Published Date : Jul 30, 2018
ALBANY, New York, July 30, 2018 –MarketResearchReports.biz has announced the addition of a report titled “Wireless Access Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025”. The in-depth study on the global wireless access control market offers a granular assessment of the current outlook, prospects of key applications, emerging trends, lucrative avenues, major technological advances, and the overall competitive landscape.
The global wireless access control market is anticipated to rise at a promising, single-digit CAGR during the forecast period from 2017 to 2025. The expansion is underpinned by widespread uptake of wireless platforms and technologies across diverse end-use industries all over the world. The need for integrable, robust, and cost-effective access control technology in locks and other door access control applications is a crucial factor driving the demand for wireless access control.
Benefits over wired control system abound, such as them less energy intensive, ability to be integrated into the current wired security systems, reduction of human error, and the capability to support multiple credentials. In addition, the cost-effectiveness of wireless access control systems over wired magnetic locks reinforces its demand among end users. The rising popularity of Wi-Fi locks for business and rentals to ensure smart locking is a key factor accentuating the wireless access control market.
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The proliferating usage of smartphones for operating wireless control system is also boosting the market. Wireless access control systems are gaining traction among residential users world over. The uptake is accentuated by the rising demand for wireless security technologies to ensure a hassle-free operation by users.
The market will also witness lucrative gains from the rising trend of people in developing economies to adopt savvy products for their modern accommodation facilities. The demand for wireless access control system is gaining higher pace than electronic counterparts as the former is in many ways considered to be more eco-friendly, especially by commercial users. This may be attributed to its lack on dependence on electricity for its operations, thereby contributing less carbon footprint.
The high cost of adopting wireless access control system is a crucial setback to the market. Furthermore, skepticism about the reliability of the battery powering these systems and several misconceptions about their operation prevailing in developing economies are factors hindering the demand to an extent. Nevertheless, constant technological advances and product innovations will help allay these concerns in the coming years.
The competitive landscape of the global wireless access control market is increasingly fragmented. Several players are focusing on developing markets to tap into emerging lucrative avenues. Top players operating in the market include Dormakaba Holding AG, Salto Systems K.S, ASSA ABLOY Group, Johnson Controls Plc, and Bosch Security System. Many prominent players are making sizeable investments focused on research and development activities, in a move to garner a higher share in the global market.
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