Industrial Access Control Market

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MarketsandMarkets Presents
Industrial Access Control Market worth 1,317.9
Million USD by 2023 According to the new market
research report "Industrial Access Control Market
by Component (Hardware (Card-Based Readers,
Biometrics Readers, Electronic Locks, and
Controller/Server), and Software), Service
(Installation, Maintenance, and ACaaS),
Application, and Geography - Global Forecast to
2023", is expected to be worth USD 1,317.9
Million by 2023, at a CAGR of 8.33 between 2017
and 2023.
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The major driver for the growth of the industrial
access control market is the high adoption of
access control solutions due to growing security
concerns in industrial applications globally. The
overall industrial access control market is
driven by factors such as technological
advancements and deployment of wireless
technology in security systems, and adoption of
access control as a service (ACaaS). Electronic
locks expected to drive the growth of the
industrial access control market The market for
electronic locks is expected to grow at the
highest CAGR between 2017 and 2023. This is
primarily due to reduced cost, increased
convenience of not carrying any separate
credential such as cards or key fobs. It also
enables the users to monitor and operate remotely
and transfer the credential over the mobile
phones. These additional features are driving
electronic locks for the industrial access
control market. Key players in the ecosystem of
the industrial access control market profiled in
this report are ASSA ABLOY AB (Sweden), Johnson
Controls International PLC (Ireland), dormakaba
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). Download PDF Brochure http//www.markets
andmarkets.com/pdfdownload.asp?id185206656
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Utilities application is expected to grow at the
highest rate between 2017 and 2023 Utilities
application is the largest application driving
the growth of industrial access control market
for avoiding security threats. Security solutions
are a vital part of every industrial area setup
and thus are expected to grow at a high rate
during the forecast period. 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. Asia Pacific to witness
the highest growth between 2017 and 2023 The
industrial access control market in Asia Pacific
(APAC) is expected to grow at the highest CAGR
between 2017 and 2023. The reason for this growth
is the huge population base, rapid
industrialization, and increasing focus on
security threats in this region. In APAC, the
industrial access control market is mainly driven
by China, Japan, and India because of the rapid
pace of industrialization in these countries.
Therefore, the industrial access control market
in APAC is expected to witness rapid growth
between 2017 and 2023. Report Details
http//www.marketsandmarkets.com/Market-Reports/i
ndustrial-access-control-market-185206656.html
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