Access Control and Authentication Market Set to Soar Past USD 3.35 Billion by 2030 | Skyquest Technology
The access control and authentication market is set to witness substantial growth from 2023 to 2030. The market’s components include hardware, software, and services, while technology options span biometrics, smart cards, electronic doors, locks, and magnetic strips. Enterprises of all sizes, including small and medium, will adopt these solutions, with various access control modes offered through hosted, managed, and hybrid services. This industry finds applications across residential, government, BFSI, healthcare, and more, embracing a technological evolution that secures diverse sectors.
Westford USA, Aug. 25, 2023 (GLOBE NEWSWIRE) — The global Access Control and Authentication market size is expected to reach USD 37.2 billion by 2030 and exhibit a CAGR of 11.4% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing concerns about data security and privacy, rising instances of cyberattacks and unauthorized access, growing adoption of digital transformation and cloud technologies, stringent regulatory compliance requirements, need for multi-factor authentication for enhanced security, expanding internet of things (IoT) ecosystem, demand for seamless user experience and convenience, proliferation of mobile devices and remote work, integration of biometric technologies for accurate identification, and the shift towards smart homes and connected environments are fueling the market’s growth.
According to SkyQuest’s latest global research of the Access Control And Authentication market, increasing adoption of biometric authentication methods, growth of zero-trust security frameworks, integration of artificial intelligence and machine learning for behavior-based authentication, rise of passwordless authentication solutions, implementation of blockchain for enhanced data security, expansion of access control beyond physical spaces to encompass digital assets and applications, convergence of access control with identity and risk management, proliferation of mobile-based authentication methods, focus on user-centric design for improved user experience, and the emergence of contextual and adaptive authentication approaches are the trends that aid in the market’s growth.
Browse in-depth TOC on “Access Control And Authentication Market”
- Pages – 157
- Tables – 152
- Figures -78
Access Control And Authentication (SHM) is a field of engineering that uses sensors to monitor the health of structures over time. This information can be used to identify and predict damage and to take steps to prevent failures.
Prominent Players in Access Control And Authentication Market
- Applied Acoustics
- Bridge Diagnostics
- Cirrus Research
- International SOS
- Sensit Technologies
- Vibrating Systems and Controls
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Report Scope & Segmentation:
| Forecast Period
| Market Size in 2022
| 2030 Value Projection
| Segments Covered
Hardware, Software, Services
Biometrics, Smart Card, Electronic Doors & Locks, Magnetic Strips
Small & Medium, Large
Residential, Government & Defence, BFSI, IT & Telecom, Retail & E-commerce, Healthcare, Travel, Tourism, Manufacturing, Education, others
| Regions Covered
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Biometric Authentication Demand to Grow Substantially in the Forecast Period
Biometric Authentication dominated the global online market as it involves using unique physical or behavioral characteristics for verification, was gaining prominence. Biometrics offer a high level of security as they are difficult to replicate, providing strong user identity verification. Technologies like fingerprint recognition, facial recognition, and iris scanning were being integrated into various devices and applications. The convenience and security offered by biometric methods were driving their adoption, especially in applications where security is paramount.
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Enterprises (BFSI, Healthcare, Retail, etc.) are the Leading Application Segment
In terms of application, Enterprises (BFSI, Healthcare, Retail, etc.) are the leading segment as they handle sensitive customer data and financial information, making robust access control and authentication solutions crucial for data protection and compliance with regulations like GDPR. The growing number of data breaches and cyberattacks underscored the need for strong authentication methods to safeguard sensitive information.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a strong technology infrastructure and a high level of digitalization across industries. Stringent data protection regulations such as the Health Insurance Portability and Accountability Act (HIPAA) and the California Consumer Privacy Act (CCPA) have driven the adoption of robust access control and authentication solutions in sectors like healthcare and tech companies. Additionally, the rise in cyber threats and data breaches has led North American enterprises to invest in advanced security measures, further driving the market.
A recent report thoroughly analyzes the major players operating within the Access Control And Authentication market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Access Control And Authentication.
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Key Developments in Access Control And Authentication Market
- Intercede stated that it acquired Authlogics, a maker of software for managing password security and multi-factor authentication. With the acquisition, Intercede is now able to cover the entire “authentication pyramid,” from passwords to public key infrastructure, in its product offering. The company’s target market is increased as a result of its widened emphasis and the intellectual property Intercede acquires, which also strengthens its capacity to comply with new regulatory requirements.
Key Questions Answered in Access Control And Authentication Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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