Global Vehicle Access Control Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
Global Vehicle Access Control Market Overview
"The Vehicle Access Control Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
The vehicle access control system permits entry of vehicles on-premises, based on various entry requirements such as day, time, and purpose. Vehicle access control systems need no human intervention to check and enable automatic access to vehicles to pass gates of premises. The system provides controlled and authorized access through automated rollers, barriers, shutters, doors, and gates.
One of the major factors driving the growth of the global vehicle access control market is the increasing rate of crimes through unauthorized vehicle entries. In addition, technological innovations in developing advanced vehicle access control systems are likely to encourage consumers to choose the latest vehicle access control system. Furthermore, aggressive investments by automotive companies for reducing the deployment cost of vehicle access control systems are projected to increase penetration of access control systems, which is likely to significantly contribute to the market growth.
Security requirements at the entry gates of residential as well as commercial buildings have been increasing. Power plants, research and development plants, and nuclear power zones are important to maintain the economy of any nation. Confidential information in such establishments has to be protected from all unauthorized vehicular entry.
All these are factors expected to drive the growth of the global vehicle access control market over the forecast period. However, there are restraints hampering the adoption of these systems, which in turn negatively affects the market growth. End-users find it very difficult to get acquainted with the system is a major restraint.
Another restraint is the high maintenance cost. Continuous research and development to incorporate new technologies into these systems to overcome these restraints are expected to bring growth opportunities for the key players in the global market.
Global Vehicle Access Control Market Segment Analysis:
By Technology: Among the technology segments, the non-biometric segment continues to account for the highest revenue share compared to other technology segments. This growth of the segment can be attributed to different offers by non-biometric access control systems such as intrusion alarms, and keyless entry.
By Application: Among the application segments, the tollways segment is expected to continue to dominate the market in terms of revenue share over the forecast period, which is attributed to the extensive implementation of these systems in tollways. Increasing awareness and acceptance of these systems in tollways of highways to restrict entry to unauthorized vehicles is the key factor for this projected growth.
Global Vehicle Access Control Market Regional Analysis:
The market in North America is projected to maintain its dominance in terms of revenue share contribution to the global vehicle access control market. The number of implementations of these systems in tollways and residential and commercial buildings has been increasing in the region over the recent past due to the increasing number of criminal attacks.
Another key factor for the number of implementations increasing in the region is related to rapid technological advancements and the development of these systems used to prevent unauthorized entries. These advancements in technology make the system faultless, perfect, and easy to access. The fastest-growing regional market in the Asia Pacific market owing to the system becoming more affordable in the region.
Global Vehicle Access Control Market Segmentation:
- Commercial Buildings
- Residential Buildings
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Continental AG
- Robert Bosch GmbH
- Hella GmbH
- Nuance Communication
- Smartrac N.V.
- Lear Corporation
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