Access Control Reader Market Size, Share, and Industry Analysis and Market Forecast to 2024 | MarketsandMarkets

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MarketsandMarkets Presents
Access Control Reader Market worth 5.4 billion
by 2024
Access Control Reader Market by Reader Type
(Card-based Readers, Biometric Readers, and
Multi-technology Readers), Smart Card Technology
Type (iCLASS, MIFARE, DESFire, Advant), Vertical,
and Geography - Global Forecast to 2024
https//www.marketsandmarkets.com/Market-Reports/a
ccess-control-reader-market-49088328.html
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According to the new research report, "Access
Control Reader Market by Reader Type (Card-based
Readers, Biometric Readers, and Multi-technology
Readers), Smart Card Technology Type (iCLASS,
MIFARE, DESFire, Advant), Vertical, and Geography
- Global Forecast to 2024" is expected to grow
from USD 3.0 billion in 2019 to USD 5.4 billion
by 2024, at a CAGR of 12.5. The growth of this
market is mainly propeled by the high demand for
enhanced security contactless interfaces to
boost adoption of smart cards and increased
convenience, enhanced security identity
management, and improved human resource
management. Rapid urbanization in emerging
economies is likely to provide growth
opportunities for the access control reader
market. Browse 69 market data Tables and 41
Figures spread through 170 Pages and in-depth TOC
on "Access Control Reader Market - Global
Forecast to 2024"Early buyers will receive 10
customization on this report.
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Card-based readers to witness highest CAGR
during 20192024 Card-based readers are expected
to exhibit the highest CAGR in the access control
reader market from 2019 to 2024. The market for
card-based readers has been further categorized
into magnetic stripe, proximity, and smart card
readers.  Rising adoption of card-based reader
technology-equipped time and attendance as well
as access control solutions in various
organizations across the world is one of the
factors surging the demand for card-based
readers. PDF Brochure_at_ https//www.marketsandmark
ets.com/pdfdownloadNew.asp?id49088328
Residential vertical expected to exhibit
highest CAGR from 2019 to 2024 The access control
reader market for the residential vertical is
expected to grow at the highest CAGR from 2019 to
2024. In smart homes, access control readers are
used to enhance security. Key factors
contributing to the growth of this market include
the rise in crime rates, ongoing technological
advancements, high need for detecting hazards,
such as fire and gas leaks, and ensuring the
safety of children at home. The growing trend of
smart homes is likely to increase the demand for
access control readers in the residential
sector.
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Growing security concerns will boost demand for
access control readers in APAC during forecast
period The access control market in APAC is
expected to grow at the highest CAGR during the
forecast period. Factors driving the growth of
the market in this region include large
population, heavy investments in digitalization,
rapid industrialization, and high demand for
security systems. Furthermore, emerging economies
are working toward improving their
infrastructure, which is expected to impel the
growth of the access control reader market. The
rising adoption of access control readers in
small- and medium-sized enterprises, hospitality
businesses, airports, ATMs, banks, residential
buildings, and religious places is expected to
drive the access control reader market in
APAC. Request for Sample Report _at_
https//www.marketsandmarkets.com/requestsampleNew
.asp?id49088328 Key players in the market
include ASSA ABLOY AB (Sweden), dormakaba Holding
AG (Switzerland), Allegion plc (Ireland),
Identiv, Inc. (US), IDEMIA Group (France), Nedap
N.V. (Netherlands), Suprema HQ Inc. (South
Korea), Gemalto N.V. (Netherlands), NAPCO
Security Technologies, Inc. (US), and Avigilon
Corporation (Canada). These players are
increasingly adopting growth strategies such as
product launches and developments, mergers and
acquisitions, contracts, partnerships, and
agreements to develop and introduce new
technologies and products in the market.

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