The EMEA access control market was valued at US$ 2,849.4 million in 2019 and is projected to reach US$ 8,327.5 million by 2027; it is expected to grow at a CAGR of 14.0% from 2020 to 2027.
Presently, the access control solutions are increasingly being integrated for including other services and systems. Further, increase in building automation and smart homes is opportunistic for the market. Several companies, including Gemalto, Suprema Inc., and ATOS, are expanding and exploring ways for authenticating an individual using biometric-related information. Several hardware and software providers are teaming up to offer enhanced access control systems. For instance, Suprema Inc. formed new facility with the launch of Suprema Europe SARL to expand their presence and customer reach in the France market. Also, Allegion Middle East introduced their comprehensive portfolio of access control product to the UAE and across the Middle East countries. Further, Vanderbilt and 6SS formed partnership in the Middle East & Africa region to provide training and strengthen their product offering for market with high-quality certification.
Moreover, several players are investing into innovation, research and development activities. Recently, dormakaba Group introduced new Keyscan Aurora 1.0.21 access-control management software to manage the flow and security efficiently through a building. Further, rise in number of SMEs adopting security systems has created growth avenues, especially in the developing economies of the world. Also, growing demand for the cloud technology in businesses, owing to remote working and enormous data management, is augmenting the market growth. For instance, Atos introduced Evidian?a cloud-based Identity-as-a-Service?for the enterprises to securely govern digital identities with a subscription-based pricing model.
Honeywell Security Group; Siemens Building Technologies; ASSA ABLOY AB; ATG Access Ltd; Johnson Controls International plc; AMAG Technology, Inc.; Schneider Electric SE; Gallagher Group Ltd.; and Identiv, Inc. are among the key EMEA access control market players profiled in this research study.
Impact of COVID-19 Pandemic on EMEA Access Control Market
The COVID-19 outbreak, which began in Wuhan, China, in December 2019, has spread across the globe. It has badly affected China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US in terms of confirmed positive cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the EMEA access control market due to factory shutdowns, disrupted supply chain, and downturned global economy.
Overall size of the EMEA access control market has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the access control market.