Access Control Market Size to Hit $20.02 billion by 2027; Increasing Adoption of Multimodal Authentication System to Augment Growth

The global access control market size is expected to showcase exponential growth by reaching USD 20.02 billion by 2027. This growth is attributable to the increasing demand for multimodal authentication amongst enterprises that will favor the demand for advanced access control systems across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Access Control Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Type (DAC, MAC, RBAC), By Application (Homeland Security, Commercial, Residential, and Industrial), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 10.31 billion in 2019 and is likely to exhibit a CAGR of 8.7% between 2020 and 2027.

Centrify Debuts with Delegated Machine Credentials (DMC) to Reduce Burden of Manual Processes

In July 2020, Centrify, a leading identity-centric Privileged Access Management (PAM) solutions provider, announced the maiden launch of its Delegated Machine Credentials (DMC) as a part of the Centrify Privileged Access Service. The company aims to empower automation while reducing risks associated with the complex and infrastructure-as-code-based elastic environment. Additionally, the company’s DMC aids in significant reduction in reliance on service accounts with static credentials that are utilized to access passwords for services and workloads on the cloud or on-premises systems. This leads to increased agility by reducing manual processes of an organization.

David McNeely, Chief Strategy Officer of Centrify, said, “The massive growth of and service and machine accounts within an organization creates several opportunities for cyber-attackers to sneak and steal valuable data of the enterprise. Centrify’s infrastructure-as-code access control solution enables PAM as a first-class citizen across the CI/CD pipeline that eliminates the need for several potential exposure points.”

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https://www.fortunebusinessinsights.com/access-control-market-104592

Increasing Demand for Multimodal Authentication to Accelerate Growth

With growing demand for data security within an organization, the multimodal authentication system is gaining prominence. Several industrial applications such as manufacturing, oil & gas, military & defense, and power plants, among others require a two-factor authentication system-based security to prevent sensitive data theft. This is expected to propel the demand for multimodal authentication for access control systems globally.

On the contrary, high initial cost of setting up the authentication system equipped with extra level of security may lead to limited adoptions amongst small enterprises that may affect the global access control market growth to some extent in the forthcoming years.

Product Innovation by Major Players to Intensify Industry Competition

The global market is consolidated by the presence of major companies such as Honeywell International, Inc., Bosch, HID Global Corporation, and others. These companies are striving to maintain their presence by developing advanced access control systems to cater to the rising security concerns amongst enterprises. Moreover, the adoption of organic and inorganic strategies by other key players is expected to bode well for the market growth.

Industry Development:

• July 2020 – Identiv, Inc. introduced battery less and touchless uTrust UHF Credentials for long-distance physical access control. This technology, according to the company, supports extremely hygienic access for government, hospitals, and manufacturing and industries customers.

List of the Companies Profiled in the Global Market:

• Nedap N.V. (Netherlands)


• Genetec Inc. (Montreal, Canada)


• Honeywell International Inc (North Carolina, United States)


• Dots Info Systems (India) Pvt. Ltd., (Mumbai, India)


• Bosch Sicherheitssysteme GmbH (New York, United States)


• KISI Inc. (Brooklyn, NY, United States)


• HID Global Corporation (Texas, United States)


• Matrix Comsec Pvt. Ltd. (Gujrat, India)


• Enterprise Systems Corporation (Texas, United States)


• Perco (Saint Petersburg, Russia)


• Identiv, Inc. (California, United States)


• Centrify Corporation (California, United States)


• dormakaba Holding AG (Rümlang, Switzerland)


• Allegion plc (Ireland)


• Johnson Controls, Inc. (Cork, Ireland)


• ASSA ABLOY group (Stockholm, Sweden)


• Ekran System Inc. (California, United States)


• SolarWinds Worldwide, LLC. (Austin, Texas, United States)


• TED Systems, Lenexa, KS. (Lenexa, United States)


• Gemalto N.V. (Amsterdam, Netherlands)


• IMEDIA France (Courbevoie, France)


• Siemens Aktiengesellschaft (Munich, Germany)


• Mace Security International Inc. (Ohio, United States)

Further Report Findings:

• North America stood at USD 3.81 billion in 2019 and is expected to hold the highest position in the global access control market in the forthcoming years. This is attributable to the presence of developed surveillance infrastructure that propels the demand for wireless access control systems in the region.


• The market in Europe is expected to showcase exponential growth backed by the growing adoption of computing devices such as smartphones, wearables, laptops, and biometrics in the region between 2020 and 2027.


• The homeland segment, based on application, held a market share of about 10.7% in 2019 and is likely to gain momentum backed by the growing security concerns across residential places across the globe.   

Table of Segmentation: