Vehicle Access Control System Market: Provides Veritable Information on Size, Growth Trends and Competitive Outlook
Vehicle access control system is an electronic system designed to control the movement of vehicles through a facility or area. Rise in demand for strong security and safety measures has prompted companies all over the world to adopt advanced technology based security solutions. This is a key factor driving the vehicle access controls system market, globally. Vehicles have become a vital and vulnerable part of day to day activities of any business. Moreover, monitoring and recording movement of vehicles in and out of locations has become essential. Additionally, increasing crime rate is another factor boosting the vehicle access control system market, globally.
The global vehicle access control system market can be segmented based on component, application, technology, type, and region. Based on application, the vehicle access control system market can be classified into traffic management, sensitive sites/facilities/zones, toll ways, commercial buildings, residential buildings, and others. The residential segment is expected to expand at a notable CAGR during the forecast period. Rising crime rate and continuous technological advancements are major factors that drive the residential segment. The commercial vertical is estimated to hold a dominant share of the market by the end of 2018. It is expected to maintain its dominance during the forecast period. The commercial vertical includes traffic management, sensitive sites, toll ways, and commercial buildings. High demand for protection of people and assets from unauthorized access has propelled the demand for security solutions, which in turn boost the vehicle access control system market. Moreover, most companies are adopting advanced technology security systems in order to reduce expenses on security, which in turn is fuelling the market of vehicle access control system market in commercial vertical. Based on component, the market can be divided into hardware, software, and services. In terms of technology, the vehicle access control system market can be split into RFID technology, number plate recognition technology, card based reader technology, biometric reader technology, and others. Based on type, the market can be bifurcated into boom barriers, bollards, and sliding gates.
In terms of region, the market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to hold a dominant share of the global vehicle access control system market by the end of 2018. It is anticipated to maintain its dominant position during the forecast period. The U.S. and Canada are major countries that drive the market in the region. The trend of early adoption of technology witnessed in the region is a key factor attributed to the major share held by North America in the global market. Additionally, rising rate of crime in North America is also a key factor driving the market in the region. For instance: in 2014, the U.S. was ranked 30th, globally, in terms of rate of crime.
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Moreover, the market in Asia Pacific is projected to expand at a notable CAGR during the forecast period. China, India, and Japan are major contributors to the market in Asia Pacific. Rising industrialization, commercialization, and high demand for security systems are boosting the vehicle access control system market in the region. Additionally, rising terror threats, crime rates, and increasing government investments for security in countries across Asia Pacific are expected to fuel the demand for vehicle access control systems in the region.
Key players operating in the global vehicle access control system market includes Automatic Systems, T3 Security Integration Pte Ltd., Securax Tech Solutions Pvt. Ltd., Kambar Technologies, Nedap N.V., Avon Barrier Corporation Ltd, Guangzhou COMA Electronics Co., Ltd, Nasatka Security, and Vehicle Access Systems Ltd.