Vehicle Access Control Market to Reach $25B by 2033
The worldwide vehicle access control market is currently valued $10 billion, and is projected to collect revenues as much as $25 billion by 2033, says the Fact.MR research.
Vehicle access control is a combination of software and hardware solution automating vehicles’ entry and exit processes and allow for efficient management of guests, employees, and supplier on the premises via gates, doors, shutters, and barriers.
Projected global market growth rate (2023-2033) will rise for 9.6%, and leading system segment remains biometrics and key implementing companies are Denso Corporation, dormakaba International Holding AG, Continental AG, Axis Communication AB, ClAmp Corporation, Alps Alpine Co., Ltd and Automatic Systems S.A.
Demand for sophisticated safety systems of the vehicle access control is increasing just as some security requirements at the residential and commercial facility entrances growing more rigorous.
The system is required at power plants, R&D facilities, and nuclear power centers considered critical to a country’s economy.
Despite technological advancements in car security systems and the increasing sophistication of theft-deterrent measures, the global market is expanding due to rising vehicle thefts which makes these solutions rapidly gaining popularity.
