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.
Currently, the newer technologies are far more improved than those which were available early. Advances in wireless technology, combined with the increasing demand for reliable communication and property security systems, have led to a significant rise in the variety of wireless access control devices that are now available in the market.
Recently, a new study titled “Wireless Access Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025” has been publicized to the online repository of Market Research Hub (MRH), offering readers a clear and holistic perspective on the market’s evolution until the end of 2025. Additionally, the study also presents analysis of major types and application playing the significant role in the global wireless access control market’s growth over the forecast period.
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The main function of wireless access control is to provide authentication and authorization for the valid users. It has been analyzed that wireless access controls systems are being continuously upgraded with new innovative components.
For instance, the use of smartphones for access controls and the use of electronic door locks. One of the key trends in the wireless access control is the wide adoption of access control in the residential market due to rising security concerns.
Apart from that, these systems are widely employed in the commercial and institutional areas.
At first, the market overview section of the report demonstrates the market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. For a clear understanding, the report majorly focuses on some of the prime regions including the Middle East and Africa (MEA), Japan, Europe, Asia Pacific excluding Japan (APEJ), North America, and Latin America.
According to the study major findings, the global wireless access control market is likely to be worth US$1,657.0 mn by the end of 2025 from US$830.37 mn in 2016. During the forecast period of 2017 and 2025, the global wireless access control market is expected to surge at a CAGR of 7.9%.
On the basis of geographical analysis, the study finds that the upcoming residential and commercial segments of emerging economies are expected to create a new platform for expansion of the global wireless access control market. As mentioned, Asia Pacific region is anticipated to grow at highest CAGR due to rise in service industry in the emerging economies of this region.
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In terms of end-use, Commercial industry enjoys the highest market share among others due to necessity of safeguarding the organization assets and employee’s safety. Despite many positive factors, high cost of applying wireless access control in any organization could be a restraining factor in this market.
At last, the report comprises a detailed company profiles section including a synopsis of the key players functioning in the global wireless access control market. The key players are ASSA ABLOY Group, Johnson Controls Plc., Honeywell Security Group, Tyco Security Products, Salto Systems K.S, Cansec System, Dormakaba Holding AG Bosch Security System, Godrej & Boyce Manufacturing Company, Altman Integrated Technologies and Nortek Security and Control LLC.
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