The Growing Need for Authentication and Identification Due to the Prevalent Threats Across Office Environments and Industrial Plants Accelerate the Growth of the Industrial Access Control Market.
NewYork, NY -- (SBWIRE) -- 10/12/2021 -- The Industrial Access Control Market size is estimated to grow at a CAGR of 8.6% during the forecast 2021-2026 to reach $230 billion. The Industrial Access Control is a system that provides security from various unauthorized access across restricted sectors, such as banks, airports, industrial areas and others. The wide range of Industrial Access technological solutions provide appropriate measures, such as protection from data breach, equipment theft, radio-frequency identification, cost overruns along with employee safety. Security is the most ubiquitous concern for commercial, educational, industrial, defense and federal organizations that has significantly triggered the demand for the Industrial Access Control Industry. The high-quality security access like biometric scanners, key cards, video surveillance systems and other automated access control keep the workplace secure, serve geo-diverse remote sites security purposes, offer multi-factor authentication and also, create an overall well-designed security system. Moreover, decentralized management and changing topology accelerate the pressure to integrate building access systems, which influence the growth of the Industrial Access Control market positively.
Industrial Access Control Market Segment Analysis - By Type
By type, the Industrial Access Control Market is segmented into Hardware, Services and Multi-Technology Readers. The Hardware segment is estimated to hold the highest share and grow at highest CAGR of 15.60% during the forecast period 2021-2026, owing to the growing demand for security and surveillance across selective restricted areas like plants, government facilities, and other commercial places, along with the significant investment in Electronic Access Control (EAC) system by the private sector organizations to denote high-end security. The increasing demand among various industry verticals for card readers and Biometric readers to record every detail within the premises and monitor employees are one of the drivers for the growth of the Industrial Access Control Market. In brief, such measures are practiced to identify potential danger or uncertainty across varied industrial environments, such as Research Centers, workplace, Pharmaceutical and chemical laboratories, Food Industries, Data Processing Centers, Prisons, Defence and many more. In November 2019, Fujitsu launched the "FUJITSU Security Solution AuthConductor V2" which offers various authentication methods, such as palm vein authentication, to deliver comprehensive biometric authentication support for the office environment. With such an upgrade solution launch for unparalleled convenience with the multi-factor authentication will drive the growth of the Industrial Access Control Market.
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Industrial Access Control Market Segment Analysis - By End-User Industry
By End-User Industry, the Industrial Access Control Market is segmented into Aerospace and Defense, Transportation / Logistics, Power (Hydro, Thermal, Nuclear and others), Medical & Pharmaceutical , General Manufacturing, Food and Beverage, Automotive Industry, Electronics, Utilities, Metal Processing & Fabrication and others. The Power Industry sectors are analyzed to register the highest shareholder and grow at a CAGR of 7.35% during the forecast period of 2021 to 2026, owing to the surging adoption of Multi-Technology Readers and biometrics for strengthening security across the industry perimeter. In fact, the growing security concerns lead to the rapid advancements in the access control technology, including finger-vein recognition technology and radio-frequency identification solution. In November 2019, Barclays and Hitachi launched next-generation finger vein scanners, with features like Bluetooth technology for wireless connectivity and activity screen for additional security. The present Covid-19 pandemic has exposed the requirement for optimum security implementation and deployment of multi-factor authentication to mitigate any threat due to extensive lockdown and fragile market condition. Hence, contactless biometric systems, like iris recognition and face recognition are expected to grow and drive the market. In October 2020, IDEMIA launched VisionPass, an advanced contactless facial recognition access control device that offers frictionless and hygienic experiences to the users, thereby granting complete protection across commercial premises. These launches of Authentication systems for improved security solutions across industrial perimeters are driving the Industrial Access Control market.
Industrial Access Control Market Segment Analysis - By Geography
North America is analyzed to be the major region, and estimated to grow at a CAGR of 11.8% over the forecast period 2021 to 2026 for the Industrial Access Control market, owing to the massive diffusion of wireless networking that has brought revolutionary communication technologies across all the industrial sectors, along with hospitals, banks and insurance companies, SaaS providers and so on. Moreover, the high adoption of electronic health records across the hospitals in the U.S.A, as a value-added care service drives the next-generation biometric solutions to ensure multilayered protection for pertinent healthcare data. Due to Covid-19 pandemic, many healthcare providers are integrating Biometrics innovations not only for surveillance but also for temperature-detection in reference to disease-containment efforts, globally. In June 2020, Silent Sentinel launched the Fixed Modum, a range of standoff fever detection cameras, designed for detecting temperature within 0.3 degrees accuracy. As businesses deal with intellectual property as well as privileged data, the constant need for Attribute-based Access Control is on rise. In September 2019, Honeywell launched a new Industrial Cybersecurity Platform, which is designed to enable business organizations to protect their operational technology (OT) as well as industrial internet of things (IIoT) assets from cyber threats. Hence, these are the factors that established the pertinence of access control systems, which paved the growth of the Industrial Access Control size within the region.
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Industrial Access Control Market Drivers
Growing need for authentication and identification due to prevalent threats
Biometric technology is evolving to denote the fundamentals of authentication in a more secure and convenient method. Some of the trends are mobile biometric technology for controlled office environments, Multimodal Biometric Authentication Systems for various industry verticals for supreme authenticity and Cloud Based Biometric Solutions. In October 2020, Researchers from University at Buffalo, The State University of New York developed 3D finger vein biometric authentication that offers optimum security as faking any vain pattern is impossible. On the other hand, Mobile Biometric technology is widely adopted for effective and swift identification, for example, in Iraqi automated border control systems for secure checkpoints and border protection from terrorists. Furthermore, for supreme identification capacity, more companies are adopting radio-frequency identification solutions. In February 2021, HawkEye 360 Inc., the first commercial company to use formation-flying satellites to create a new class of radio frequency (RF) data and analytics, launched Mission Space, the first commercial platform purpose-built to provide the RF geospatial intelligence analysis. All such breakthroughs for commercial Access Control systems accelerate the growth of the Industrial Access Control market.
Rising E-Health initiatives
The strengthening of healthcare implementations such as safety, quality and efficiency of services through information technology is known as E-Health initiative, which is widely adopted by hospitals to denote as the country's "fully operational" E-health initiatives. In April 2020, Global ID and Idiap Research Institute collaborated to design contactless vein biometric scanner for healthcare sectors due to rising concern regarding cyber security and hygiene factors according to the Swiss Confederation's E-Health project. All these seamless connected environments through cutting edge-solution, such as EAC systems, latest materials handling equipment, smartphone and biometric credentials will drive the Industrial Access Control market.
Industrial Access Control Market Challenges
Relatively expensive investment
Biometrics for security is considered as the significant investment to install in modern-day tech park and industry plants. The more advanced security system defines extravagant investments and thus, many end-users are reluctant to upgrade present biometric authentication systems, which again hinder the growth of the Industrial Access Control industry outlook.
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by some of the players in the Industrial Access Control Market. The Industrial Access Control Market top 10 companies include Bosch Security and Safety Systems, ASSA ABLOY, Honeywell Commercial Security, Johnson Controls International PLC, Gemalto NV, Axis Communications, Identiv, Inc., NEC Corporation, Panasonic Corporation, Suprema, Inc. and among others.
In November 2019, Assa Abloy acquired AM Group, an Australian industrial door company, which further strengthened the company's portfolio of entrance automation solution, and service profile across Australia.
North America is analyzed to be the major region, and estimated to grow at a CAGR of 11.8% over the forecast period 2020 to 2025 for the Industrial Access Control market, owing to the massive diffusion of wireless networking that has brought revolutionary communication technologies across all the industrial sectors.
The growing need for authentication and identification due to the prevalent threats across office environments and industrial plants accelerate the growth of the Industrial Access Control market.
The Hardware segment is estimated to hold the highest share and grow at highest CAGR of 15.60% during the forecast period 2021-2026, owing to the growing demand for security and surveillance across selective restricted areas like plants, government facilities, and other commercial places, along with the significant investment in Electronic Access Control (EAC) system
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