Authentication refers to any process through which a system makes verification of the identity of a user wishing to gain access to the system. Based on the identity of the user requesting to gain access, the system operates and thus it is crucial to any organization. Authentication of the user is done through the credentials of the user, which comprises password and user ID, at least.
Access control refers to a security technique that controls what and who can utilize and see resources in a computing environment. It is a rudimentary idea in security that reduces the risk of an organization or a business. There are two different types of access control, i.e. logical and physical. Physical access control restricts access to physical IT assets, buildings, campuses, and rooms. Logical access control restricts connections to data, system files, and computer networks.
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Some prominent companies that have been mentioned in the report on global access control and authentication market are Panasonic Corporation, Axis Communications AB, Robert Bosch GmbH, Canon Inc., Honeywell Group, and Pelco Incorporated.
Transparency Market Research (TMR) has come up with an all-inclusive study on the global access control and authentication market, for the period 2014 to 2024. The report estimates that the global access control and authentication market is prophesized to rise at a robust rate of 15.3% CAGR. The market is likely to touch a valuation of US$ 49,890.3 million through 2024.
Asia Pacific to Retain its Dominance throughout the Period of Assessment, from 2014 to 2024
The global access control and authentication market in Asia Pacific is likely to rise at a rapid growth rate over the period of assessment, from 2014 to 2024. High demand for security systems and growing industrialization are prophesized to propel the growth of the global access control and authentication market in years to come.
Furthermore, augmented threats of terror and crime rates in Asia Pacific together with low police to population ratio is likely to support the growth of the global access control and authentication market over the period of review. Increased government spending to mitigate these threats is likely to support the growth of the market.
Revival of Various Projects to Stoke up its Demand in the Market
The growing need for security and safety across the globe is likely to foster the growth of the global access control and authentication market over the period of review, from 2014 to 2024. The system is designed to prevent encroachment on any information or property, track objects and people, and to regulate access is likely to influence growth of the global access control and authentication market. These systems are mostly responsible for providing selective and limited access to a property or information.
These are the controlling tools and are utilized in the prevention and investigation of crimes particularly in public places like banks, multiplexes, casinos, airports, and ATMs. Major end use industries comprise logistics, public sector, manufacturing, transportation, banking and financial services, retail, hospitality, and many others. Increased demand from so many end use industries is forecasted to fuel the expansion of the global access control and authentication market.
In addition, the revival of various commercial projects across several fields such as residential, commercial, and defense sectors are prophesized to influence the expansion of the global access control and authentication market. Introduction of Visa card, MasterCard, and various Government ID programs have substantially bolstered the demand for access control and authentication systems. An emerging trend of logical and physical access control solutions is expected to characterize the global access control and authentication market. Furthermore, increased use of mobility-based solutions is likely to support the growth of the market in years to come
The information shared in this review is based on a TMR report, bearing the title, “Access control and authentication market (Product – Electronic Access Control, Automatic Number Plate Recognition (ANPR), and Document Readers; End-use Industry – Transportation and Logistics, Government and Public Sector, Utilities/Energy Markets, Industrial, Retail, Business Organizations, Hospitality and Casinos, Healthcare Facilities, and Educational Institutions) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2024.”
The global access control and authentication market is segmented based on:
Product
- Electronic Access Control
- Automatic Number Plate Recognition (ANPR)
- Document Readers
End-use Industry
- Transportation and Logistics
- Government and Public Sector
- Utilities/Energy Markets
- Industrial
- Retail
- Business Organizations
- Hospitality and Casinos
- Healthcare Facilities
- Educational Institutions
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