The Physical Access Control market is expected to grow fast in the coming years. According to a report by MarketsandMarkets.com, the coming 5 years will see an annual growth rate of 8.7% of the industry until 2026. The current market stands at $8.6 billion in 2021, and with the predicted growth, it can become a $13.1 billion industry by 2026.
As awareness about home security systems increases, rapid technological breakthroughs in AI and Machine learning alongside the introduction of 5G networks will provide a massive boost to this market.
When COVID-19 started, the demand for access controls systems dipped worldwide. Still, now we are seeing a resurgence in demand due to the rising popularity of contactless access control systems.
Physical Access Control Market Dynamics:
The Driver of Growth:
The biggest driver of growth for this industry is the protection against terrorist and criminal attacks on the data and systems of various organizations. The market has expanded to cover all types of customers. Home security, private organizations, governments and industrial sectors all need Physical Access Control Systems for secure and efficient management of their facilities.
Increased Connectivity is one factor that is a threat to this industry. More and more devices can easily connect to the Internet of Things, and are therefore naturally exposed to more vulnerabilities. And yet, organizations are inclined to use these devices for their flexibility. Getting access to the critical information of organizations and individuals through the latest devices has made this sector highly volatile and can hinder the growth of the access control market.
Biometric technology combined with smartphones has provided an efficient method for Physical Access Control companies to increase their reach. This opportunity will provide better security services to smartphone users and a chance for security control companies to create the best hardware and software.
A significant obstacle in the widespread adoption of the Physical Access Control solutions is the lack of knowledge of organizations, industries and homeowners about the advantages and importance of the latest physical Access Control systems.
The growth predicted in the market will be sparked mainly by the boom in biometric services for various industries. More government institutions, manufacturing plants, and defense facilities look to ramp up biometric verification using fingerprints, irises, faces and voice recognition, etc.
According to the report, as more homeowners come to understand the importance of security for their homes and providing a secure environment for their children and elderly relatives, access control and modern locks will become the fastest growing market sector for the Physical Access Control market.
Physical Access Control Market Players:
The key players in the physical access control market include various companies from various regions. Honeywell International is the technological leader of access control companies in the US. Other region leader include, for example, Assa Abloy from Sweden, Dormakaba Holding from Switzerland, and Johnson Controls and Allegion from Ireland.
Physical Access Control Types:
North America will see the most significant growth in this sector compared to other regions. For the different types of physical security solutions, such as remote monitoring, access control-as-a-service, security systems integration and video surveillance. The latter will be the key trend in the coming years.
The growth in video surveillance solutions in physical access controls will be powered by their high efficiency in monitoring large areas of homes or organizations; it is expected to grow at the rate of 10% by 2027 as video surveillance provides an opportunity for security officials to view the real time situation in the facility.
The latest R&D and innovative solutions are a key trend among the current Physical Access Control service providers. All companies are trying to find the latest methods for providing security and risk mitigation solutions. This will boost the revenue in this market.
Some of the key trends related to the Physical Access Control market include the recognition of cybersecurity as an equally important, if not even more critical, part of the organization’s physical security. Let's explore it further with some other trends to follow in 2022:
The Chief Security Officer and the Chief Information Security Officer used to be two different roles in an organization that had barely any connection with each other in the past. But in the coming years, we will probably see a new position, such as Chief Security Risk Officer, created for managing or communication between these two critical departments. This eye-opening moment has arrived because of the close integration of physical- and cybersecurity, just like the Facebook outage in October 2021 revealed. As engineers and other staff lost physical access to the systems because all access has been linked with cyber access control.
Another trend will be the focus on risk mitigation and management. Instead of focusing on security, future organizations will have to create systems and environments in which the risks can be minimized, to manage and resolve risks faster than ever before.
Data already forms an integral part of most functions of any modern organization, so data will also be crucial for Physical Access Control and risk mitigation. This trend of using risk analysts who can safeguard the cyber and physical security of the organization with the help of real-time analysis of the latest data will increase in the coming year.
Access control will continue evolving in the future as many organizations have already started using smart devices and chips to grant access to employees. This evolution of physical access control will be even faster with the introduction of the latest devices and smartphones.
Keer enables advanced features that solve the market's future needs without requiring new hardware. Keer achieves this using in-house incremental Machine Learning modules, which can identify the following vectors, for example:
Use of another user's card.
Attacks on various hardware components.
The same modules provide the ability to preemptively identify security bugs or weaknesses and automatically solve them.
Another cutting-edge feature for existing high frequency (13.56MHz) readers is providing access using user's mobile phones.
So, to reiterate, all of the abilities mentioned above are acquired entirely using Keer's software, rendering costly purchases and installation of new hardware (such as biometric components) unnecessary.