Access control technology. According to a new annual report, overall sales of access control products declined in the year 2020 to a total of $7.9 billion. On the plus side, further reports are forecasting that by the year 2025, the world market will likely end up being worth $10.25 billion. Furthermore, the performance of the access control business itself was also charted during the last ten years, in which overall demand was witnessed for products and expanded by approximately 8.2%, reaching sales of around $8.7 billion at the beginning of 2020.
However, analysts note that sizing the market is a task that has become a major issue in terms of confidence in 2020 thanks in large part to the COVID-19 pandemic and the fact that the virus still has yet to be controlled in multiple countries around the world, mainly because there are areas in which the virus is mutating into a second or third spike in infections, thereby resulting in more lockdowns.
Access control technology – Despite the pandemic, throughout the year 2020, access control is something that has considered to have played a major role in helping with maintaining social distancing, as it has provided information with staff and visitor locations in terms of occupancy management thresholds. Furthermore, vendors are also now seeking to take things even further by providing assistance with wellness verification and contact tracing.
Access control technology – It’s also expected that demand will be driven by growth over the next five years in IP networking products, as well as access control as a service, integration with identity management, and biometric readers as well. Furthermore, integration with other types of physical security systems is another factor that is becoming a more established part of the business itself, which is helping to generate even more growth as well.
End users who are also involved with the market in order to help with replacing older-aged systems are said to be looking at access control as a service as an acceptable option. As part of the current economic climate, analysts are making the suggestion that perhaps a recurring fee for a type of managed access control service could be a more viable option as opposed to a larger-sized upfront capital expenditure.
According to further research, access control is considered to still be a much smaller business than video surveillance, thereby resulting in it being a lot less competitive; however, by consolidating through acquisition, this has led to a more significant feature over the past five years, creating a much stronger and competitive environment. Furthermore, it has been determined that this has resulted in the confidence to push forward and accept the challenge of embracing technologies that are brand new and that will also bring about better products that are necessary in order to help with further increasing demand. The industry itself has been rather reluctant to adopt any open standards; however, in the past couple of years, there have been signs that at least some suppliers have been taking a more open approach to their development of both hardware and software.