Researchers at Memoori are predicting that by 2025 access control products will be worth $10.2 billion in the world market. “Demands for these products have expanded by about 8.2%” states Memoori. Unfortunately the scalability and size of the access ID market in 2020 was hard to analyse due to the lack of control of the Covid-19 pandemic. Entering 2021, however, we can safely say that this has drastically changed.
In fact, Covid-19 has now created an increase in demand for access control products due to providing safety and protection with contactless verification when entering buildings and offices in the workplace. Social distancing has improved due to these products and will continue to do so. Even more so, vendors are now looking to go further by assisting with contact tracing and wellness verification.
One thing that Memoori has clearly identified is the generation of growth in established businesses due to integration with other physical security systems and IP networking products. Although access control is small when compared to the video surveillance market, it has rapidly inclined more recently with much more competition in the market to produce higher quality products from many different and diverse companies. Based on recent research, studies have shown that most access control suppliers within the last two years have taken a more open approach to software and hardware development.
The analysts at Memoori themselves most notably have emphasised that IP networking has majorly strengthened its relationship with bio metrics and identity management.
Although trying to grow products in a recession is most definitely daunting, access control vendors will focus on directly contributing to improving the performance of their clients’ businesses and in turn create success for all parties involved.
We would love to hear from you!
Did this help you? Would you like to know more about security systems and the growing security industry? We love to hear feedback from our readers. Make sure to contact us through the link down below: