Physical Access Control System (PACS) Market will Surpass US$ 19.6 Bn by 2031; Sales of Biometric PACS to Grow by 9% CAGR

Physical Access Control System (PACS) Market will Surpass US$ 19.6 Bn by 2031; Sales of Biometric PACS to Grow by 9% CAGR

PR Newswire

NEW YORK, Nov. 17, 2021

- 3 Out of 5 Physical Access Control Systems Sold to be Keypad & Card – Based PACS

- The physical access control system (PACS) market survey offers compelling insights into key factors impacting growth across various segments in terms of solution, technology, sector, and region. The report also includes information on various strategies adopted by top players operating in the global market.

NEW YORK, Nov. 17, 2021 /PRNewswire/ -- The global physical access control system (PACS) market is expected to register 10% year-on-year growth, to total 2.2. Mn units in 2021. As per Fact.MR, the demand for biometric PACS is expected to grow by 9%, reaching 850,000 units in 2021.

FactMR

The physical access control system market will occupy 45% of global access control system (ACS), with sales of ACS reaching US$ 15.3 Bn in 2021. As per the study, nearly 45% of employees across offices have determined access control systems to be pivotal for smart lock and digital security.

The study also states that more than half of organizations have shifted their preference to physical access control systems in 2019. These businesses are likely to upgrade to mobile access control systems over the next three years, steered by ongoing technological advancements.

Due to the increasing need for perimeter security among government and national security bodies, the demand for physical access control through facial recognition is expected to surge. For instance, The Department of Homeland Security's Customs and Border Protection of the U.S. claimed that around 40 million candidates have been screened at cruise ships, border crossings, and other places in the last year.

Access control systems also have helped in restricting around 250 people from using fake passports for border crossing. Rising focus on homeland security, besides unlimited benefits of physical access control systems, which include keeping track of entry and exit of members of any organization, will enable exponential growth of the market in the coming years.

On account of this, the global physical access control system is expected to reach a valuation of US$ 12.7 Bn, expanding at 10% CAGR during the forecast period of 2021 to 2031.

"As the global physical access control system (PACS) market is highly dependent on technological advancements, players are integrating cutting-edge technologies such as robotics and automations to keep up with evolving needs of various industries. Hence, key players are investing heavily in research activities to develop advanced security systems. This will allow the market to register growth at high rate in the coming years," says the Fact.MR analyst.

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Key Takeaways

Growth Drivers

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Competitive Landscape

Players operating in the global physical access control system (PACS) market are offering tailored solutions as per specific needs of end users. Manufacturers are therefore increasingly investing in research and development (R&D) activities to develop advanced access control systems in-built with advanced technologies. Besides this, some are aiming at strategic partnerships to gain competitive edge in the market.

For instance,

Some of the key players operating in the global physical access control system (PACS) market profiled by Fact.MR are:

More Insights on the Physical Access Control System (PACS) Market

Fact.MR provides an unbiased analysis of the physical access control system (PACS) market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021 to 2031. The report provides in-depth analysis of the mentioned segments:

Solution

Technology

Sector

Region

Key questions Covered in the Physical Access Control System (PACS) Market Report

Explore Fact.MR's Coverage on the Technology Domain

Electronic Access Control System Market Report - As crime rates rise, so does demand for electronic access control security systems in both the residential and commercial sectors. People's awareness of the importance of security has increased the demand for electronic access control systems. Rapid product development in the country, combined with a number of government policies, is expected to drive demand for electronic access control systems at a CAGR of 6% over the long-term forecast period.

Vein Recognition Biometrics Market Survey - Growing data breach and theft incidents are raising concerns about security measures, particularly in the finance industry. As a result, vein recognition biometrics are a suitable and dependable solution, as they are used in the BFSI sector for security purposes to protect customers from data theft and identity theft. During the forecast period, East Asia is expected to account for the majority of the global vein recognition biometrics market share.

IRIS Biometrics Market Insights - With an increased emphasis on secure authentication methods for user access, e-commerce, and other safety applications, demand for IRIS biometrics is rapidly increasing. The growing reliance on digital technologies and automation is expected to fuel growth in the IRIS biometrics market. Furthermore, the ongoing demand for improved security and identification systems has resulted in an increase in the adoption of IRIS biometrics.

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