Access Control and Authentication (By Product Type - Electronic Access Control, Automatic Number Plate Recognition (ANPR), Document Readers; By End-use Industry - Transportation and Logistics, Government and Public Sector, Utilities/Energy Markets, Industrial, Retail, Business Organizations, Hospitality and Casinos, Healthcare Facilities, Educational Institutions, and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 04/04/2016 -- Transparency Market Research has announced the publication of a research study, titled "Access Control and Authentication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020." The report provides a comprehensive analysis of the global market for access control and authentication. According to the research study, in 2013, the global access control and authentication market was worth US$18.72 bn and is estimated to reach a value of US$49.89 bn by the end of 2020. The market is projected to exhibit a healthy 15.30% CAGR between 2014 and 2020.
Access control and authentication refers to several measures taken in order to control and monitor access so as to prevent the intrusion of a person into information database or property. It also concerns the restriction of physical access to unauthorized individuals in facilities needing high security. These systems are sophisticated tools and are used to prevent crimes, which may arise in several public places including multiplexes, banks, casinos, shopping malls, airports, and ATMs.
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On the basis of type, the global market for access control and authentication is classified into automatic number plate recognition, electronic access control, and document reader. The electronic access control segment is sub-categorized into card-based access control, biometrics, and radio frequency identification. Among these types, the biometric segment is anticipated to register a high growth rate in the forecast period.
By end use, in 2013, the transportation and logistics segment led the market, holding a 23% share in the global market for access control and authentication. Several terror attacks on transportation facilities in many countries have forced the governments to impose strict guidelines and invest extensively in improving the security standards. On the other hand, the healthcare segment is estimated to exhibit a progressive 20.40% CAGR between 2014 and 2020, owing to the rising demand for advanced security solutions to safeguard patient monitoring.
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By geography, in 2013, North America dominated the market, accounting for a 32% share in the global market for access control and authentication. Nevertheless, the Asia Pacific market for access control and authentication is anticipated to witness the most rapid growth amongst all other regions. The Asia Pacific market is projected to register a progressive 17.10% CAGR between 2014 and 2020. The rapid development of this region can be attributed to the increasing demand for access control and authentication from several countries such as Thailand, China, India, and Vietnam. In addition, the increased funding for the development of infrastructure is expected to nurture several investment opportunities in advanced security solutions in these countries.
Furthermore, the research study covers the competitive scenario of the global market for access control and authentication, including detailed company profiles and their product portfolio. Some of the major players operating in the global market for access control and authentication are Genetec Inc., Cisco Systems Inc., Panasonic Systems Networks Co. Ltd., 3M Company, Honeywell Security Group, Bosch Security Systems, Pelco Inc., Zhejiang Dahua Technology Co. Ltd., Axis Communications, and Canon Inc.
Key Segments of the Access Control and Authentication Market:
Access Control and Authentication Market, By Product Type
Electronic Access Control (EAC)
Card-based Access Control
Radio frequency Identification (RFID)
Automatic Number Plate Recognition (ANPR)
Access Control and Authentication Market, By End-use Industry
Transportation and Logistics
Government and Public Sector
Hospitality and Casinos
Access Control and Authentication Market, By Geography
Rest of the World (RoW)
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