Report : EMEA Access Control Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component (Hardware, Software, and Services) and Application (Commercial, Military and Defense, Government, Residential, Healthcare, Education, Manufacturing and Industrial, and Transportation)
According to our latest market study on “EMEA Access Control Market Forecast to 2027 – COVID-19 Impact and Analysis – by Component (Hardware, Software, and Services) and Application (Commercial, Military and Defense, Government, Residential, Healthcare, Education, Manufacturing and Industrial, and Transportation),” the market was valued at US$ 2,849.4 million in 2019 and is projected to reach US$ 8,327.5 million by 2027; it is expected to grow at a CAGR of 14.0% from 2020 to 2027.
Many players are investing into innovation, research and development activities. Recently, a Dormakaba’s company introduced new Keyscan Aurora 1.0.21 access-control management software to manage the flow and security efficiently through the building. Further, the growth in number of SMEs adopting security systems has created growth avenues especially in the developing economies of the world. Also, growing demand for the cloud technology in businesses owing remote working and enormous data management is augmenting the market growth. For instance, Atos company introduced new Evidian cloud-based Identity-as-a-Service for the enterprises to securely govern digital identities with subscription-based pricing model. Credential management and cloud authentication capabilities are expected to further support the integration of mobile devices, cards, tokens, and machine-to-machine endpoints. Many of the access control system manufacturers have addressed the network security concerns by adhering with the standardized measures of security that are recognized by the information technology community.
Technological development in the access control system is offering innovative products for the market as per the new demands. Increased concern for the contactless access control owing to the new physical distancing measure emerged due to COVID 19 are creating huge opportunity for the market. In August, 2020, ZKTeco EU company introduced new development in access control solution offering by including body temperature measurement and mask detection features. Identifying person with mask and measuring the body temperature amid coronavirus detection are new needs from the customers.
The importance of biometric technology is getting increased in EMEA market as government is also promoting the systems or better analysis and operations. Panacea, European Union-funded innovation project is promoting the biometric access control software tools for the healthcare industry. The machine-to-machine and human-to-machine interfaces is offered by the software for secure information sharing, security, and dynamic risk assessment and compliance management. Such rising importance of the biometric and growing awareness in the EMEA market is creating lucrative opportunity for the market player to develop more advanced solution fulfilling the emerging needs of the market.
Impact of COVID-19 on EMEA Access Control Market
The overall access control market in Europe, Middle East and Africa took a moderate hit due to Pandemic situation as sever impact on sale of solutions. The infrastructure industry witnessed sever impact which ultimately had impact of the market as product demand was stopped. As a result, the overall demand for access control products plummeted notably from the residential customer base and subsequently attributed significantly in the market’s slower growth rate during the initial months for the current year. Furthermore, the swift rise in number of positive COVID cases across countries such as Italy, Spain, France and other European countries also registered a moderate to heavy impact on the negative growth of the market. Whereas, other countries such as Germany, UK, Russia, UAE and selected other countries registered a moderate to low impact on their demand for access control and other building construction products
The report segments the EMEA Access Control Market as follows:
EMEA Access Control Market– by Component
- Military and Defense
- Manufacturing and Industrial
EMEA Access Control Market– by Countries
- Saudi Arabia
- South Africa
- Rest of MEA
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