Access Control is a
security feature that regulates & controls communications between users and
systems. It restricts the entry of unauthorized individuals into restricted
areas to protect people and assets. The overall Access Control
Solutions market is expected to grow from USD 6.94 billion in 2017 to
USD 12.12 billion by 2024, at a CAGR of 8.24% during the forecast period. The
growth of the access control solutions market is driven by various factors,
such as increasing crime rates globally, technological advancements, the
deployment of wireless technology in security systems, and the adoption of
IoT-based security systems with cloud computing platforms. Best access
control systems provide secure access to physical resources by
validating user credentials.
In 2017, the access
control solutions market was dominated by Assa Abloy AB (Sweden), Johnson
Controls International Plc (Ireland), Dormakaba Holding AG (Switzerland), Allegion
Plc (Ireland), Honeywell
Security Group (US), Identiv
(US), Nedap NV (Netherlands), Suprema HQ Inc (South Korea), and Bosch
Security Systems (US).
Assa
Abloy (Sweden) is
a leading provider of digital and mobile security solutions. The company’s wide
product range of access
control systems provides it with a competitive advantage over other
players. In addition, it focuses on market presence, product leadership, and
cost efficiency to grow in the market. The company focuses on strengthening its
market presence by expanding into emerging markets; this has enabled its sales
to grow from 10% in 2006 to 28% in 2016. It strengthens its market presence by
acquiring companies. The group’s acquisitions are focused on increasing its
geographical presence, complementing its existing product range, and adding new
technologies in key areas. The company intends to grow organically through
product innovation and development and by broadening its product portfolio. The
company’s R&D investments in product development have increased by 90% over
the last five years.
Dormakaba
Holding AG (Switzerland) is
one of the leading companies in the global security and access solutions
market. It provides premise access products, solutions, and services. The
company has strong distribution channels and sales networks in all industries,
which will accelerate global expansion through a strengthened presence in
Europe, the Americas, and Asia Pacific. The company focuses on mergers
&acquisitions to expand its business and strengthen its product portfolio.
For instance, in 2016, two strategic acquisitions from Black & Decker, Inc.
(US) and Mesker Openings Group (US) took place, which enhanced the company’s
market foothold in North America and global standing within the security
&access control industry.
Johnson
Controls International Plc (Ireland) offers a wide range of fire & security products and
installation &maintenance services. The company generates the majority of its
revenue from installations &maintenance services and offers premium access
control, video, and location-based tracking to customers in more than 150
countries. Its commitment towards quality and consistent improvement in
products makes it one of the leading providers of security solutions. The
company focuses on maintaining a multi-segment business platform to enhance the
predictability and sustainability of its earnings and growth.
360Quadrants
Scoring Methodology
The top companies in the Access Control Solutionmarket will be rated using the following methodology:
1.
2.
a) Criteria under Product Maturity include breadth and depth of
product/service offering, product features and functionalities, product
differentiation, and their impact on customer value.
b) Criteria under Company Maturity include geographical
footprint, partner ecosystem, financial stability, and client coverage
or sector footprint.
3.
4.
a. Buyers
b. Industry Experts
c. 360Quadrants Analysts
d. Vendors (Competitors)
5.
6.
