Market Trends of Latin America Pin-based Access Control Industry
Large Enterprises Segment to Hold Significant Market Share
- Organizations are ensuring the necessary safety controlling processes. The well-organized and controlled access to company sites, offices, and facilities provides security and enhances trust in staff, customers, and suppliers. The market for pin-based access control systems is expected to grow due to increasing safety consciousness, the growing demand for high-level access control systems, and the adoption of access control devices in commercial organizations.
- As commercial door lock systems with keypads provide enhanced security, eliminating the need for physical access keys, several property owners and senior management professionals alternate the PIN code from time to time to ensure that only authorized personnel can access the space.
- The increasing number of smartphone sales in the region is expected to increase the demand for pin-based access control with the integration of mobile applications. The sales of smartphones were 28 million units in Q1 2023. Such systems provide building and office managers with a cost-effective solution for managing identification credentials.
- Access control systems have become the preferred way to manage access to large enterprises, offices, and businesses due to the increasing number of robbery or burglary incidents in Brazil, Argentina, and Mexico. The market for access control systems is expected to grow due to increasing safety consciousness, the growing demand for high-level access control systems, and the adoption of access control devices in commercial organizations.
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Brazils Hold Significant Market Share
- Urbanization in the country is driving the need for access controls in residential and commercial areas owing to security concerns. Technological advancements and digitalization drive the demand for solutions across organizations. Furthermore, the cumulative adoption of smartphones and mobile computing devices will drive the adoption of the pin-based access control market across the country.
- As the popularity of physical and cyber security systems continues to increase, several industries are implementing multi-factor authentication policies to reduce severe security breaches. According to Avilgilon's research, multi-factor authentication can prevent up to 90% of attacks that compromise property access passwords.
- Brazil has the largest number of banks in Latin America; financial institutions are using sophisticated technology and monitoring techniques to ensure user safety while offering the convenience of online banking. With increasing thefts, banks have integrated multi-factor authentication, such as PINs or passwords, and biometric authentication. The country's substantial increase in data breaches is increasing, and pin-based access provides users with another layer of security to secure themselves.
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