The Access Control Solutions Market is being driven by Growing awareness about sophisticated data security threats
The Access Control Solutions Market is expected to grow at a CAGR of 7.77% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.94 billion. Governments worldwide have significantly boosted their investments in biometric access control systems due to the superior security features they offer. These systems, which utilize behavioral and physiological characteristics such as iris scans and fingerprint scans, are now preferred over non-biometric technologies due to their resistance to being lost or stolen. In light of heightened security concerns following terrorist threats at airports, countries including India, Somalia, Syria, and Afghanistan have implemented biometric access control systems for thorough individual verification. This strategic shift not only enhances operational efficiency but also significantly improves employee productivity during security checks. By utilizing advanced biometric technologies, airports can effectively identify potential threats and maintain a secure environment for travelers.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Accounts management and identity synchronization, Unified authentication, Others) End-user (Government, BFSI, Healthcare, Transportation) Geography (Europe, North America, APAC, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Access Control Solutions Market Research Report
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The Access Control Solutions Market encompasses IoT-driven security systems, cloud computing platforms, and IoT sensors to mitigate unauthorized entries and security breaches. Cloud platforms facilitate data analysis and detect security threats, offering granular access control through user credentials, multifactor authentication systems, and multistep verification. Smart home projects, commercial buildings, government facilities, healthcare institutions, and the IT industry benefit from these solutions. Biometric authentication systems, touchless modalities, and smartphone systems enhance security, while mandatory and discretionary access control ensure data protection.
The Access Control Solutions market is a significant segment of the global Communications Equipment Market, encompassing IoT-based security systems and cloud computing platforms. IoT sensors play a crucial role in detecting unauthorized entries and security breaches, which are major concerns in today's digital landscape. Cloud platforms facilitate data analysis, enabling granular access control and enhancing security threats mitigation. User credentials management is essential to ensure secure access to authorized personnel. Technavio, a leading technology research firm, calculates the Communications Equipment Market size based on revenue generated from sales of communication equipment, broadcasting equipment, telecommunication equipment, and investments made by service providers in improving their infrastructure. IoT-driven access control solutions are a key growth area within this market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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