Albany, NY -- (SBWire) -- 04/05/2019 --Wireless access control is now widely been deployed with wired access controls in many commercial facilities and institutions. The main function of wireless access control is to provide authentication and authorization for the valid users. Wireless access controls uses radio frequency technology to communicate in real time and allows the end users to access to their facilities. It offers flexibility over traditional hardwired access control systems, as it is easy to install and cost lesser than traditional wired access control. In light of these advantages, the global wireless access control market was valued at US$830.37 mn in 2016 and is expected to grow at a CAGR of 7.9% from 2017 to 2025. Transparency Market Research states that the global wireless access control market will be worth US$1,657.0 mn by the end of 2025.
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Global wireless access control market is segmented into component, application, end-use industry, and by region. By component, the market is further segmented into hardware, software and services. Hardware segment is further bifurcated into readers, locks, transceivers, batteries and others. Again, the readers sub segment is further divided into biometric, RFID tags and readers, mobile credentials and others. A thorough analysis of the market suggested that the RFID tags and readers is popular amongst enterprises that have a capacity of over 200, whereas biometrics remained integral to smaller setups. However, the overwhelming usage of smartphones is likely to have a positive impact on smartphone access sub-segment.
By application, wireless access control market can segmented into door access controls and non-door access controls. Door access controls contributing highest market share, the main functions of door access control is used to provide access to authorized users, monitoring timing and attendance. Also, the non-door access controls that includes cabinet locks, server rooms and others are becoming the hottest trends. Analysts anticipate that the non-door access control segment is likely to surge at a CAGR of 12.9% during the forecast period.
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By end-use industry, the wireless access control market can be segmented into residential, commercial and institutional. Commercial industry enjoys the highest market share among others due to necessity of safeguarding the organization assets and employee's safety. The commercial segment is expected to the lead the global market as the need to secure workplace premises is an urgent one amongst enterprises of varying capacities. By the end of 2025, the commercial segment is projected to acquire a share of 56.31% in the global wireless access control market in terms of revenue.
Wireless Access Control Market - RFID Tags to Remain Popular Form
Wireless Access Control Market was valued at US$830.37 mn in 2016 which is expected to grow at a CAGR of 7.9% from 2017 to 2025.