Access Control is a security feature that regulates & controls communications between users and systems. It restricts the entry of unauthorized individuals into restricted areas to protect people and assets. The overall Access Control Solutions market is expected to grow from USD 6.94 billion in 2017 to USD 12.12 billion by 2024, at a CAGR of 8.24% during the forecast period. The growth of the access control solutions market is driven by various factors, such as increasing crime rates globally, technological advancements, the deployment of wireless technology in security systems, and the adoption of IoT-based security systems with cloud computing platforms. Best access control systems provide secure access to physical resources by validating user credentials.
In 2017, the access control solutions market was dominated by Assa Abloy AB (Sweden), Johnson Controls International Plc (Ireland), Dormakaba Holding AG (Switzerland), Allegion Plc (Ireland), Honeywell Security Group (US), Identiv (US), Nedap NV (Netherlands), Suprema HQ Inc (South Korea), and Bosch Security Systems (US).
Assa Abloy (Sweden) is a leading provider of digital and mobile security solutions. The company’s wide product range of access control systems provides it with a competitive advantage over other players. In addition, it focuses on market presence, product leadership, and cost efficiency to grow in the market. The company focuses on strengthening its market presence by expanding into emerging markets; this has enabled its sales to grow from 10% in 2006 to 28% in 2016. It strengthens its market presence by acquiring companies. The group’s acquisitions are focused on increasing its geographical presence, complementing its existing product range, and adding new technologies in key areas. The company intends to grow organically through product innovation and development and by broadening its product portfolio. The company’s R&D investments in product development have increased by 90% over the last five years.
Dormakaba Holding AG (Switzerland) is one of the leading companies in the global security and access solutions market. It provides premise access products, solutions, and services. The company has strong distribution channels and sales networks in all industries, which will accelerate global expansion through a strengthened presence in Europe, the Americas, and Asia Pacific. The company focuses on mergers &acquisitions to expand its business and strengthen its product portfolio. For instance, in 2016, two strategic acquisitions from Black & Decker, Inc. (US) and Mesker Openings Group (US) took place, which enhanced the company’s market foothold in North America and global standing within the security &access control industry.
Johnson Controls International Plc (Ireland) offers a wide range of fire & security products and installation &maintenance services. The company generates the majority of its revenue from installations &maintenance services and offers premium access control, video, and location-based tracking to customers in more than 150 countries. Its commitment towards quality and consistent improvement in products makes it one of the leading providers of security solutions. The company focuses on maintaining a multi-segment business platform to enhance the predictability and sustainability of its earnings and growth.