, offices, and data centers. These systems offer advantages such as cost-effectiveness, ease of installation, and flexibility, although they are susceptible to cyberattacks, necessitating strict encryption and authentication processes.

Adoption of IoT and Biometric Access Control:

The adoption of IoT devices for monitoring spaces and the growing popularity of biometric access control, utilizing unique physical traits for authentication, contribute significantly to the market expansion. Cloud computing-based communication further facilitates remote monitoring, enhancing infrastructure security automation.

Regions Covered

• North America
• South America
• Asia Pacific
• Europe
• Middle East & Africa

Key Players:

• ASSA ABLOY Group
• Altman IM Ltd.
• Bosch Limited
• Cansec System Ltd.
• Cisco Systems
• Godrej & Boyce Manufacturing Company Ltd.
• Honeywell International Inc.
• Johnson Controls International plc
• DormaKaba Holding AG
• Nice S.p.A.
• Salto Systems, S.L.

Key Developments:

In December 2023, ICT launched the Protege wireless lock range in North America, offering enhanced convenience and security.

In February 2023, Axis Communications and Genetec Inc. partnered to introduce the first enterprise-level access control solution, combining Genetec’s software with Axis’s network door controllers.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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