NEWARK, Del, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The size of the worldwide Access Control and Authentication Market is anticipated to increase between 2023 and 2033 at a CAGR of 7.6%. It is expected that it will surpass US$ 28.1 billion in 2033 from the US$ 13.5 billion reported in 2023.
In the review period, the market is set to provide an absolute dollar potential of US$ 14.6 billion. By 2022, its valuation had reached about US$ 12.2 billion.
Ensuring Data Security in the Cloud: Addressing Security Concerns
Although cloud services have several advantages, security concerns can occasionally arise. By 2033, businesses will be moving more and more of their data and software to the cloud. Strong Access Control and Authentication solutions are likely to be in great demand as a result in order to ensure data security in these open environments.
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An important part of communication and interaction in cloud services is provided by application programming interfaces (APIs). These APIs could, however, be vulnerable to attacks if they are not appropriately protected. It is necessary to apply the right permission and verification procedures to prevent unauthorized access to and abuse of APIs.
Cybercriminals might target usernames and passwords used to log into cloud services. Phishing attempts, credential stuffing, or bad password management can all lead to unauthorized access to cloud storage accounts.
Mitigating Risks with Multi-Factor Authentication (MFA) and Strong Password Requirements
Multi-factor authentication (MFA) will be required by organizations to lessen this risk. In order to reduce these risks, they are also set to adopt strong password requirements and teach users security best practices.
Identity and access management, also known as IAM, is crucial to cloud security. Organizations must create solid IAM rules in order to manage user identities, positions, and rights in their cloud environments.
Applying the idea of limiting privilege might also be necessary. They might concentrate on creating tasks and privilege levels depending on work responsibilities at the same time. In order to stop cyberattacks, access privileges will be constantly evaluated and upgraded.
Key Takeaways from Access Control and Authentication Market Study:
- China Access Control and Authentication industry is likely to witness a CAGR of 8.5% in the assessment period.
- The United States Access Control and Authentication industry is expected to create an incremental opportunity of US$ 4.0 billion in the review period.
- In terms of technology, the biometrics segment is projected to witness a CAGR of 7.5% from 2023 to 2033.
- Based on application, the residential & commercial segment is estimated to register a CAGR of 7.4% in the forecast period.
- Japan and South Korea Access Control and Authentication industry is anticipated to witness CAGRs of 7.0% and 8.0%, respectively from 2023 to 2033.
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Competitive Landscape and Top Companies Market Share:
Leading suppliers of Access Control and Authentication solutions would provide cloud-based options to give their clients scalable and adaptable services. Cloud computing solutions would make access simple and universal. They can also decrease the requirement for infrastructure on-premises and offer real-time upgrades & monitoring.
Solution providers are further putting more emphasis on providing smooth connectivity with a variety of systems, platforms, and applications. They would be able to accommodate several client needs and improve the user experience if they were compatible with diverse devices & protocols.
In order to make their solutions simpler to use and maintain, a few other businesses place a strong emphasis on intuitive and user-friendly interfaces. User satisfaction could be increased through self-service alternatives for end users and simplified administrative dashboards.
Access management and authentication systems are further expected to be used in blockchain technology. Offering decentralized and tamper-proof authentication techniques might be beneficial for leading players.
For instance,
- It was revealed that Anviz would introduce its latest OSDP-powered access control systems in July 2023. New items include the C2KA-OSDP RFID keypad reader and the SAC921 single-door access controller. Both systems strive to give clients peace of mind and assurance while delivering a complete security solution for the modern world.
- Stytch's platform, which now provides B2C authentication, unveiled B2B authentication in May 2023. Thanks to this innovative solution, companies can now add verification to their B2B products and platforms without having to design it themselves.
Top Companies in Access Control and Authentication Market:
- Bosch Security and Safety Systems
- Panasonic Corporation
- Thales
- Honeywell Commercial Security
- Axis Communications AB
- Genetec Inc.
- Identiv, Inc.
- Suprema, Inc.
- NEC Corporation
- ASSA ABLOY
- AMAG Technology, Inc.
- Johnson Controls International Plc
- Sensory, Inc.
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Find More Valuable Insights into Access Control and Authentication Market Report
The research report analyzes the global demand for Access Control and Authentication. The global neutron detectors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights (FMI), the market for Access Control and Authentication has been analyzed based on technology (biometrics, smart card, electronics locks & doors, magnetic stripe), component (hardware, software, services), application (residential & commercial, government & public sector, BFSI, IT & telecom, retail, healthcare, military & defense, manufacturing, hospitality, education), and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.
By Technology:
- Biometrics
- Fingerprint Recognition
- Face Recognition
- IRIS Recognition
- Voice Recognition
- Others
- Smart Card
- Contact Card
- Proximity Card
- Electronics Locks and Doors
- Magnetic Stripe
By Component:
- Hardware
- Readers
- Serial Access Controllers
- IP Access Controllers
- Integrated Solutions
- Software
- Services
- Support & Maintenance
- Installation & Integration
By Application:
- Residential & Commercial
- Government & Public Sector
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Military & Defense
- Manufacturing
- Hospitality
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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