(South Korea), Salto Systems (Spain), Axis Communications (Sweden), AMAG Technology (US), Pax Technology Ltd. (UK), Castles Technology (Taiwan), DUALi Inc. Other players operating in the access control reader market are Peter Hengstler Gmbh+Co. A few of the major strategies adopted by these players to compete in the market include product launches and developments, partnerships, and mergers and acquisitions. (Netherlands), NAPCO Security Technologies, Inc. The access control reader market is currently dominated by ASSA ABLOY AB (Sweden), dormakaba Holding AG (Switzerland), Allegion plc (Ireland), Identiv, Inc. Rising adoption of access control readers in small- and medium-sized enterprises, hospitality businesses, airports, ATMs, banks, residential buildings, and religious places is expected to drive the access control reader market in APAC. Furthermore, emerging economies are working toward improving their infrastructure, which is expected to impel the growth of the market. Factors driving the growth of the market in this region include large population, heavy investments in digitalization, rapid industrialization, and high demand for security systems. The access control reader market in APAC is expected to grow at the highest CAGR during the forecast period. “Market in APAC expected to grow significantly during forecast period” These factors are encouraging commercial and service organizations to adopt access control readers to protect people and property.
The demand for access control systems is increasing since they reduce the need for manned security significantly, thereby reducing security expenditure. These places require access control readers for protecting people and assets by preventing unauthorized access. In this vertical, commercial premises such as enterprises and data centers, banks and financial centers, hotels, retail stores and malls, and entertainment areas have been considered. The commercial vertical is the largest adopter of access control readers. “Growing need for security solutions holds largest market share for commercial vertical in access control reader market”
Stanley global technologies cac card reader drivers#
The increasing demand for smart and proximity cards to monitor and record employee activities is one of the drivers for the growth of smart card readers. Smartcards are proven to be more reliable than magnetic stripes and proximity cards. The increasing demand for smart and proximity cards to monitor and record employee activities is one of the major drivers for the growth of card-based readers. Card-based readers are proven to be more reliable than biometric readers and electronic locks. “Card-based readers to hold largest share of access control reader market during forecast period”Ĭard-based readers can be magnetic stripe, proximity, or smart card readers. Increasing urbanization in emerging economics provides major opportunities for the growth of the access control reader market. The growth of this market is mainly driven by the high demand for enhanced security contactless interfaces to boost adoption of smart cards and increased convenience, enhanced security identity management, and improved human resource management. The overall access control reader market is expected to grow from USD 3.0 billion in 2019 to USD 5.4 billion by 2024, at a CAGR of 12.5%.
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