ALBANY, New York, January 23, 2018 /PRNewswire/ --
According to a new market research report published by Transparency Market Research entitled "Wireless Access Control Market [By Component Type -Hardware, Software and Services; By Application- Door Access Control and Non-Door Access Control; By End-Use Industry - Residential, Commercial and Institutional - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025," the global wireless access control market is expected to reach US$ 1,657.0 Mn by 2025. The market is anticipated to expand at a CAGR of 7.9 % during the period from 2017 to 2025. The global wireless access control market is mainly driven by increased innovations in wireless access technology & functionality. Further introduction of access through smartphones and increased adoption of wireless access control in residential segments. Electronic door locks are further accelerating the growth of wireless access control.
The usage of wireless access control has become the most important part of the commercial buildings and offices. It is one of the most secure, convenient and efficient way of securing home and commercial spaces these days. These access control systems is used to monitor and control the incoming and outgoing of everyone associated with the premises of the facilities along with the time recording. Here the authority in charge of the premises can specify who has the access and to where everyone has access. Wireless access control systems does not require power and signaling cables and thus there is no need to disrupt the premises infrastructure. The main advantage of using wireless access control is its ability to integrate with existing access control systems and other security systems such as video surveillance, intrusion detection, fire alarms and others. There has been continuous value additions in access control systems technology and designs that is extremely being well adopted by the market.
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Global wireless access control market is bifurcated on the basis of component type, application, end-use industry and region. By component type, the market is further segmented into hardware, software and services. Hardware is further segmented into readers, locks, transceivers, batteries and others. Hardware consists of major share in the component segments. RFID readers & tags are almost used in every commercial and institutional premises for access control. RFID tags & readers are most commonly preferred in large organization where the employee size is more than 200. Biometrics is preferred for smaller organizations. Nowadays, there is an increase adoption of mobile credentials that is the use of smartphones for access control. Smartphone access is gaining popularity due to its advantages over RFID as one does not forget to carry their smartphones and there are less chances of mobile phones being getting damaged as compared to RFID's.
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By application, wireless access control market can be segmented into door access control and non-door access control. Door access control holds the highest market share in this segment. Door access control applications performs the primary function of time & attendance monitoring and providing access to valid users. Door access control keeps the premises safe from the intruders or unauthorized users. Further, non-door access control is anticipated to grow at highest CAGR of 12.9% during forecast period due to gaining popularity among end users.
By End-Use Industry, wireless access control market is bifurcated as residential, commercial and institutional. Commercial segment contributes the highest market share due to the necessity of securing premises from unauthorized users. Also, it helps to safeguard the organizations assets and employee personnel's. Institution segment includes government organizations, education institutes, military and defense, hospitals and others. In 2025, the commercial segment is expected to achieve 56.31% revenue share.
By region, the wireless access control market is bifurcated by North America (U.S, Canada, Rest of North America), South America(Brazil, Rest of South America), Europe (The U.K., France, Germany, Rest of Europe ), Asia Pacific(Japan, China, India, Rest of Asia Pacific), and Middle East & Africa ( GCC, Turkey, South Africa, Rest of Middle East & Africa). North America is expected to be largest revenue contributor with 31.3% market share in 2016 from the total wireless access control market, due to highest adoption of access control in both commercial and institutional segments and also the residential segment is gaining tremendous popularity in wireless access control segment due increased awareness, high disposable income and rising security concerns.
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The prominent players in the wireless access control market includes ASSA ABLOY Group, Dormakaba Holding AG, Johnson Controls Plc, Salto Systems K.S, Bosch Security System, Honeywell Security Group, Cansec System, Tyco Security Products, Godrej & Boyce Manufacturing Company, Altman Integrated Technologies and Nortek Security and Control LLC, among others also had an important share in global wireless access control market. For global wireless access control market, ASSA ABLOY Group and Dormakaba Holding AG held the largest market share in 2016.
Global Wireless Access Control Market, by Components
- RFID tags & Readers
- Mobile Credential
Global Wireless Access Control Market, by Application
- Door Access Control
- Non-Door Access Control
Global Wireless Access Control Market, by End-Use Industry
Global Wireless Access Control Market, by Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
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SOURCE Transparency Market Research