- 3 Out of 5 Physical Access Control Systems Sold to be Keypad & Card - Based PACS
- The physical access control system (PACS) market survey offers compelling insights into key factors impacting growth across various segments in terms of solution, technology, sector, and region. The report also includes information on various strategies adopted by top players operating in the global market.
NEW YORK, Nov. 17, 2021 /PRNewswire/ -- The global physical access control system (PACS) market is expected to register 10% year-on-year growth, to total 2.2. Mn units in 2021. As per Fact.MR, the demand for biometric PACS is expected to grow by 9%, reaching 850,000 units in 2021.
The physical access control system market will occupy 45% of global access control system (ACS), with sales of ACS reaching US$ 15.3 Bn in 2021. As per the study, nearly 45% of employees across offices have determined access control systems to be pivotal for smart lock and digital security.
The study also states that more than half of organizations have shifted their preference to physical access control systems in 2019. These businesses are likely to upgrade to mobile access control systems over the next three years, steered by ongoing technological advancements.
Due to the increasing need for perimeter security among government and national security bodies, the demand for physical access control through facial recognition is expected to surge. For instance, The Department of Homeland Security's Customs and Border Protection of the U.S. claimed that around 40 million candidates have been screened at cruise ships, border crossings, and other places in the last year.
Access control systems also have helped in restricting around 250 people from using fake passports for border crossing. Rising focus on homeland security, besides unlimited benefits of physical access control systems, which include keeping track of entry and exit of members of any organization, will enable exponential growth of the market in the coming years.
On account of this, the global physical access control system is expected to reach a valuation of US$ 12.7 Bn, expanding at 10% CAGR during the forecast period of 2021 to 2031.
"As the global physical access control system (PACS) market is highly dependent on technological advancements, players are integrating cutting-edge technologies such as robotics and automations to keep up with evolving needs of various industries. Hence, key players are investing heavily in research activities to develop advanced security systems. This will allow the market to register growth at high rate in the coming years," says the Fact.MR analyst.
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Key Takeaways
- The U.S. PACS market is expected to register growth at 9.5% CAGR, reaching US$ 3.5 Bn through 2031 on the back of increasing demand from high-tech IT companies and residential sector.
- Canada PACS market is expected to surpass US$ 165 Mn with rising application in ICT sector.
- The U.K market is expected to reach a valuation of US$ 835 Mn through 2031 in response to advancements in digital technology and IT sector.
- In terms of technology, biometric PACS segment is likely to dominate the market, with a CAGR of 10.5% during assessment period.
Growth Drivers
- Increasing adoption across BFSI, healthcare, and manufacturing industries will guarantee growth of the market.
- Surging application of physical access control systems such as keypad based PACS and biometrics in retail and corporate sector will drive growth.
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Competitive Landscape
Players operating in the global physical access control system (PACS) market are offering tailored solutions as per specific needs of end users. Manufacturers are therefore increasingly investing in research and development (R&D) activities to develop advanced access control systems in-built with advanced technologies. Besides this, some are aiming at strategic partnerships to gain competitive edge in the market.
For instance,
- In August 2021, ASSA ABLOY announced the acquisition of Omni-ID, a leading manufacturer of RFID tags and industrial Internet of Things (IoT) devices for active tagging, tracking, and monitoring applications.
- Brivo and Altronix formed a strategic partnership in July 2021to expand Brivo's hardware ecosystem.
Some of the key players operating in the global physical access control system (PACS) market profiled by Fact.MR are:
- Assa Abloy
- Johnson Controls
- Honeywell International
- Allegion
- Avigilon
- Axis Communication
- Bosch
- Paxton
More Insights on the Physical Access Control System (PACS) Market
Fact.MR provides an unbiased analysis of the physical access control system (PACS) market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021 to 2031. The report provides in-depth analysis of the mentioned segments:
Solution
- Hardware
- Software
- Services
Technology
- Keypad-based Physical Access Control Systems
- Card-based Physical Access Control Systems
- Biometric-based Physical Access Control Systems
- Fingerprint Recognition
- Face Recognition
- Voice Recognition
- Palm Recognition
- Iris Recognition
Sector
- BFSI
- Healthcare
- Manufacturing
- Services, Communication, and Media
- Retail & Other Corporate
- Transportation & Utilities
- Institutions
- Residential
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key questions Covered in the Physical Access Control System (PACS) Market Report
- The report offers detailed insights into physical access control system (PACS) demand outlook for 2021-2031
- The market study also highlights projected sales growth for physical access control system (PACS) market between 2021 and 2031
- Physical access control system (PACS) market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
- Physical access control system (PACS) market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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