Global Access Control Reader Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Access Control Reader is a device that is used for identifying users by verifying various login credentials. This device prevents the entry or exit of an unauthorized person from a specified region by reading login credentials such as usernames and passwords, biometric scans, security tokens, and PINs. The growing demand for smart cards, increasing incidences of cyber and malware attacks, and other frauds, coupled with the rapid digitalization and industrialization are the prominent factors soaring the market demand across the globe. For instance, according to Statista, in 2020, the expenditure on digital transformation technologies and services around the world accounted for around USD 1.31 trillion and the amount is anticipated to reach nearly USD 2.8 trillion by 2025. Thereby, rising expenditure on digital technologies is fueling the demand for Access Control Reader, which, in turn, excel the global market growth. However, several security concerns associated with unauthorized access and data breaches and a lack of awareness about advanced security solutions among users impede the growth of the market over the forecast period of 2022-2028. Also, flourishing demand for enhanced security and increasing urbanization in emerging economies are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Access Control Reader Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the region being the early adopter of novel technologies and the presence of various prominent market players. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the heavy investments in digitalization, and high demand for security systems, would create lucrative growth prospects for the Access Control Reader Market across the Asia-Pacific region.
Major market players included in this report are:
Peter Hengstler Gmbh+Co.
Paxtron Access Ltd.
Pax Technology Ltd.
Advanced Card Systems Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Smart Card Technology Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Access Control Reader Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers