Market Trends of Europe Access Control Hardware Industry
This section covers the major market trends shaping the Europe Access Control Hardware Market according to our research experts:
Biometric readers expected to have the highest growth rate in future
- One of the most quickly growing perimeter security options is Biometrics. Biometrics provides for the identification of a person's physical characteristics to provide controlled physical access to infrastructure. Government institutions, manufacturing enterprises, power plants, military establishments, and businesses rapidly use this technology. Furthermore, speech and facial recognition are biometrics technologies that are non-contact, non-intrusive, and simple. Individuals are spending more money on biometric readers because of the contactless method of identifying and authenticating.
- Furthermore, as online transactions become more prevalent, organizations must have an authentication system that allows for secure and efficient access to information. Furthermore, single-factor authentication systems require the user to confirm his identity by matching only one factor. By 2027, these factors will likely propel the biometric reader market forward.
- The increased integration of biometric systems with IoT devices, as well as the expanding use of smartphones around the world, are likely to boost the expansion of the biometrics reader market (Access Control Hardware Market).
- In February 2022 - Vsblty, a security and retail analytics company announced a new relationship with Farleigh Consultants, a UK-based Profile Security Group division, to sell security solutions in the UK and EU. Farleigh professes to be dedicated to public safety and the ethical collection, use, and storage of personal information. Vsblty's technology will be offered as a GDPR-compliant solution.
- In March 2021 - NEXT Biometrics struck a five-year cooperation agreement with a global biometric market leader. The agreement involves FAP20 sensors, a promising business sector for NEXT. The NEXT high-profile FAP20 sensor is the focus of the 5-year international agreement. Several market projects are already in the works as part of this collaboration. NEXT fingerprint sensors will be integrated into biometric fingerprint readers and other fingerprint-enabled devices, according to the partnership. NEXT's new customer is a global market leader in multiple markets. It is the ideal partner for establishing NEXT Active Thermal technology as the preferred choice in the big area sensor industry.
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Commercial Application to drive the Market
- Organizing the company means ensuring the necessary safety, controlling processes optimally, and offering the highest possible level of convenience. The well-organized and controlled access to company sites, offices, and facilities provides security and enhances trust in staff, customers, and suppliers.
- According to employee fraud stats, two-thirds of all US-based small businesses fall victim to employee theft (National Federation of Independent Business). According to employee fraud case stats, 59% of ex-employees admitted to stealing the company's sensitive information when leaving previous jobs (American Bar Association).
- Currently, numerous companies offer access control services in the security field, which different businesses can choose to install. Other access control systems come with various identification protocols, like smart card identification, biometric identification, mobile access identification, and proximity identification.
- While smart office technology is growing in popularity, access control systems can be a key piece of this technology, and security will likely prioritize making access control system decisions. Traditionally, access control has been a hardware sales-driven business model. However, updates need to be manually programmed, and IT staff is required for operation, resulting in adopting a subscription-based access control model for businesses.
- With the advancement in wireless technology, wireless hardware components are enhanced to cater to the growing demand for physical security, such as wireless locks and wireless controllers, across the access control systems, thereby minimizing the usage of physical cables and conduits. Also, the growing adoption of cloud technology services reduces the requirement for servers and software, further reducing the time and cost of installing physical devices in the long run and facilitating secure remote access.
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