The worldwide demand for enhanced security, identity management and improved human resources management represent the main growth factors for the access control readers’ market, which is set to reach USD 5.4 billion by 2024, according to a recent market research report.
The “Access Control Reader Market by Reader Type (Card-based Readers, Biometric Readers, and Multi-technology Readers), Smart Card Technology Type (iCLASS, MIFARE, DESFire, Advant), Vertical, and Geography – Global Forecast to 2024” report from ResearchAndMarkets forecasts that this market sector is expected to grow from USD 3 billion in 2019 to USD 5.4 billion by 2024, at a CAGR of 12.5%.
The rapid urbanization in emerging economies will provide a major opportunity for the growth of the access control reader market. However, limited awareness about advanced security solutions among users restrains the market’s growth.
The access control reader market for the residential vertical is expected to grow at the highest CAGR from 2019 to 2024. In smart homes, access control readers are used to enhance security. Major factors contributing to the growth of this market include growing crime rates, ongoing technological advancements, increasing need for hazards detection, such as fire and gas leaks, to ensure the safety of children at home. The growing trend of smart homes will increase the demand for access control readers in the residential sector.
The APAC region is expected to hold the largest share of the access control reader market during the forecast period. Emerging economies are working toward improving their infrastructure, which is expected to impel the growth of the access control reader market. The rising adoption of access control readers in small- and medium-sized enterprises, hospitality businesses, airports, ATMs, banks, residential buildings, and religious places is expected to accelerate the access control reader market growth in the region.
TENSOR ACCESS CONTROL SYSTEMS PROVIDE IMPROVED SECURITY AND RELIABILITY VIA MULTI-FACTOR AUTHENTICATION
Tensor plc is the No.1 British designer and manufacturer of smart card – based access control and time and attendance terminals. We supply top-quality, reliable and secure Access Control Systems that adhere to the latest industry standards and have numerous partners and distributors across the world.
You can control most standard types of internal/external electronic door releases and physical security devices such as barriers and turnstiles making full use of location points, whether in full view or hidden out of sight using multi-factor authentication solutions.
Operated by contactless smart cards, key fobs or biometrics, Tensor Access Control Systems give you full control over who is allowed access through any controlled point at any time of any day, placing it at the forefront of security solutions.
Tensor Access Control is modular in design, and has the advanced capability of being able to be adapted and extended to integrate with a time and attendance system seamlessly and without complication.
If you would like to find out more about the extensive range of access control solutions supplied by Tensor, just contact us or Book a Demo, we would be more than happy to answer all of your questions and queries.