250 Pages Physical Access Control System (PACS) Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable market insights of Physical Access Control System (PACS). The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Physical Access Control System (PACS) Market across various industries and regions.
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Newly-released physical access control system (PACS) industry analysis shows that global demand enjoyed year-on-year (YoY) growth of over 10% in 2021, to total 2.2 Mn units. Demand for biometric PACS is poised to grow 9% to total 850 ‘000 units, while demand for card-based PACS will be up 12.5% to 960 ‘000 units in 2021.
|Market Size Value in 2020||US$ 6.7 Bn|
|Market Forecast for 2031||US$ 19.6 Bn|
|Global Growth Rate (2021 to 2031)||10.3%|
|Share of Top 5 Companies||60%|
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Physical Access Control System (PACS) market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Physical Access Control System (PACS)
This newly published and insightful report sheds light on Market Insights of Physical Access Control System (PACS), key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Physical Access Control System (PACS) Market.
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Main Segments Covered in Physical Access Control System Industry Survey
- Keypad-based Physical Access Control Systems
- Card-based Physical Access Control Systems
- Biometric-based Physical Access Control Systems
- Fingerprint Recognition
- Face Recognition
- Voice Recognition
- Palm Recognition
- Iris Recognition
- Services, Communication, and Media
- Retail & Other Corporate
- Transportation & Utilities
According to this market research analysis, Honeywell Security, Allegion, Dormakaba Holdings, BOSCH, Johnson Controls International Plc, Paxton Access, Avigilon Corporation (Motorola Solutions), Axis Communications, Assa Abloy, Brivo Systems LLC, Aiphone Co. Ltd., 3M Cogent Incorporation (Gemalto Cogent, Inc), Acc-Time System Inc., Iris Id, Inc, Cross Match Technology Inc., Lumidigm, Inc (Hid Global Corporation), NEC Corporation, Secugen Corporation, and Zvetco Biometrics LLC are identified as key players providing physical access control systems.
Key Takeaways from Market Study
- Residential end use of physical access control systems is expected to remain the most dominant and likely to witness an absolute dollar opportunity of US$ 3.2 Bn during 2021 – 2031.
- Sales of physical access control system hardware is expected to expand at a substantial CAGR of 10% over the forecast period.
- On the basis of sector, demand from institutions is expected to grow 3.2X, while that from services and communication & media is expected increase 2.4X by 2031.
- Keypad-based and card-based PACS will collectively account for close to 60% revenue share in 2021, and remaining the 2/5 of the market will be capture by biometric PACS.
- North America and Europe together are set to account for close to 45% market share by value by 2031.
- The South Asia & Oceania market is expected to gain 166 BPS and become a market frontrunner to be valued at US$ 3.5 Bn by 2031.
“High adoption of PACS from services, communication, and media sectors is expected to create consistency in demand over the coming years,” says a Fact.MR analyst.
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More Valuable Insights on Physical Access Control System (PACS) Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Physical Access Control System (PACS), Sales and Demand of Physical Access Control System (PACS), analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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