New research from MarketsandMarkets that breaks down the access control market by type of offering is forecasting notable growth for biometric readers.
The report – descriptively titled “Access Control Market with COVID-19 Impact by Offering (Card-based Readers, Biometric Readers, Electronic Locks, Controllers, Software, Services), ACaaS (Hosted, Managed, Hybrid), Vertical, and Region – Global Forecast to 2025″ – shows the overall access control market growing at a CAGR of 8.2 percent for the next five years, from $8.6 billion to $12.8 billion in 2025. According to MarketsandMarkets, biometric readers will see the highest growth rate.
The firm accounts for all major physical access control modalities in its assessment, and particularly cites government, manufacturing, energy, defense, and enterprise sectors as notable adopters. The overall access control market, however, will be seeing the highest amount of uptake in the commercial vertical, including enterprises, data centers, and retail, particularly in North America where the glut of hack attacks and data breaches is compelling organizations and agencies to upgrade their security.
Biometrics are a sure fit to address such a conundrum, particularly in the complex, high-risk security scenarios posed by the ongoing COVID-19 pandemic. With biometric technology, users can have a fully automated security experience, maintain social distancing, and – in the case of face, iris, and other forms of contactless recognition – avoid touching shared surfaces. New biometric access solutions, like the StoneLock GO, even boast a contactless enrollment process to ensure hygiene throughout the entire user experience.
As the access control market continues to grow, pivoting and adapting in response to the increased pressures of fraud threats, privacy concerns, and the ongoing pandemic, the biometric promise of convenience and security clearly still holds sway.
August 24, 2020 – by Peter B.Counter