Europe Pin-based Access Control Market Size (2024 - 2029)

Europe Pin-based Access Control Market Analysis

The Europe Pin-based Access Control Market size is estimated at USD 551.5 million in 2024, and is expected to reach USD 707.20 million by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).

• Consumer demands have surged, emphasizing the need for seamless payment solutions, both in-person and online. Merchants are under pressure to enhance the checkout experience and boost revenues. Pin-based access control systems are gaining traction across residential and commercial buildings owing to the growing number of robberies and thefts. In England and Wales, the number of recorded burglaries between January 2023 and December 2023 was 2,71,449. Such factors increase demand for pin-based smart door locks and access control solutions.
• Furthermore, pin-based access controls are easily scalable, making them suitable for SMEs who want to secure their data without spending extra money. Several pin-based access control systems can track who accessed a particular area along with time. These systems are often compatible with the existing infrastructure, making them a convenient choice to integrate into older security systems.
• Pin-based access control systems have become crucial to managing access to commercial offices, businesses, and residential buildings. These systems offer enhanced property security for tenants and staff, who can quickly enter with credentials while denying access to unauthorized individuals. The increasing privacy and security concerns and the increasing theft of crucial data and information contribute to the market's growth.
• The necessity for strict identity verification due to the accelerating adoption of transactional technologies is increasing the demand for biometrics access controls, which consumers prefer over traditional pin-based access control, hindering the market's growth. Data security concerns further restrict the market's growth.
• Geopolitical conflicts across the world, such as the Russia-Ukraine war and the Israel-Hamas conflict, are hampering the global supply chain. Organizations had to adopt advanced multifactor access control systems to keep data and networks secure and safe. Further, increasing inflation rates and economic slowdowns reduce the purchasing power of SMEs, which negatively impacts the market's growth in Europe.

Europe Pin-based Access Control Industry Segmentation

PIN-based access control is a technology-driven security solution that employs a two-level authentication model. It is suggested to use access control PINs, typically consisting of four to six digits, although longer PINs are advisable. The study tracks the revenue accrued through the sale of pin-based access control by various players in Europe. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates during the forecast period. The study further analyses the overall impact of the aftereffects of the COVID-19 pandemic and other macroeconomic factors on the market. The report’s scope encompasses market sizing and forecasts for the various market segments.

The European pin-based access control market is segmented by component (hardware and software), organization size (SMEs and large enterprises), end-user industry (banking and financial services, government services, retail, IT and telecommunications, healthcare, power and utilities, residential, and other end-user industries), and country (United Kingdom, Germany, and France). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.