Access Control Market worth $15.2 billion by 2029

The access control market is projected to grow from USD 10.4 billion in 2024 and is expected to reach USD 15.2 billion by 2029, growing at a CAGR of 7.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. Access control systems provide improved operational efficiency and cost savings as it streamlines access management processes, reducing administrative workload and manual tasks. It also provides enhanced security and minimizes losses from theft or data breaches, leading to cost savings in the long run.

Cards are used as credentials to verify user identity and decide whether to provide access (also the appropriate level of access). Card-based readers are compatible with a variety of door control systems and credentials, including proximity cards, magnetic stripe cards, and smart cards. This flexibility allows for easy integration with existing infrastructure and scalability to accommodate growing needs. Moreover, compared to biometric readers or sophisticated facial recognition systems, card-based readers are significantly cheaper to install and maintain.

In hosted services, the servers holding access control data are placed at third-party locations. A user receives complete control over the access rights without the need to maintain the infrastructure. This ACaaS provides centralized security and management across multiple locations, streamlining security operations and enhancing visibility. The providers also ensure that systems are kept up to date with the latest security patches and firmware updates, improving overall security posture.

Access control provides enhanced visitor management and experience. As it aids in pre-registration and temporary access credentials for visitors to streamline the check-in process and improve security. Integration with visitor management systems allows for centralized tracking and managing visitor activity. Moreover, access control systems manage employee and visitor access to different departments, secure confidential information, and comply with industry regulations.