• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

Biometrics to Lead Growth in Access Control Market: Report

June 14, 2022

MarketsandMarkets is anticipating moderate growth in the access control market. The firm specifically predicts that the market will climb from $8.6 billion in 2021 to $13.1 billion in 2026, which corresponds to a CAGR of 8.7 percent.

Biometrics to Lead Growth in Access Control Market: Report

Those figures are consistent with the firm’s previous report on the access control market, which indicated that a CAGR of 8.2 percent would push the market to $12.8 billion in 2025. In the newer report, MarketsandMarkets attributes the expected growth to the development of new security technologies, including cloud, IoT, and wireless access control solutions. Organizations are using such technologies to combat rising rates of digital and physical crime.

MarketsandMarkets believes that demand will be especially high in emerging markets that do not yet have a robust security infrastructure. Clients in those markets are implementing mobile access control solutions and Access Control-as-a-Service products to safeguard their assets.

Many of the new access control solutions that do get deployed will feature biometric readers. The biometric segment is expected to display the highest growth rate in the next few years, with MarketsandMarkets crediting the rise of voice recognition in the financial sector as a major factor in that regard. However, access control cuts across different industries, and demand will be high throughout the commercial sector. Retail and commercial facilities will offer significant growth opportunities, and more businesses will deploy biometric and RFID readers to protect the digital assets stored in their data centers.

North America will represent the largest market for access control tech. MarketsandMarkets listed ASSA ABLOY, Suprema, Thales, NEC, and IDEMIA as some of the biggest players in the space.

Fact.MR believes that the physical access control market will exhibit a CAGR of nine percent for the next ten years. MarketsandMarkets has suggested that the voice biometrics market will hit $3.9 billion, while the broader identity verification market will reach $18.6 billion.

–

June 14, 2022 – by Eric Weiss

Related News

  • Electronic Access Control Market to See Solid Growth Over Next Decade: ReportElectronic Access Control Market to See Solid Growth Over Next Decade: Report
  • Demand for Authentication Services Expected to Drive $3.9B Voice Biometrics MarketDemand for Authentication Services Expected to Drive $3.9B Voice Biometrics Market
  • Insight Partners Forecasts $4.82 Billion Voice Biometrics MarketInsight Partners Forecasts $4.82 Billion Voice Biometrics Market
  • Fact.MR: Biometrics to Fuel Steady Growth in Physical Access Control MarketFact.MR: Biometrics to Fuel Steady Growth in Physical Access Control Market
  • Emotion Recognition Market to Double in Next Four Years: ReportEmotion Recognition Market to Double in Next Four Years: Report
  • Petvation Brings Biometric Access Control to the Doggy DoorPetvation Brings Biometric Access Control to the Doggy Door

Filed Under: News Tagged With: Access Control, Biometric, biometric access control, biometrics, industry reports, industry trends, MarketsandMarkets, physical access control, voice biometrics, voice recognition

Primary Sidebar

EXCLUSIVE MEMBERS ONLY CONTENT:

Become a FindBiometrics Member and gain easy access to specialty content, including the ID Tech column, replays of virtual events, and Identity School educational checklists:

ID TECH: What Role Will Biometrics Play in the Cyber Cold War? We’re About to Find Out [NEW]

Identity School: Facial Recognition Cheat Sheet

REPLAY: Travel & Hospitality Virtual Identity Summit

Sponsored Links

TECH5 showcase logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Onfido logo

Onfido is building the new identity standard for the internet.Our AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That’s how we give companies like Revolut, Zipcar and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access.. For more information, please visit www.onfido.com

ThreatMark brings trust to the digital world by providing cutting-edge fraud prevention solutions. Major banks use ThreatMark’s AI-powered technology and behavioral biometrics to build secured banking experience to precisely verify their legitimate users, seamlessly across all digital channels. All while securing the users’ most precious assets and keeping the fraudsters away. Learn more: www.threatmark.com/

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Web3 Gets Its First Smartphone, Featuring Biometric Authentication
  • Vivo X80 Pro Stands Out With Extra-large In-display Sensor
  • Apple Seeks to Kill Both the Password and the CAPTCHA With New Authentication Solutions
  • American Airlines Looks to Selfie Biometrics for Passenger Processing
  • VAIO Installs Fingerprint Sensors in New FE Laptops

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 FindBiometrics