Aircraft Seals Market Analysis, Market Size, Industry Trends, Share Estimation, And Forecast To 2033 | Parker Hannifin Corporation, Meggitt PLC, Trelleborg Sealing Solutions, Saint Gobain S.A., Eaton Corporation

The Access Control by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Access Control, The access control market size has grown rapidly in recent years. It will grow from $12.41 billion in 2023 to $13.7 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increased use of mobile access control systems and government investments to prevent increasing number of cyber-attacks.

The access control market size is expected to see rapid growth in the next few years. It will grow to $22.14 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to increasing smart homes, increasing adoption of access control by the hospitality sector, and rise in data security breaches. Major trends in the forecast period include focus on launching cloud-based access control systems for their market growth, introducing mobile-based access control solutions to sustain their position in the market, consider working with hotel partners to bring guest keys to digital wallets for easier access and to provide ai facial recognition, focus on launching biometric access control systems to improve their product offerings, and focus on launching innovative products in the access control market to strengthen their product portfolio.

The access control market is expected to be supported by rapid growth in smart homes in the forecast period. A smart home is a residence that uses internet-connected devices to enable the remote monitoring and management of appliances and systems. Access control provides both home security and home automation. Increasing smart homes is driving the need for connected access control systems for homes that can be accessed remotely. For instance, according to CITyFiED, a Spain-based project funded by the European Union’s Seventh Program, the number of smart homes in Europe is expected to reach 84 million by 2022, with Germany, the UK and France pushing the market forward. For instance, the smart home penetration rate in the UK is expected to reach 63% by 2025. Therefore, increasing smart homes is expected to act as a driver for the access control market.

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The access control market covered in this report is segmented –
1) Access Control Market By Type: Card Based, Biometric Based
2) Access Control Market By Vertical: Commercial, Military And Défense, Government, Residential, Education, Healthcare And Others, Manufacturing And Industrial, Transportation, Hospitality
3) Access Control Market By Deployment Model: Cloud, On-Premises

Top Major players

Parker Hannifin Corporation

Meggitt PLC

Trelleborg Sealing Solutions

Saint Gobain S.A.

Eaton Corporation

Cloud-based access control is gaining popularity in the access control market. Cloud-based access control systems are cost-effective and offer various advantages, including easy access to data, real-time analytics, integration with other systems and software, sharing of data internally and externally, scalability and flexibility. Major players in the market are focusing on launching cloud-based access control systems for their market growth. For example, in September 2021, Active Witness, a Canada-based cloud-based access control manufacturer, launched SIMA, a cloud-based access control system that combines facial recognition with a QR code (quick response code) which is sent to the user’s mobile device. It processes access requests using Active Witness’ cloud-based software and the company’s app, available for iOS and Android.

The access control market report table of contents includes:

1. Executive Summary

2. Access Control Market Characteristics

3. Access Control Market Trends And Strategies

4. Access Control Market – Macro Economic Scenario

5. Global Access Control Market Size and Growth

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32. Global Access Control Market Competitive Benchmarking

33. Global Access Control Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Access Control Market

35. Access Control Market Future Outlook and Potential Analysis

36. Appendix