“Industrial access control market to grow at a CAGR of 8.33% between 2017 and 2023”
The industrial access control market is expected to reach USD 1,317.9 million by 2023, at a CAGR of 8.33% between 2017 and 2023. The major reasons for the growth of the industrial access control is the high adoption of access control solutions due to growing security concerns, technological advancements and deployment of wireless technology in security systems, and adoption of Internet of Things (IoT)-based security systems. Lack of awareness for advanced security solutions in industrial applications is a major restraining factor for the growth of the industrial access control market.
“Utilities application drives the industrial access control market; it held the largest market share in 2016”
Utilities application is the largest application driving the growth of industrial access control market for security purposes. Protecting the infrastructure and assets from threats such as accidents, vandalism, theft, sabotage, and terrorism is the major concern for utilities application. These security issues increase the demand for access control systems and solutions for this application. These factors are expected to propel the growth of the industrial access control market for utilities application.
“Asia Pacific is expected to be the fastest-growing market”
This report covers the industrial access control market in North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The industrial access control market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The huge population base, increasing investments for digitalization, a large number of research and development (R&D) activities, and increasing focus on industrial applications are some of the important factors that have contributed to the growth of the industrial access control market in this region.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 = 35%, Tier 2 = 30%, and Tier 3 = 35%
- By Designation: C-Level Executives = 40%, Directors = 35%, and Others = 25%
- By Region: North America = 25%, Europe = 35%, APAC = 35%, and RoW = 5%
The key players in the industrial access control market profiled in this report are ASSA ABLOY AB (Sweden), Johnson Controls International PLC (Ireland), dorma+kaba Holding AG (Switzerland), Allegion plc (Ireland), Honeywell Security Group (US), NEC Corporation(Japan), Bosch Security Systems Inc. (Germany), Identiv, Inc. (US), Siemens Building Technologies (Switzerland), and 3M Company (US).
The report provides a clear analysis of industrial access control and its usages across different applications, components, services, and regions. This report aims to estimate the market size and future growth potential of this market across the above segments. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report:
- This report includes market statistics pertaining to components, along with its respective market volumes.
- Major drivers, restraints, challenges, and opportunities for the growth of the industrial access control market have been offered in this report.
- Illustrative segmentation, analysis, and forecast by component, service, application, and geography have been conducted to provide an overall view of the industrial access control market.
- This report will help stakeholders better understand their competitors and gain insights on ways to improve their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, and mergers and acquisitions.