The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rising adoption of electronic security systems such as biometrics are expected to drive innovation in physical access control system manufacturing, thus driving the market during the forecast period.

The global physical access control system market is expected to grow from $8.42 billion in 2022 to $9.48 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The physical access control system market size is expected to grow to $15.2 billion in 2027 at a CAGR of 12.5%.

Get A Free Sample On The Global Physical Access Control System Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7830&type=smp

Global Physical Access Control System Market Segments Include:

• By Component:Hardware, Software, Services
• By Technology:Keypads-based PACs, Card-based PACs, Biometric PACs
• By End User:Banking, Financial Services and Insurance (BFSI), Healthcare, Manufacturing, Services, Communication and Media, Retail and Other Corporate, Transportation and Utilities, Other End Users
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global physical access control system market in 2021.

Major Market Players in the physical access control system market include Honeywell Commercial Security, Bosch Security and Safety Systems, Safran Security, Assa Abloy AB, Tyco, Axis Communications, Allegion plc Ltd.

Technological Advancements are a key trend gaining popularity in the physical access control system market. Major companies operating in the physical access control system market are focused on developing new technological solutions to strengthen their position. For instance, in February 2020, Openpath Security Inc., a US-based access control and security automation company, launched digital badging capabilities. These capabilities reimagined credential with Custom Designs that has two-way communication and enterprise-grade security capabilities to bridge the physical and digital security gaps. It also allows users to match their physical ID badge and photo to a digital credential to enhance the security process.

The Physical Access Control System Global Market Report 2023 provides a physical access control system market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The physical access control system market forecast analyzes physical access control system market size, physical access control system market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Physical access control systems are electronic systems and services that limit the ability of individuals or vehicles to enter a protected area by authenticating and authorising them at access control points. It allows employees and contractors who work or visit a location to gain access by electronically confirming their PIV credentials.

Explore Similar Reports From The Business Research Company:  

Physical, Engineering, And Life Sciences Global Market Report 2023

Physical Vapor Deposition Global Market Report 2023

Controlled Release Fertilizer Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/ 
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company 
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model 

Found this article helpful? Share it on: