Global Access Control Market Expected to reach USD$ 8.5 Billion By 2022

Date: 2016-09-18

The global Access Control market is expected to grow from $ 5.92 billion in 2015 and to $ 8.5 billion by 2020, at a CAGR of 7.49% from 2016 to 2020. This growth can be attributed to the increased security threats across the world, growing urbanization, and technological developments in the access control market.

In the fields of access control is the selective restriction of access to a place or other resource. The act of accessing may mean consuming, entering, or using. Permission to access a resource is called authorization. Locks and login credentials are two analogous mechanisms of access control.

The estimation of the access control market was done by top-down and bottom-up method. In the bottom-up approach, the number of components goes in each type of application is calculated, which is further multiplied by various application products for all major countries and finally the volume is multiplied by the average selling price of each component to arrive the overall market size. In top-down approach, the top companies in the market are analyzed and their product portfolio is studied to verify the global and regional access control market arrived by the bottom-up approach.

North America is expected to hold the largest share of the total access control market in 2016. The stable construction market in North America and technological developments are driving the North American market. In addition, the consumers are shifting toward digital, interconnected environment which also drives the North American access control market.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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