The Global wireless access control market is expected to grow at a CAGR of 7.9% from 2017 to 2025.
A new detailed study titled “Wireless Access Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global wireless access control market is likely to grow at 7.9% CAGR during the assessment period.
In terms of revenue, the market is projected to surpass US$ 1.65 Bn in revenues.
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According to the report, the demand for wireless access control systems is likely to grow on account of increasing preference towards ease of use and convenience.
Further, compatibility and accessibility of wireless access control systems with existing systems such as fire alarms and video surveillance is also likely to boost adoption during the assessment period.
The report further opines that adoption of wireless access control systems in residential buildings is likely to promote growth of the market. Vendors are focusing on offering multi-pronged access such as use of smartphones to offer ease of use and convenience to users.
Although the outlook on wireless access control market remains positive, high cost vis-à-vis wired access control systems can impede adoption. The skepticism towards the benefits of wireless access control systems is also likely to restrain the growth of the market during the assessment period.
The report segments the global wireless access control market into end-use industry, applications, component and region. The end use industry segment is further sub-segmented into institutional, residential and commercial.
The applications segment is bifurcated into door access control and non-door access control. The component segment is categorized into services, software and hardware (readers (mobile tags & readers, RFID tags & readers, biometrics and others), batteries, transceivers, locks and others).
Geographically, the market is divided into key regions globally which are North America, South America, Europe, Asia Pacific and Middle East & Africa.
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Among the various components, demand for RFID tags and readers is likely to remain robust during the assessment period. In addition to RFID, demand for biometrics is also likely to remain robust during the assessment period.
By application, adoption in door access controls is likely to remain pervasive during the assessment period.
North America is likely to remain one of the largest markets for wireless access control systems, with the US at the forefront of demand. The report projects Asia Pacific to grow at the highest CAGR during the assessment period.
The report profiles some of the leading players operating in the market. Some of these players are ASSA ABLOY Group, Bosch Security Systems, Altman Integrated Technologies, Cansec System Ltd, Godrej & Boyce Manufacturing Company, Cisco Systems, Honeywell Security Group, DormaKaba Holdings AG, Johnson Control Inc, Nortek Security and Control LLC, Salto Systems K.S and Tyco Security Products.
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