Global Physical Access Control System (PACS) Market Reaching US$ 24.9 Billion by 2034

Asia Pacific and Latin America projected generate lucrative opportunities for key players in the physical access control system market, says Fact.MR.

ROCKVILLE, MD, UNITED STATES, May 9, 2024 /EINPresswire.com/ -- Recently updated report by Fact.MR, a market research and competitive intelligence provider, says that rising need for robust security and safety measures across industry verticals is set to push the size of the global physical access control system (PACS) market from US$ 9.8 billion in 2024 to US$ 24.9 billion by the end of 2034.

PACS is made to control physical access to a specific space or structure. A physical access control system, as opposed to more conventional obstacles like fences and well-planned landscaping, prevents someone from entering a restricted area without the necessary authorization.

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Physical access control system consists of biometrics, a card, keypad, alarm panel, and a reader controller. Touchless access control systems are also gaining traction, further driving demand for biometric, voice, and facial recognition solutions. RFID and smart and infrared sensors are aiding the capabilities of PACS.

IoT integration is providing a highly intelligent system with ease of mobility, and capability to configure. The rising security concerns are further driving demand for cloud-based solutions. Cloud-based access control solutions are aiding in transferring and downloading data with high security protection.

North America and Europe are major market for PACS service providers. The regions being forefront at adopting advanced technologies are benefiting the overall PACS market growth. Asia Pacific is an emerging marketplace for industry pleaders due to rapid integration of digital technologies and growing industrial activities. The rising security concern is set to fuel the demand for PACS in various sectors of Asia Pacific.

Key Takeaways from Market Study

The global market for physical access control systems is poised for substantial growth, with demand forecasted to surge at a compound annual growth rate (CAGR) of 9.8% between 2024 and 2034. This upward trajectory is indicative of an increasing recognition of the importance of security measures worldwide. In particular, the United States is anticipated to witness robust sales, with projections indicating a market value of US$ 2.8 billion by 2034, reflecting a significant investment in enhancing access control infrastructure to ensure safety and security.

Moreover, regional dynamics also play a crucial role, with Japan expected to maintain a formidable position in the East Asia market, holding an estimated 28.9% share in 2024. This underscores the strategic importance of advanced access control solutions in the region. Additionally, the rising popularity of card-based access control systems is set to contribute significantly to market growth, with sales projected to soar to US$ 14.9 billion by 2034, signaling a shift towards more sophisticated and comprehensive security solutions globally.

“Integration of Internet of Things and cloud computing platforms set to boost global revenue from the sales of physical access control systems,” says a Fact.MR analyst.

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Competitive Landscape

Some of the leading companies in the physical access control system market include Johnson Controls International Plc., United Technologies Corporation (Raytheon Technologies), Paxton Access, Secugen Corporation, Zvetco Biometrics LLC., Honeywell Security, and Allegion.

Leading companies are adopting strategies such as mergers, collaborations, partnerships, and global expansion to boost their market position. They are also focusing on continuous innovations to introduce advanced physical access control systems.

Country-wise Insights

North America and Europe stand out as key markets for manufacturers of physical access control systems (PACS), driven by a robust presence of target audiences and a burgeoning landscape of start-up ventures. Particularly, the commercial and retail sectors in the United States are witnessing accelerated growth in PACS adoption, propelled by increasing government investments in advancing technologies like 5G networks. This digital transformation is amplifying opportunities for contactless technology providers in the Asia Pacific region, reflecting a global trend towards more sophisticated security solutions.

In Western Europe, particularly in the United Kingdom, the technology industry thrives with a vast ecosystem comprising numerous tech start-ups and substantial venture capital investment, ranking third globally. This dynamic environment is poised to fuel the sales of access control systems, reflecting the region's enduring significance in shaping the global technological landscape. As personal and professional spheres become increasingly digitized and automated, the adoption of PACS is anticipated to rise, reflecting the evolving security needs of modern societies.

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