According to Future Market Insights, the global Pedestrian Access Control System market will be valued at US$ 2,693.0 Mn in 2022 and will increase at a CAGR of 5.8% from 2022 to 2032. The top 3 countries are predicted to control around 26 to 28% of the market by the end of 2022, as sales of Pedestrian Access Control Systems are expected to grow.
| Attributes | Details |
|---|---|
| Market Size 2021A | US$ 2,547.8 Million |
| Market Size 2022E | US$ 2,693.0 Million |
| Market Size 2032F | US$ 4,732.5 Million |
| Value CAGR (2022 to 2032) | 5.8% |
Security concerns require an immediate response these days, whether in the residential, commercial, industrial, defence, or government sectors. Global risks from anti-social elements must be handled in a more intelligent and strong manner hence, it is considered to be the most practical solution. Pedestrian access control systems are designed to identify and grant quick access to people who have the proper credentials. These devices are primarily used to control the flow of people at popular tourist destinations.
Various organisations and companies have begun to use and install pedestrian access control systems to assure security (especially entrance gates, speed gates, full-height turnstiles, tripod turnstiles, and others). Thus, due to these benefits, the demand for pedestrian access control systems is increasing from several end users.
The market analysis for Pedestrian Access Control Systems from 2017 to 2021 exhibited a historical growth rate of 2.3% CAGR, with growing security concerns and ensuring public safety being the primary factors driving the market expansion from 2017 to 2021.
However, according to the most recent FMI analysis, the Pedestrian Access Control System is expected to grow at a rate of 5.8% between 2022 and 2032. Due to rising security concerns around the world, pedestrian access control systems have now become essential. Large organisations are increasingly interested in automatic pedestrian access control systems. With the increasing requirement to secure data and manage pedestrian traffic, these access control systems are expected to be a major target market in the near future.
Multi-factor authentication is a security system that needs more than one authentication step from a separate class of credentials to verify the identity of users before they can enter, access, or log into a pedestrian access control system. This new security trend involves two or more steps of authentication. These steps include scanning fingerprints, swiping cards, and finally answering security questions for access.
With the increasing frequency of security breaches in current single-factor authentication pedestrian access control systems, organisations have begun to focus on developing highly secure multi-factor authentication methods. To provide improved security, the new technology requires an individual to submit more than one password while logging in. The pedestrian access control systems market is expected to expand rapidly during the forecast period.
The switch from keys to keyless has reduced the stress associated with problems related to keys, such as their misplacement. It has also improved end users' experiences because pedestrian access control systems are faster in processing, more efficient, and provide more alternatives for unlocking doors and remote accessibility.
High implementation costs, a lack of a reliable communication and information processing system, and security-related disputes are major obstacles in the pedestrian access control system market.
In developing countries, due to the lack of technologies, there is a dearth of infrastructural developments, which leads to little penetration of numerous pedestrian access control systems, such as entrance gates, speed gates, full-height turnstiles, optical turnstiles, and tripod turnstiles. This acts as a key restraint for the pedestrian access control system market. Lack of awareness and knowledge related to technological innovation among customers can lead to complexity and also hinder the growth of the market.
In terms of revenue share, the North America region led the global market in 2022. Because of the existence of a high number of US-based users and prominent market competitors, North America is seeing greater adoption of pedestrian access control systems. Furthermore, the government in this region is substantially investing in the research and development of pedestrian entrance control systems, which is expected to drive market growth. In Europe, the government sector is witnessing the increasing adoption of pedestrian access control systems that provide seamless access to authorised persons, support border management, and help manage the workforce effectively.
South Asia and the Pacific are expected to be the fastest-expanding markets for pedestrian access control systems due to technological advancements, greater investment in the residential and commercial sectors, and general economic expansion. Additionally, Latin America and the Middle East and Africa region are expected to see favourable growth in the forecast period.
Key players operating in the Pedestrian Access Control System market include Magnetic Autocontrol Pvt. Ltd., Turnstar, Solus, Magnet Security & Automation System Solution, PERCo and FAAC Group.
Key players' strategies for increasing sales include regional development and agreements with other pedestrian entrance control system suppliers. The pedestrian entrance control systems market will gain momentum as a result of new product developments and key market players' strong financial positions.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, End Users, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ANEAN, Australia and New Zealand, GCC Countries, South Africa, Northern Africa, Turkey |
| Key Companies Profiled | Turnstar; Solus; PERCo; Magnetic Autocontrol Pvt. Ltd.; Magnet Security & Automation System Solution; FAAC Group; Nortek Control; KABA Group; Bosch Sicherheitssysteme GmbH |
In 2021, the value of the Pedestrian Access Control System market reached over US$ 2,547.8 Mn.
During the forecast period, the Pedestrian Access Control System market is estimated to expand at a CAGR of 5.8% during 2022-2032.
The Pedestrian Access Control System market is projected to reach US$ 4,732.5 Mn by the end of 2032.
U.S. is projected to lead the North America Pedestrian Access Control System market in the forecast period.
The key players operating in the Pedestrian Access Control System market are Magnetic Autocontrol Pvt. Ltd., Magnet Security & Automation System Solution, FAAC Group, Nortek Control, KABA Group and Bosch Sicherheitssysteme GmbH.
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Pedestrian Access Control System Market
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