Published by mark itwired
Posted on September 17, 2021
7 min readLast updated: February 5, 2026
The access control market is set to surpass $15 billion in 2021, with fingerprint scanners leading the demand. Digitalization and cybersecurity concerns drive growth.
The global access control market value is expected to surpass US$ 15 billion by 2021. According to a study by FMI, the market for access control is likely to reach a valuation of US$ 50.4 billion through 2031, growing at a CAGR of 12.6% during the forecast period 2021-2031 in comparison to CAGR 8.1% registered between 2016 and 2020.
The emergence of digitalization and cloud-based computing across the globe is driving the market. With increasing adoption of these cloud-based technologies, the risk of cybercrime, digital fraud, and potential information leaks also has increased, making the use of access control systems indispensable in various industry verticals. This is expected to create lucrative sales opportunities in the market.
Surging need for integrated access control solutions to create a safe working environment is spurring the demand. It also enabled the market to register year-on-year growth of 10.8% in 2021. In response to the increasing risk of data and security theft, IT companies are increasingly installing access control systems to record employee entry and exit timings.
The technology also helps to prevent unsolicited entry in campus and minimize the risk of data breaches. Thus, the IT & telecom sector is expected to contribute a revenue share of around 23% by 2021, as per FMI.
Fingerprint scanner is dominating the hardware access control component segment. Favored by the extensive use of these scanners in smartphones and laptops to eliminate the need for passwords and login IDs, the fingerprint access control system is anticipated to account for more than 35% of the market share in 2021.
“Key players in the access control market are investing in research and development (R&D) activities and collaborating with other companies to develop industry-specific solutions,” says the FMI analyst.
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Key Takeaways from Access Control Market Survey
Key Drivers
Key Restraints
Discover more about the access control analysis with figures and data tables, along with the table of contents. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13363
Competitive Landscape
Manufacturers operating in the access control market are emphasizing on optimizing their existing product and service portfolio. Some of the market players are focusing on receive approval for their product to expand their market share, For instance.
Some of the key players operating in the market profiled by FMI are:
More Valuable Insights on Access Control Market
FMI, in its new report, offers an unbiased analysis of the global access control market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in access control market with detailed segmentation:
By Component:
By System Type:
By Industry:
By Region:
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Key Questions Covered in the Report
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The post Fingerprint Scanners to Remain Top-selling, Accounting for Over One-third of Access Control Demand in 2021: Future Market Insights first appeared on Market Research Blog.
The article discusses the growth of the access control market, focusing on fingerprint scanners.
Digitalization and increased cybersecurity concerns are key drivers of market growth.
The market is expected to reach $50.4 billion by 2031, growing at a CAGR of 12.6%.
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